Posted by Michael Wonder on 18 Feb 2020
Calls to change private health after funds lose 47,000 younger members
18 February 2020 - Health insurers and private hospitals are stepping up calls for government reform to help reverse a membership decline the regulator has warned is unsustainable, as tens of thousands of younger Australians drop their cover before the next premium rise.
Official data released by the Australian Prudential Regulation Authority on Tuesday showed that 46,969 fewer people aged between 20 and 34 had hospital cover in December, compared with a year earlier.
APRA said while releasing the data that the health insurance industry "continues to face risks associated with affordability and the associated value proposition of private health insurance products".
