Posted by Michael Wonder on 11 Oct 2018
Health insurance reform to make 'winners and losers'
11 October 2018 - Health insurance premiums will be shaken up and down by reforms due to start in April 2019, with the costs of top coverage rising while lower levels get cheaper, confidential modelling by Deloitte for the Health Department shows.
The new tiered system will make various hospital treatments compulsory if they are to be included in one of four categories to be called - Gold, Silver, Bronze and Basic.
The Deloitte report found removing the currently allowed restrictions in some health insurance policies will increase costs to insurers by about 3.5% but "this is more than offset by the impact of the proposed categorisation design" that "leads to a net 5.3% reduction in costs to the industry".
