13 October 2017 - Australia’s health insurers have backed the most comprehensive reforms to hit the industry in almost 20 years and promised to deliver lower premium increases after winning more than $1 billion in savings on the cost of medical devices.

Health Minister Greg Hunt will today announce a list of private health insurance reforms, including categorising policies as Gold, Silver, Bronze and Basic Bronze, a discount for young people and more power for the Private Health Insurance Ombudsman.

The key reform that will immediately translate to lower premiums next year is a measure to cut prices on the prostheses list, which sets the price insurers must pay for medical devices. The insurance industry has long argued they are overcharged, compared to Australia’s public system and comparable countries.

Read The Australian article