Posted by Michael Wonder on 01 Nov 2017
MTAA calls for National Audit Office to inspect private health insurance books
31 October 2017 - Today during a Senate Inquiry into value and affordability of private health insurance and out-of-pocket medical costs the Medical Technology of Australia called on the Australian National Audit Office to be given the power to audit the books of insurers to ensure medical device price savings are passed onto consumers.
The Private Health Insurance industry is the beneficiary of $6 billion dollars in taxpayer subsidies every year and this spending is the 17th largest Government spending program in the Federal budget.
This year, premiums increased by an average of 4.8% and with the recent cuts provided by our industry, Private Health Insurance industry estimates every $200m in cuts to medical devices should shave 1% off next year’s premium rises.
