Posted by Michael Wonder on 18 Feb 2020
Private health cover numbers still dwindling, APRA reports
18 February 2020 - Almost 10,000 Australians dumped private health cover in the last three months of last year, leaving the share of members with hospital cover at its lowest level in 12.5 years and deepening the industry’s “death spiral” crisis.
The latest figures from the Australian Prudential Regulation Authority show that at the end of last year, 44% of Australians held some form of private hospital treatment insurance, after about 9,400 Australians junked their policies in the last three months of the year — mainly younger members aged between 20 and 34 years.
About 53% of the population holds some form of general treatment cover, a figure which held steady over the last quarter of the year.
