Private health premiums tipped to soar as more young people drop cover

Sydney Morning Herald

19 November 2019 - Health Minister Greg Hunt's effort to slow the increase in the cost of health insurance has hit a roadblock, with new data showing young Australians are continuing to drop their cover while insurers grapple with the rising cost of funding services for their ageing members.

The number of people aged between 25 and 29 with hospital cover fell by more than 7,000 in the three months to September, data from the Australian Prudential Regulation Authority revealed.

During the same period, the cost of paying for members' hospital treatment – mostly for older Australians – increased by 2.9 per cent to hit more than $4 billion.

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Michael Wonder

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Michael Wonder