Posted by Michael Wonder on 05 Feb 2018
Thank Mediscare for high private health insurance premiums
6 February 2018 - In last year's Budget, the government declared open season on the banks. Why? Because they made too much money, have an implied government guarantee, charge too much in fees and because nobody liked them.
Having set a precedent, the opposition has decided to follow suit, putting the private health insurance industry (which no one seems to like either) "on notice" for … making too much money, holding too much capital and the cardinal sin of charging too much in premiums.
Yet having attacked the private health rebate, Bill Shorten didn't suggest abolishing it, lest he alienate aspirational voters who want private health cover. So, instead he wants to cap yearly price rises to 2 per cent by regulatory fiat and have a Productivity Commission report into the industry.
