4 February 2020 - The prudential regulator has questioned the ongoing viability of Australia’s ailing private health insurance system and called for an urgent government review into its future, as insurers continue to punish policyholders with increased exclusions and higher premiums.

The Australian Prudential Regulation Authority on Tuesday warned only three private health insurers will have a sustainable business model by 2022, as young health fund members continue to dump cover and as more older and costly members continue to take up insurance.

Despite repeated warnings from the regulator to shore up their businesses, APRA executive Geoff Summerhayes said the industry was “seemingly waiting for the government to find a miracle cure” for the headwinds facing the sector.

Read The Australian article