We're paying $834 million more for health insurance but getting less

Sydney Morning Herald

26 November 2018 - Australians paid $834 million more for health insurance in 2017-18 compared to the year before, despite hundreds of thousands either dropping their cover or shifting to cheaper policies, a new report shows.

The Australian Competition and Consumer Commission's annual report on the private health insurance industry found policyholders paid $23.9 billion in premiums in the past financial year – an increase of 3.6 per cent – on the previous year's figure.

But in that time, tens of thousands dropped their hospital or combined cover and hundreds of thousands switched to policies with exclusions, or excess and co-payments.

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Michael Wonder

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Michael Wonder