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.