Private health insurance premiums to rise
Private health insurance premiums are set to increase an average of 5.59 per cent.
The changes will come into effect from April 1 this year, with the increase in premiums just below the 6.2 per cent rise demanded by insurers last year.
After Federal Health Minister Sussan Ley had asked insurers to justify the slated 6.2 per cent rise, 20 Australian funds lowered the figure in their request.
“Overall, consumers will be $125 million better off as a direct result of our request for insurers to resubmit lower premiums, saving an average family with combined hospital and general health cover as much as $166 per year,” Mr Ley said.
In an interview on ABC Radio, Labor health spokeswoman Catherine King said it was good the government had gone back to the insurers, but stressed, “Frankly these are still very high price premium increases. Here is the government increasing the private health insurance premiums by more than three times the inflation rate.”
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