Private Health, Public Benefit

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A strong health insurance sector benefits all Australians by easing pressure on public hospital waiting lists. More than 13 million Australians rely on private health cover and they want the security of knowing they can have healthcare when they need it.

More than 1 in 4 people with Private Health Insurance have an annual income of less than $30,000.

Almost half of all people with Private Health Insurance have an annual income of less than $50,000.

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PHI Funds Keep Premiums Affordable

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The Government’s announcement that the average premium increase for Private Health Insurance Funds will be 5.59%, the lowest increase in four years, demonstrates the industry’s commitment to keeping premiums affordable for its members.

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Health Funds Increase Efficiency

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Health Funds have become increasingly efficient with both management expense ratios and net margins reducing significantly in recent years.

The Private Health Insurance Industry’s MER has been dropping progressively since 2008 from 10.5% to 8.5% in 2014.

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PHI Rebate Keeps Pressure off Public Hospitals

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The Private Health Insurance Rebate helps to keep premiums affordable, encourages Australians to take out private health cover and eases pressure on the public hospital system, Private Healthcare Australia Chief Executive, Dr Rachel David said today.

“Each year in its pre-budget submission, the Australian Council of Social Services calls for an end to the Private Health Insurance Rebate and each year ACOSS fails to acknowledge the crucial role the Rebate plays in both the private and public sectors of Australia’s health system,” Dr David said.

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