Posted by Michael Wonder on 10 Feb 2017
Lowest health insurance premium increases in a decade
10 February 2017 - The Australian Government’s action to keep the pressure on private health insurers has helped drive the lowest premium price rise in ten years.
The Turnbull Government’s action to keep the pressure on private health insurers has helped drive the lowest premium price rise in ten years – lower than any year under the Rudd and Gillard governments.
Health funds will have average weighted premium increases from as low as 2.98 per cent, from 1 April 2017. The industry average weighted premium increase will be 4.84 per cent.
For a single person the average weekly increase will be around $2, and for families the average increase will be around $4 a week.
Meanwhile, the amount of benefits paid out by private health insurers increased 5.4 per cent over the last financial year.
