SKIP TO MAIN CONTENT

Health insurance hikes spark anger

Private health insurance members are angry about another rise in premiums and being urged to consider revising their cover.

Private Insurance (SBS
Private Insurance (SBS Source: SBS

4 min read

Published

Updated



Skip to article content

Private health insurance members are taking to social media to voice their frustration at the latest premium hikes.

Families will be slugged about an extra $200 a year when health funds lift their premiums by an average 5.59 per cent on April 1.

Health Minister Sussan Ley gave the green light to private health insurers to raise premiums on Wednesday, saying this year's rise was below the 6.2 per cent allowed in 2015.

But that news was no consolation for policyholders.

"I would like to see the figures where the private health insurers can justify such a high price rise compared to the cost of living and inflation rates," Warren Herrick wrote on Facebook.

Mother Yarby Therese said the premium hike spelled the end of private health for her family.

"Just can't do any more increases like that and that money is better off in our mortgage," she wrote.

Kay Ross lamented that ordinary Australians were losing out.

"Why is it so hard for the health minister to say No!," she wrote.

Michael Siddle directed his anger towards the insurers: "This is a disgrace and just lining the pockets of the funds."

However, the health funds argue that the fee increases are needed to help them cope with the rising costs of healthcare, combined with Australia's ageing population.

"Australians are being admitted to hospital more and receiving more treatments each stay than ever before," Medibank Private managing director George Savvides said.

Consumer advocacy organisation Choice says health insurance policy holders should consider dropping extras cover to save thousands of dollars.

"You need to find out if you're paying more to your health insurance fund than you're getting back in benefits for extras services such as going to the dentist," Choice spokesman Tom Godfrey said.

"So get your insurer on the phone and ask for a claims statement."

Comparison website iSelect suggests people should shop around for a new provider if they are unhappy with the fee hikes.

Some insurers are increasing their average premiums by more than eight per cent, while others will pass on increases of around four per cent.

"This difference highlights the importance of taking the time to review your cover and compare how it stacks up against other providers," iSelect spokeswoman Laura Crowden said.

List of health funds and their increase in premiums:

    ACA Health Benefits Fund Ltd 6.19%

    Australian Unity Health Ltd 5.05%

    BUPA Australia Pty Ltd 5.69%

    CBHS Health Fund Ltd 5.92%

    Cessnock District Health Benefits Fund Ltd 6.19%

    CUA Health Fund Ltd 8.95%

    Defence Health Ltd 5.48%

    Doctor's Health Fund Pty Ltd, The 3.76%

    GMHBA Ltd 5.44%

    Grand United Corporate Health Ltd 4.26%

    HBF Health Ltd 4.94%

    Health Care Insurance Ltd 6.90%

    Health Insurance Fund of Australia Ltd 6.55%

    Health Partners Ltd 7.14%

    Health.com.au Pty Ltd 8.81%

    Hospitals Contribution Fund of Australia Ltd, The 5.42%

    Latrobe Health Services Ltd 5.52%

    Lysaght Peoplecare Ltd 4.38%

    Medibank Private Ltd 5.64%

    Mildura District Hospital Fund Ltd 6.74%

    National Health Benefits Australia Pty Ltd 5.28%

    Navy Health Ltd 5.50%

    NIB Health Funds Ltd 5.55%

    Phoenix Health Fund Ltd 5.72%

    Police Health Ltd 4.81%

    Queensland Country Health Fund Ltd 4.91%

    Queensland Teachers' Union Health Fund Ltd 7.15%

    Railway & Transport Health Fund Ltd 5.61%

    Reserve Bank Health Society Ltd 5.37%

    St Luke's Medical & Hospital Benefits Association Ltd 5.89%

    Teachers Federation Health Ltd 4.97%

    Transport Health Pty Ltd 6.49%

    Westfund Ltd 5.94%


News

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS Chinese

Download our apps

Listen to our podcasts

Get the latest with our exclusive in-language podcasts on your favourite podcast apps.

Watch on SBS

Simplified Chinese Collection

Watch onDemand

Stream now