A survey of 1000 adults undertaken by YouGov Galaxy for the Medical Technology Association of Australia found the cost of premiums followed by a lack of value for money and out of pocket expenses were the leading reasons for people dropping out of, or failing to take up cover in the first place. MTAA CEO Ian Burgess says the government needs to take action to make private health insurance a more attractive option for consumers.
Australians dropping their private health insurance coverage represents an additional person joining our already overcrowded public health system. There is also bad news for the 11 million Australians who have maintained their private health insurance coverage with yet another round of premium increases coming in next year. That will see premiums rising from 50-dollars to more than 300-dollars per policy with the big insurers increasing premiums to twice the rate of inflation.
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