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19/02/2018 - 9:06am

The Labour party has come out swinging at health insurance funds. They called yearly premium increases aggressive and claimed health funds made billions in profit every year. Firstly, Australian Prudential Regulation Authority statistics put total profits of all health funds at just over $1.2 billion. Secondly, premium increases aren't an aggressive move to increase profit - they're quite the opposite.

07/02/2018 - 8:56am

Basic cover is an essential part of the complex private health insurance market, and a product of high value to those who use it. Despite that fact, it has come under fire in the media recently with some industry commentators questioning it's value.

With that in mind, let's have a closer look at why the market needs basic health insurance, and why so many customers value it.

15/12/2017 - 8:44am

There are over 2 million businesses in Australia and over 90 per cent of these are non-employing, micro or small businesses, Treasury data shows. And these fast moving, small organisations are driven by their most valuable asset - their people. 

13/12/2017 - 3:40pm

People between the ages of 20 and 29 are the least likely to hold a health insurance policy for both hospital and general treatment, Australian Prudential Regulation Authority data shows. Plus, over the September quarter, almost 9,000 Australians aged from 25 to 29 dropped their cover (the largest decrease of any age group).

27/11/2017 - 1:48pm

There's a problem with Australia's private health insurance cover. In fact, only 55 per cent of the population have insurance covering general treatment, according to the latest Australian Prudential Regulation Authority (APRA) statistics.

27/11/2017 - 1:10pm

The average Australian health insurance premium has increased by between 4.8 and 6.2 per cent every year since 2010, Department of Health data shows. While the vast majority of consumers still see great value in their health insurance, it's understandable that some are put off by these continuous price increases.

20/11/2017 - 4:51pm

Over 13.5 million Australians have some form of private health insurance, Australian Prudential Regulation Authority (APRA) data shows. That's well over half the population, a coverage level far better than many other advanced nations like New Zealand, the UK and Ireland. 

26/10/2017 - 2:09pm

Productivity growth in Australia averaged 1.8 per cent a year on average from 2010 to 2016, Treasury data shows. This gradual rate leaves room for business profits to stall and for the incomes of Australian workers to fall behind the cost of living. 

17/10/2017 - 11:16am

Employee health is big business all over the world. In fact, a RAND Corporation study from 2014 found that 75 per cent of US businesses had, or were intending to implement employee wellness initiatives. Such movements are rapidly gaining popularity in Australia too.

12/10/2017 - 11:32am

The private health insurance industry is committed to keeping premiums as low as the market permits. After all, doing so is in everyone's best interests - to guarantee the sustainability of the industry and ensure that insurance policies remain affordable for all Australians.

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