TURNBULL’s PRIVATE HEALTH INSURANCE POLICY COLLAPSES
The Turnbull Government is refusing to guarantee that Australians will see a lower private health increase in 2018, as private health insurers distance themselves from the Government’s claimed savings.
Private health insurance groups have admitted that have admitted the changes will shave just $34 from an expected $200 a year premium hike next year – that’s less than 65 cents per week for a family.
And in another hit for older Australians, insurers have admitted that if they don’t reach a quota of young Australians signing up, older policy holders will be hit with yet another increase to cover the shortfall.
There is absolutely nothing in this package to address the damage done to private health insurance by this Government. A family paying an average $900 more as a result of the 23% increase to premiums under the Liberals won’t see a dollar returned to their Budget – and their premiums will still increase next year.
In addition, there are serious questions if these changes will actually do anything to get young people back into cover. A young person signing up to an average $1800 policy will only save around 70 cents a week – not even enough to buy a coffee a month.
And the trade off of slightly lower premiums for higher excesses is particularly concerning – and could leave people facing even bigger out of pocket costs, or avoiding using their cover altogether.
The fact is that this package completely fails older Australians and families.
The people who pay the most for private health, and use the most private health, will continue to see their premiums increase next year.