Private health funds to slash benefits ahead of price hike
Some private health fund customers are having their benefits slashed, ahead of the introduction of government reforms.
Weeks after announcing premium rises, insurers have started informing customers about changes to their entitlements.
It’s reported some Medibank customers stand to lose benefits for up to 70 treatments, including some for weight loss and fertility.
NIB is also planning to make cuts.
Customers are being informed about the changes to policies ahead of the “Gold, Silver, Bronze” reforms, which will take effect in April.
The Grattan Institute’s Health Economist Stephen Duckett predicted the changes would lead to premium hikes.
He says customers have long complained about the difficulty of comparing funds, which is where the “Gold, Silver, Bronze” reforms come into play.
He tells Natalie Peters and Erin Molan the government will “squeeze thousands and thousands of policies down into a much reduced five basic levels”.
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