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Why private health premiums are rising for second time in 6 months

Scott Emerson
Article image for Why private health premiums are rising for second time in 6 months

Private health insurance premiums are set to rise on April 1 2021, which will mark the second premiums rise in six months. 

“The only reason premiums got up at all is because health funds are paying for more health care,” Private Health Australia Chief Executive Rachel David told Scott Emerson.

“Unfortunately even though we don’t want to put premiums up by a dollar, we need to make sure we have enough to be able to pay our members’ claims.”

Dr David said increased need for surgery in patients over 55 and in-hospital mental health care were major factors.

The 2.74 per cent premium rise will see members paying over $100 more on average per year to stay covered.

The previous rise implemented on October 1, was approved in 2019 but delayed to avoid putting additional pressure on members during the pandemic.

“With any luck, (we’ll see) some changes to the exorbitant amount we pay for medical equipment and devices in Australia, the government is changing that next year, so we hope to deliver a lower, if any, premium increase next year,” she said.

Press PLAY below to hear more. 

Image: Getty Images

Scott Emerson
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