Mark Butler says premiums will rise by 3.03% on average, as some providers outline larger increase
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The federal government has approved private health insurance premiums increases amounting to an average of 3.03% this year, but already one major insurer has said their prices will rise by 4.1%.
The health minister, Mark Butler, on Tuesday announced the annual rise in private health premium, three weeks before the price changes come into effect on 1 April. He said the 3.03% increase, which was the average rise across the sector, was lower than annual rises in inflation and wages, and had been decided after “considering [insurers’] years of record profits”.
Continue reading…Mark Butler says premiums will rise by 3.03% on average, as some providers outline larger increaseFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe federal government has approved private health insurance premiums increases amounting to an average of 3.03% this year, but already one major insurer has said their prices will rise by 4.1%.The health minister, Mark Butler, on Tuesday announced the annual rise in private health premium, three weeks before the price changes come into effect on 1 April. He said the 3.03% increase, which was the average rise across the sector, was lower than annual rises in inflation and wages, and had been decided after “considering [insurers’] years of record profits”.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…