Country Correspondent: Aisha Gomez
In 2018, Australians can expect to see the lowest private insurance premium increases in nearly two decades. The average weighted premium increase will be less than 4 percent, the lowest since 2001. An average single person will pay around AUD $1.40 extra a week, and the average family around AUD $2.75. In a press release, Health Minister Greg Hunt attributed this to the significant private health insurance reforms that were enacted by the Turnbull government late last year. These included lower negotiated prices for implanted medical devices and an annual AUD $6 billion investment into insurance rebates. Approximately 13 million Australians, or more than half of the country’s population, currently have private health insurance in addition to statutory coverage through Medicare, to help pay for private hospital and dental care, optometry, and increased choice and faster access to elective services.
