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Health Insurance News

20/02/2017 - 11:39am

As of April 1 this year, health insurance premiums will increase across the industry, and government rebates on private health insurance will decrease. A Department of Health (DoH) media release from February 10 states that the average premium increase for 2017 will be 4.84 per cent - the previous lowest since 2010 was 5.06 per cent.

15/02/2017 - 4:18pm

Do you understand the Medicare Levy Surcharge (MLS)? In order for the health insurance industry to stay viable and for premiums to remain affordable for all Australians, the Howard Coalition government introduced the MLS in the early 2000s. It was a way of encouraging higher income earners who didn't have private health insurance (PHI) to participate in PHI, otherwise they would have to pay a penalty. That's according to Private Health Australia.

13/02/2017 - 9:24am

If you have used your private health insurance (PHI), you'll understand how valuable it is. In fact, CEO of Private Healthcare Australia Dr Rachel David states that 84 per cent of people with PHI want to keep it, even though the average income of someone with a policy is under $50,000.

25/01/2017 - 1:59pm

What's the average age of employees in your business? Depending on your industry, and the age of your company, it might be higher than you expect. If you've had employees working for you for 20 years, some of them are likely going to be over 50. Of course, having someone work for you for such a long time is a good thing - it shows that your employee retention is good and that people genuinely want to spend time at your place of business.

23/01/2017 - 4:58pm

Ever noticed a relationship between the number of employees on holiday and drops in your business productivity? You're not alone. Of course, when people take sick days or annual leave, you don't have them contributing to your operations - but they still cost you money.

19/01/2017 - 11:13am

Greg Hunt has taken on the role of Health Minister from the outbound Sussan Ley after she resigned last week amid an expenses scandal relating to her recent property purchase. Mr Hunt is Prime Minister Malcolm Turnbull's fourth appointee to the role of Health Minister since he took office in September 2015.

18/01/2017 - 9:52am

Have you ever had to take time off work because of something unexpected? Chances are the people in your workforce have as well, and it might have left you without an employee for a day or two. Depending on the illness, it might have even been longer, and kept your productivity low for a number of weeks. If a core part of your workforce isn't present because of a treatable illness, you'll feel hard done-by.

18/01/2017 - 9:52am

Have you ever struggled with your fitness, or had heart pains related to a lack of exercise? It could have been something more serious than just a tweak in your chest, it might have been a chronic disease. Approximately 22 per cent of Australians reported having a chronic cardiovascular condition in 2011-12, according to the Australian Institute of Health and Welfare (AIHW). That's just under 4 million people.

17/01/2017 - 10:59am

Australia's two largest hospital operators want to remove the private health insurance sector, and allow  consumers to establish medical savings accounts, according to an Australian Financial Review article from October 2016. The medical savings accounts would empower people to deal directly with private hospitals, and Ramsay Health Care and Healthscope are leading the charge for the initiative.

13/01/2017 - 9:20am

Have you recently looked at your private health plan and been disappointed? More than 5 million people reviewed their private health cover in the last 12 months, as stated in a Guardian Australia article from November 2016. As premiums rise but cover remains the same, people become less satisfied that they're getting what they're paying for. The next time your employees review their private health cover, a corporate health insurance could prove very useful.

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