There's no doubt health insurance premiums are a necessary cost for millions of Australians. In fact, a total of 13.5 million people have health insurance in our country, according to the most recent statistics provided by the Australian Prudential Regulation Authority (APRA).
That's why it's such exciting news that a new initiative by the Government could put downward pressure on premium increases in 2017 and beyond. We've had a closer look.