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Health Insurance News

27/06/2011 - 5:08pm

Private health insurance costs have been rising by an average of six per cent per year over the past five years, but a new study reveals that savings can be made by individuals and businesses by re-evaluating their current cover.

The Your Money magazine study found that couples and families could save over $2,700 per year by switching plans.

"Even singles looking for a less comprehensive level of cover can save over $1,200 per year, so there’s no reason to spend too much on private health cover," said the magazine's managing editor Jackie Pearson.

24/06/2011 - 3:11pm

Australian employees who are primarily office-based have been described as "workaholics" due to the results of a recent survey.

NorthgateArsino, a provider of global HR services and systems, found that while technology - such as instant messaging and smartphones - have made staff more productive at work, they are also cutting into their personal time.

More than half the respondents in a recent survey admitted to carrying out work tasks from home, while 29.4 per cent claimed to work during their commute to and from the office.

24/06/2011 - 3:09pm

Private health insurance has been identified as a useful incentive to help combat turnover in the nursing profession.

New research set to be published in an upcoming issue of The Gerentologist suggested that pay alone is a small deciding factor on whether a nurse stays or leaves a nursing home job.

23/06/2011 - 4:26pm

Mothers and babies are likely to receive better outcomes in the private health care system, as expectant mums have better access to senior obstetricians earlier in their pregnancy than they would in the public sector, according to a leading expert.

Speaking to the Canberra Times, Dr Andrew Foote, president of the National Association of Specialist Obstetricians and Gynaecologists, commented on the different types of care available to expectant mothers in Australia.

While Dr Foote stressed the public system is safe, "the private system is safer".

23/06/2011 - 4:25pm

Private health insurance, access to additional training, office perks and time off for volunteer work have been identified as some of the best incentives for attracting and retaining top-quality talent.

The nation's top 50 places to work in 2011 were recently identified by BRW and a number of common themes were noted among Australia's best employers.

09/02/2011 - 1:19pm

A recently released industry report shows the largest 5 health funds account for 84.1% of the market. This leaves 27 insurers sharing the remaining 15.9% of the market. The report says that despite their size the smaller insurers play an important role in the market.

There are currently more than 30,000 complying health insurance products on offer to consumers. Not all these products are available to everybody as certain health funds only sell into niche markets or are restricted as to who can buy their products.

09/02/2011 - 1:18pm

The Government will soon be approving the health funds’ applications for a price rise. The Government will make the usual noises about keeping the health funds honest and keeping the price rise to a minimum. With over 70% of the market covered by for-profit health funds it will be difficult to see the government overcoming the desire of the industry to maintain profit margins following a period where fund surpluses nudged a billion dollars.

07/02/2011 - 11:10am

A recent article in The Age newspaper by Peter Jean on 19th January has lighted the pitfalls of health funds selling “Exclusionary” products.

The article expresses concerns by senior industry officials that the surge in the number of people taking out exclusionary products will undermine the value of health insurance. The implication is that consumers may not be aware of what is covered and what is not covered. It will only be at the time they attempt to make a claim that they will find they could be out of pocket tens of thousands of dollars.

08/12/2010 - 12:00am

NIB Holdings Limited (nib) announced that it had withdrawn its proposal for GMHBA after failing to win support for its revised $180 million proposal from the Board of the Geelong-based mutual health fund.

nib Managing Director Mark Fitzgibbon said that nib believed strongly that a merger with GMHBA was in the interests of both nib and GMHBA and would help to reduce pressure on premium increases.

20/10/2010 - 12:00am

In the recently released September quarterly statistical report of the Private Health Insurance Administrative Council 10,064,043 people, or 44.8% of the population, were covered by hospital treatment cover. This is the first time there has ever been more than 10 million people in Australia with hospital insurance since the introduction of Medicare.

Surprisingly, 11,647,801 people or 51.8% of the population had some form of general treatment cover. General treatment pays benefits for things like dental, optical, physiotherapy, orthotics, hearing aids and natural therapies.

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