Health Insurance News

Why you need to be careful when comparing your health insurance premium increase

28/02/2017 - 8:52am

Have you recently looked at the industry weighted premium increases due to commence on April 1 and thought "my health insurance is costing far more than I can afford"? When comparing your health insurance to another, you need to be careful about the conclusions you make.

24/02/2017 - 4:17pm

When was the last time you were forced to hire a new employee because one of your workers left for a competitor? They might have seen a higher pay packet, better corporate structure, or a more attractive benefits package. As many as 40 per cent of employees surveyed by Fast Company in February 2016 listed corporate health insurance as a desirable benefit. The next most popular was paid holiday leave, at 37 per cent.

24/02/2017 - 9:22am

Do you want your business to one day be rated among the best in the world? It might not be for financial performance or technological innovation, but if you can create one of the greatest company cultures ever, your business would be revered. How can you go about doing that?

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.

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