APRA’s latest quarterly private health industry (PHI) figures show younger members continue to abandon PHI funds. The biggest drop in 2Q20 on 1H20 was among 30-34-year olds, down 10,286 and the biggest net decline, taking into account movement between age groups, was in the 25-29 age group, down 11,649. In all, 11.2m people, or 44%…
Australians are abandoning private health insurance (PHI) because it is too expensive, too confusing and offers too little value, consumer advocate Choice says.
Financial Services Council (FSC) says it broadly supports APRA’s proposed changes to the insurance in super framework, including changes responding to the financial services royal commission’s recommendations.
A warning by APRA member Geoff Summerhayes the private health insurance (PHI) industry needs to change its business model or it will enter a “death spiral”, was this morning described as “incredible alarmist” by HCF CEO Sheena Jack.
The sustainability of the private health insurance (PHI) industry, particularly not-for-profit funds, is under serious threat, APRA member Geoff Summerhayes warned Members Health Directors Professional Development Program today.