Navigation Links
Increase In Health Insurance Premium Likely In Australia

With the ever increasing technological advancement, improved health care and a significant rise in medical costs, an increase in the private health premium is likely be to be implemented sooner or later in Australia. // Despite reports of profit, insurers have approached the Federal Government to approve a 5 to 7% increase for the fifth consecutive year.

If the proposal were to be approved, health consumers would have to pay nearly $300 for their payment of their private health insurance premium. It would be 40% more than what was paid 5 years ago for the same amount of health coverage. This is expected to be a double blow, when the inflation rate has doubled over the previous years.

The Australian Medical Association has issued a warning against the anticipated rise. It is further believed that the move would dislodge more people out of the private health care system, paving way for a destabilization of the public health system. A mixed opinion has been obtained regarding the proposal from government and health insurance officials.

"I haven't seen any reason for how they can justify that level of increase. If people leach out of the private health system because it becomes too expensive, or the products do not give people the cover they require, then we will really alter the balance and cause tremendous destabilization," said Dr Mukesh Haikerwal, President of AMA.

"These increases, in dollar terms, wipe out the contribution of the government's rebate, even at the higher levels now provided for older Australians," said Labor health spokeswoman Julia Gillard.

"No one likes to see premiums go up in this sector. The funds are only allowed to increase premiums to the extent it is strictly necessary to maintain services and preserve capital adequacy," said federal Health Minister Tony Abbott.

"I'm aware that the cost pressures are continually escalating. That's not rocket science. Everybody knows that the technology that is available for sick people today is 20 times better than it was not very long ago and it's more expensive," said Michael Armitage, Chief executive of Australian Health Insurance Association.

Health insurance companies have refused to disclose the percentage of increase requested from the Government. The details are likely to be announced in late February or early March. The new approval would be implemented from the first of April.


Related medicine news :

1. Use of Cellular Phones associated with Increased risk of Brain Tumors
2. Increase in sugar...decrease in brain function!!!
3. Increase in tobacco deaths
4. Increased Heart Attack Risk From Celebrex,Vioxx
5. Deep Sleep Doesnt Increase Memory
6. Allergy Risk Increased by Kerosene Use
7. IVF technique May Increase The Risk Of Birth Defects
8. Step Aerobics Increases good cholesterol
9. Increase in renal problems
10. Fewer teeth & Increased Ischemic Stroke risk
11. Painkillers Increase Risk of Miscarriage
Post Your Comments:

(Date:11/25/2015)... ... November 25, 2015 , ... The McHenry County law ... successful appellate decision obtained by Attorneys Francisco J. Botto and Alex C. Wimmer. Attorneys ... Workers’ Compensation Comm’n, 2015 IL App (2d) 130884WC. , According to court documents, Adcock ...
(Date:11/25/2015)... ... November 25, 2015 , ... SCOTTSDALE, AZ) - Today, ... in both surgical and non-surgical treatments, announced the expansion of his private practice ... Surgery. , Highly trained and nationally recognized for his natural approach, Dr. ...
(Date:11/25/2015)... MI (PRWEB) , ... November 25, 2015 , ... In ... Presence Resurrection Medical Center (RMC) in Chicago, IL, UV Angel is evaluating the efficacy ... medical and surgical intensive care units (totaling 30 beds) from May 2014 through October ...
(Date:11/25/2015)... Missouri (PRWEB) , ... November 25, 2015 , ... ... HEAL, will provide scholarships for people struggling with eating disorders as a result ... from the second annual event, held at Fox Run Golf Club in Eureka, ...
(Date:11/25/2015)... ... 2015 , ... Privately owned Contract Development and Manufacturing Organization ... current state of the art research, development and manufacturing facility outside of Fort ... capacity as well as to support its clients’ growing research and development and ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... Endo International plc (NASDAQ: ENDP ) (TSX: ... and CEO, will discuss corporate updates at the 27 th ... York on Wednesday, December 2, 2015 at 1 ... Relations, and then the link to the event. Participants should ... to visit the site and download any streaming media software ...
(Date:11/25/2015)... Asia -based venture ... and the New Investors will make a direct equity ... private placement. The financing will help IOPtima to continue ... in the treatment of glaucoma, as well as to ... system with the U.S. Food and Drug Administration, commencing ...
(Date:11/25/2015)... PHILADELPHIA, Pennsylvania , November 25, 2015 ... Continuing Medical Education (CME) --> ... Care Continuing Medical Education (CME) ... -of- Care Continuing Medical Education (CME) ... and medical information products and services, will feature latest diagnostic imaging ...
Breaking Medicine Technology: