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:
*Name:
*Comment:
*Email:


(Date:2/5/2016)... ... 05, 2016 , ... Freed-Hardeman University President Joe A. Wiley ... joint enrollment and degree completion agreement. The agreement, which begins with the ... FHU|Dickson. , The agreement allows students to be jointly admitted to both ...
(Date:2/5/2016)... ... February 05, 2016 , ... The American public tends to feel ... be safer than regular municipal or well water. The recent experience with lead contaminated ... could go a long way toward increasing public acceptance of recycled waste water as ...
(Date:2/5/2016)... York, New York (PRWEB) , ... February 05, 2016 , ... ... announced the election of Patrick McDermott as Chairman of the National Board of Directors. ... Pat as Chairman of the Board,” stated Leslie A. Chambers , APDA President ...
(Date:2/5/2016)... ... February 05, 2016 , ... In sleep, when the defenses of the ... hallmark feature of patients with eating disorders is significant self-criticism, and consequently these patients ... obsessions are regarded as maladaptive means for coping with this unease, but also leads ...
(Date:2/5/2016)... Boston, MA (PRWEB) , ... February 05, 2016 ... ... hosted its inaugural Columbia University Men’s Soccer Career Development event in New York ... KICVentures, and Rocco Commisso, Chairman and CEO of Mediacom, (both alumnus of the ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... , Feb. 4, 2016 Worldwide ... achieve significant growth as next generation systems provide ... use radiology for cancer surgery. New systems pinpoint ... overdosing that has been such a problem previously, ... delivered. Radiosurgery robots take cancer surgery far beyond ...
(Date:2/4/2016)... 2016 Wegener Polyangiitis - Pipeline Review, ... ,Wegener Polyangiitis - Pipeline Review, H2 2015, provides ... This report provides comprehensive information on the ... analysis at various stages, therapeutics assessment by drug ... (RoA) and molecule type, along with latest updates, ...
(Date:2/4/2016)... LONDON , Feb. 4, 2016 ... and competitive market to drive long-term market growth ... very common set of chronic disorders that affect ... disparate in terms of their symptoms and key ... by dysregulation of immune pathways and an inappropriate ...
Breaking Medicine Technology: