Thursday 8th May 2008 |
Text too small? |
The March quarter, which is traditionally negative, showed positive growth for 2008, up by 600 policies.
Health insurance claims paid in the March quarter amounted to $149 million, taking the total for the year to March 31 2008, to $631 million, an increase of $48 million or 8.3% on the previous 12 months.
Roger Styles, HFANZ executive director, believes the increase was attributable to growth in the numbers of people insured, an increase in the number of claims an insured individual makes and the increasing cost of treatment.
Significant growth was noted in the number of people aged between 20-29, up 9.2%, and the 60-69 year age group, up 11.3%.
The trend away from comprehensive policies and towards major medical insurance continues, the report says. The net 18,800 increase in lives covered represents an increase of 34,700 people with elective surgical and specialist cover, and a reduction of 15,900 having comprehensive insurance.
Elective surgical and specialist cover now accounts for 884,000 of the 1.388 million lives covered, or 63.7% of those covered by health insurance. Comprehensive health insurance accounts for just 503,600 lives covered, or 36.3% of policies.
The report says people are increasingly accepting the fact that the public system cannot deliver many elective procedures to either the quality or the timeliness that people expect from the health system, and are therefore taking matters into their own hands by taking out private health insurance.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes