Nine-Year High in Private Health Insurance
Australia has reached its highest rate of private hospital insurance participation in more than nine years, with 44.9 per cent of the population covered.
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21 February 2011
Australia has reached its highest rate of private hospital insurance participation in more than nine years, with 44.9 per cent of the population covered, the Minister for Health and Ageing, Nicola Roxon, announced today.
Minister Roxon welcomed the continued growth, which further points to the strength of the private health insurance sector, and again foreshadowed the Gillard Government’s intention to better target the Private Health Insurance Rebate away from the richest in society.
“The strength of the private health insurance sector is again clearly evident today as we see Australia finished 2010 with the highest private hospital insurance participation rate in nine years,” Ms Roxon said.
“Private hospital insurance cover grew by 2.5 per cent in 2010, outstripping population growth of 1.7 per cent.
“Again, this disproves the Opposition’s scare tactics that our changes to the Medicare Levy Surcharge would result in a million people dropping out of private health insurance. In fact, we have seen more than 725,000 Australians take out hospital cover under Labor.
“We are committed to reintroducing our private hospital insurance changes into the Parliament this year.
“These changes will ensure Government subsidies through the rebate are not directed towards the richest in society—and remain focussed on the millions of low and middle income Australians who need and deserve assistance.
“If the changes do not go ahead, Treasury modelling indicates this will cost the budget $100 billion over the next four decades.
“This is funding that could lead to more investment in doctors, nurses and hospital beds.”
Under the Government’s proposed changes, the Private Health Insurance Rebate will be provided to all singles earning up to $124,000 per year, or couples on less than $248,000.
Treasury modelling estimates that, after these changes, 99.7 per cent of people will remain in private health insurance.
Highlights:
The figures released today by the Private Health Insurance Administration Council (PHIAC) show that, in the December 2010 quarter:
- 10,117,522 people (44.9 per cent of the population) covered by hospital treatment insurance policies, an increase of 53,479 people from September 2010. This is the first time since 1982 that private hospital cover has passed 10.1 million.
- 11,714,628 (52.0 per cent of the population) covered by general treatment policies, an increase of 66,827 from September 2010.
More information is at www.phiac.gov.au/for-industry/industry-statistics/
For more information, contact Ms Roxon’s Office: (02) 6277 7220
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