Government unveils lowest health insurance premium increase in 19 years | fergushunter
The federal government has announced the lowest increase in private health insurance premiums in two decades, revealing premiums on average will go up 2.92 per cent in 2020.
Mr Hunt has faced pressure from consumers, who want premiums restrained, and from health funds, who complain that rising costs are threatening their business models.The Health Minister approves insurers' proposed premium increases each year. Mr Hunt's efforts to keep premiums down has been challenged by insurers'From April 1 next year, a single person will pay an average of 68 cents extra per week and a family pay will pay $1.99 more a week, according to the government.
Grattan Institute health economist Stephen Duckett welcomed the rise, saying it was surprisingly positive for customers."This is good news for members and is less than I expected. The benefit payments increase were more than 4 per cent last year and so getting a premium increase under 3 per cent is good news indeed," he said.
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