There is a fatal flaw in Australia's private health system, according to a public policy think tank that has released its plan to make the system sustainable.
The shaky state of the private health insurance industry has also been highlighted by a consultation paper from the prudential regulator, which has declared the system is under pressure.
"While some insurers are evolving their business, innovating and looking at new models to provide services to their members, this is not the case with many," APRA Executive Board Member Geoff Summerhayes said. The regulator's most recent review of the sector started last year, and is looking at how insurers guarantee they have enough money to pay out claims - even if they are hit with unexpected losses.
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