Since 2019, the big four private health insurers have been refusing to pay their NSW hospital bills in full. The state government is introducing laws to change that.
The NSW government will use legislation to force the big four private health insurers to pay their hospital bills in full, after their refusal to do so since 2019 cost the state $700 million.
In the last financial year, the single room rate for private patients in public hospitals was gazetted at $892, but HCF has only been paying $463, NIB $491, Bupa $501, and Medibank $515. Each year this costs NSW Health about $140 million. The government says since insurance companies stopped paying the correct rates, profits have doubled. In 2022-23 alone the industry recorded a $2.2 billion profit, a rise of 110 per cent from the previous year.
However, not all insurers are underpaying, with 44 of 53 private health insurers either already paying the correct rate, or having now agreed to resume paying after discussions with the government.
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