compare, select and save ™
on health & life insurance

  • Health Insurance
  • Life Insurance
  • [Help?]

Why do funds increase their premiums?

Health insurance funds generally increase premiums to cover the growing cost of medical treatment and other services brought about by rapid improvements in medical technology.

Combine these costs with increasing overheads and claims pay-outs, and the dollars really start to stack up.

Private health funds paid over $6,687 million** for in-hospital treatments and $2,393** million for general treatment (extras) in 2006-07.

Rate increases are necessary to cover these costs and ensure that there are sufficient margins to meet minimum financial requirements of the Private Health Insurance Administration Council who administer the Private Health Insurance Act 2007 (www.phiac.gov.au)

SOURCE DISCLAIMER

*Source: Dept. Health and Ageing web site, 6 March 2008 (www.health.gov.au)

**Source: Private Health Insurance Administration Council Annual Report 2007 (www.phiac.gov.au)

Start Comparing!
Compare a great range of policies from our participating health funds.
We match your age and gender to information published by the Australian Institute of Health & Welfare.