Private Healthcare Australia responds to opposition leader’s comments
Private Health Insurance is back in the media spotlight, with the Leader of the Opposition stating that some health insurance providers are lining their pockets with returns of over 20 per cent.
Industry regulator APRA confirms that net profit margins have remained stable at below 6 per cent in recent years – a reasonable return when compared with other insurances.
Teachers Health is a not for profit organisation. We work hard to find a balance between addressing the increasing costs of healthcare, while keeping our costs as low as possible for our members and continuing to provide quality health insurance.
This year we delivered our lowest premium increase in a decade at an average 2.84% (well below the industry average of 3.95%).
We also return the majority of premiums (just under 90% in 2017) as benefit payments to members. Our claims payments in the last financial year increased by 7.8%, which is much higher than our average rate increase.
Private Healthcare Australia's CEO Dr. Rachel David has responded to the comments made by the Leader of the Opposition. Read more.