Teachers Health welcomes private health insurance reform
Teachers Health welcomes the private health insurance reforms announced today by the Minister for Health, Mr Greg Hunt, designed to make health insurance more affordable, simpler to understand and sustainable.
The proposed reforms include discounts for young people, increased mental health benefits, new product ratings for all health policies with four levels of cover: gold, silver, bronze, and basic, cost cuts for prosthetic devices, as well as a greater role for the ombudsman.
Teachers Health CEO, Mr Brad Joyce, says the reforms help to address some of the key issues that the industry and wider community are facing.
“As a not-for-profit organisation, Teachers Health supports any measure that results in a positive outcome our members.”
“We know that one of the key issues that our members are facing is affordability, so we welcome changes that will further improve the affordability, participation and value of private health insurance for our members,” said Mr Joyce.
Key measures announced today include the reduction of inflated prostheses list benefits, with savings to be passed on to consumers, and the Lifetime Health Cover discount proposed for people aged under 30.
“Providing a discount for young people to participate in private health insurance will also be a major factor in addressing membership rates, and improving participation and affordability.”
“Overall, the announcement made by the Minister today is a step in the right direction in ensuring the sustainability of the private health insurance system, which subsequently contributes to Australia’s broader health care system,” said Mr Joyce.