Thursday, 20th December 2018
Reforms by the Liberal National Government to private health insurance has delivered, with the lowest annual premium change in 18 years.
For 2019, the average premium change will be 3.25%, and when compared to the last increase under a Labor Government this is down over 40%.
Additionally, from 1 April 2019 insurers will also be able to offer youth-based discounts of up to 10% for 18 to 29-year old’s.
“This is a great outcome for North Queensland, Northern Australia and the entire nation,” Senator Macdonald said.
These results show that the reform package our Government announced in October 2017 has had a real effect on the affordability of private health insurance. This premium change will see a single person will pay an average of $1.14 extra per week and a family on average will pay $2.35 more a week.
It is acknowledged that the costs of providing health services naturally increases, meaning insurance premium increases.
“But the increases have been kept to the lowest level since 2001. It is because of the Coalitions reforms that Australians will now have access to Private Health insurance that is simpler and more affordable,” Senator Macdonald said.
For more information on the premium change, visit the Department of Health website.