Last week there was a news story that mentioned that only three private health insurers would still be viable by 2022 according to current trends unless changes are made.
Are you surprised by this statement by APRA?
To be honest, they have no one to blame but themselves.
For years they have taken the you know what out of the public with yearly increases way above CPI and on top of that have often cut what they give rebates on.
As a result, a bunch of young people have decided that they don’t need it anymore and bailed.
No wonder why they are in danger.
To be honest, the main reason I still have it is for the kids incase something is needed with them so it hasn’t been a real consideration to turf it.
My massage rebates run out early, and I only use the glasses every few years, yet they charge an arm and a leg.
True, we have got some great benefit when the girls have been born, it’s been worth it for those 2 years, but you don’t want to be popping out kids every year to get your moneys worth!
So the way I see things is there has to be some reform.
If you get asked if you’re a smoker when you go for life insurance, and sometimes have to pass a physical to get it through – or pay a higher premium, then surely we can have the same apply for this?
There should be incentives for those who exercise regularly and excesses for people who don’t.
It shouldn’t be too hard to figure out.
It just seems like we’re too scared to confront the elephant in the room and just dance around the obvious.
What do you think?
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