Private health insurance is complex, the AMA Report Card tries to demystifies these complexities by explaining how out-of-pocket costs occur, how choosing an insurance policy based on the cost of premiums can result in higher expenses later, and how benefits and gaps vary across insurers, but also on a State-by-State basis, even with the same insurer. Through this information we hope that consumers can make better informed choices about the type of policies that work for them
In our Report Card last year, we explained what the Commonwealth Government’s Gold, Silver, Bronze, and Basic reforms mean. These reforms have been in full force since April 2020, but they have not reversed the trend or changed the underlying numbers threatening the stability of our insurance system.
With five years of continuous decline in the proportion of Australians with hospital policies, our insurance system is under real stress.
The AMA is calling for further changes to reverse the slump in health fund membership. We have called for comprehensive reforms to premium rebates, lifetime health cover loadings, the Medicare surcharge levy, youth discounts, long-term incentives for people to maintain their cover, and a minimum level of benefits for patients.
Achieving value for money must be the Government’s top priority when it comes to private health insurance.