Australians who do not have hospital cover from 1 July after their 31st birthday and only take it out later in life will have to pay an annual 2% cumulative yearly loading on top of their premium for up to 10 years. Yet new findings reveal almost half (47%) of Aussies don’t understand what Lifetime Health Cover is.
With 34 private health insurers having increased premiums since 1 April, some by as high as 7 or 8 per cent, new research reveals the burden of health insurance on Aussie household bills.
In February and March this year, comparethemarket.com.au was the most visited Australian site in the health insurance category, thanks to the success of the furry meerkat toys Aleksandr Orlov and Sergei. Now, the famous meerkats are back again as a reward to Aussie households.
As private health insurance premiums increased on April 1 for another year, new research points to how poorly informed Australians have been regarding premium increases year on year, as well as the reasons for the increases.
With the Federal Government announcing a 4.84% increase in private health insurance premiums, new research reveals households are expected to take action with regards to their health cover.
With the Federal Government expected to give the green light to private health insurance premium increases for the 16th year in a row, Aussie families have named the point at which they would consider walking away from their family policies.