HBF drops premiums
February 12, 2016
Federal Minister for Health
Sussan Ley has welcomed the
announcement by private
health insurer HBF they will be
resubmitting a lower premium
for their members, as a response
to the governments request to
reconsider premium increases.
“While there is still a formal
process to follow, today’s
announcement by HBF is an
encouraging sign for consumers
and builds on the positive noises
being generated by a number of
insurers,” she said.
Given the industry holds about
$5.1b of excess capital, it’s an
important moment for insurers
to demonstrate to their members
their commitment to future reform
by offering cheaper premiums, said
Ley, in a bid to place downward
pressure on other suppliers.
“Ultimately insurers who try to
maintain high premium increases
in the face of the Government’s
request and consumer
dissatisfaction over their current
policies risk missing the boat and
leaking customers elsewhere.”
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