PRIVATE Healthcare Australia (PHA) is urging the government to restrict early access to superannuation, allowing it only for terminal and life-threatening conditions.
The call comes as tens of thousands of Australians are using their superannuation for medical and dental treatments, driving up healthcare costs for everyone.
PHA CEO Dr Rachel David highlighted that over the past five years, more than 142,000 Australians accessed their super early for healthcare, totalling $730.5 million in 2022-23 alone.
"This trend is inflating prices, with surgeons and dentists charging more when they know patients have access to large sums," said Dr David.
She also warned that raiding superannuation now could leave people financially vulnerable in retirement.
PHA is advocating for a policy change to protect Australians' future savings and curb rising healthcare costs.
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