The increase marks a sharp turnaround in an industry that observers have long warned was in a membership ‘death spiral’.
A blowout in public hospital wait times has pushed almost 760,000 Australians to sign up for private health insurance, marking a sharp turnaround in an industry that observers have long warned was in a membership “death spiral”.since September 2020, according to data from the Australian Prudential Regulation Authority , and private health insurers are enjoying nine consecutive quarters of membership growth.
Private Health Australia chief executive Rachel David said the figures showed that predictions about the private health insurance industry facing a “death spiral” of a declining membership pool dominated by high claimers had not come to pass.Dr David said the key driver of the recent trend was public hospital waiting lists for surgery.
“People might also be trying to avoid very long wait times for elective surgery in the public system, which has been caused by backlogs of deferred care and ongoing capacity constraints,” he said.“Others may be taking out insurance because they’re worried about health needs from long-COVID, or from mental health concerns, both of which have been rising rapidly.”
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Children hurt after fireworks land in crowd at Christmas carolsA colourful Christmas carols event turned to chaos in Sydney's north overnight after fireworks misfired and launched into the crowd, injuring three children. 9News
Read more »
Police investigate 'suspicious' death of man in Sydney CBD stairwellEXCLUSIVE: A body discovered in a stairwell in Sydney's CBD has led police to an underground gaming hub, where players spend hours engrossed in virtual worlds. Officers are now investigating the 'suspicious' death. WesternWilson9 9News MORE:
Read more »
Police investigate 'suspicious' death of man in Sydney CBD stairwellThe 25-year-old Chinese national entered the FBI Cyber Cafe in the CBD around 9pm on December 4 and his body was found by a cleaner three days later on December 7 about 3pm. 9News
Read more »
Scores of executions feared in Iran as 23-year-old hanged in public killingHuman rights group warns death of Majidreza Rahnavard ‘a significant escalation of violence against protesters’
Read more »
Mystery surrounds death of 25-year-old man found in stairwell of Sydney hotelA suspicious death investigation has been launched after a man’s body was found inside the stairwell of a Sydney hotel. 7NEWS
Read more »