How to Make Private Health Insurance Healthier

This Green Paper was commissioned and overseen by the Actuaries Institute and reflects our public policy principles which can be viewed here.

The Paper was prepared by Bevan Damm and Matthew Crane from Ernst & Young, guided by a Steering Group of senior Actuaries Institute members. It was developed following an engagement program with a wide range of stakeholders.

Issues discussed in the paper include:

  • The complexities surrounding the current structure of Private Health Insurance and the Public healthcare system including regulations, community rated products, Medicare rebates and risk equalization.
  • Limitations and lack of ability for a patient to choose the correct treatment and how to receive said treatment.
  • Confusion surrounding the policyholders benefits and claim entitlements.
  • The affordability of private health insurance as wage growth slows while the average premium continues to rise, year on year.
  • Convincing ‘healthier’ people to buy private health insurance products to further reduce premium costs.
  • The changing pathways of treatments that enable better access for less complex surgeries and treatments that the private health insurance sector hasn’t adjusted their coverage for.

This Green Paper was commissioned by the Actuaries Institute and prepared by Bevan Damm and Matthew Crane of EY.