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Health cover rises flatten but still pose cost hurdle for many
The lowest average rise in health insurance premiums in nearly 20 years is welcome although many Australians in the current economic climate will struggle to meet the increased cost, the Consumers Health Forum said today.
“The 2.74 per cent average increase in premiums to take effect next April is particularly welcome when family and personal budgets are under even more strain and the need for care in areas including mental health continues to grow,” the CEO of the Consumers Health Forum, Leanne Wells, said.
“While the new rise is low compared to previous years, it is still well above the inflation rate of 0.7 per cent for the year to September. There are unlikely to be many people able to absorb a premium increase without further squeezing their budgets.