'Industry under pressure': Private health premium rise hits 20-year low
'Industry under pressure': Private health premium rise hits 20-year low
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Australian private health insurers and hospitals will need to cut more costs to protect profit margins after the federal government on Monday approved the lowest increases to insurance premiums in 20 years.
Private health insurance premiums will rise by an average of 2.74 per cent on April 1 next year, Health Minister Greg Hunt said, which follows increases of 2.92 per cent this year and 3.25 per cent in 2019.
Costs are growing faster than premiums, putting health insurers and providers' margins under pressure.