Australian Private Hospitals Association (APHA)
Medibank’s premium return welcome – but billions still outstanding
Australian private hospitals have welcomed Medibank’s move to return $105 million in premiums to two million members, but billions of dollars in ‘deferred claims liability’ remain hidden in private health insurer’s coffers.
Australian Private Hospitals Association (APHA) CEO Michael Roff said it was good to see Medibank make good on its promise to return unspent funds, now the rest of the industry needed to step up and do the same.
“At the end of March 2021 there was $1.8 billion of unspent members’ funds sitting in health insurers’ accounts – unchanged from December 2020. While some insurers have made moves to return members unspent funds, too few have done so,” Mr Roff said.
Australian private hospitals stepped up to support the public sector manage COVID-19 and private psychiatric hospitals are ready to meet the increased.
âGive it backâ: Health fundâs massive $225m profit Health funds are being told to return profits they made from COVID surgery bans to their members, as nib is set to make millions.
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Subscriber only Health fund nib is expecting a massive $225 million profit as a result of savings from last year s COVID-19 surgery ban and it won t say whether it will return it to members. Just weeks after announcing the second premium rise in six months the company reported it expected underlying profits to soar almost 50 per cent from $86.9 million for the first half of the financial year and be within the range of $200 million to $225 million.
âGive it backâ: Health fundâs massive $225m profit Health funds are being told to return profits they made from COVID surgery bans to their members, as nib is set to make millions.
Business by Sue Dunlevy
Premium Content
Subscriber only Health fund nib is expecting a massive $225 million profit as a result of savings from last year s COVID-19 surgery ban and it won t say whether it will return it to members. Just weeks after announcing the second premium rise in six months the company reported it expected underlying profits to soar almost 50 per cent from $86.9 million for the first half of the financial year and be within the range of $200 million to $225 million.
NIB profiteering from COVID-19 miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.