Sunday, June 08, 2008

Health Insurance Premiums will rise

Thanks to flawed policy - new Medicare levy thresholds - nearly one million Australians will opt out of Private health Insurance.

"THE predicted flight from private health cover will be double that tipped by the Rudd Government. In a major embarrassment for the government, Treasury officials admitted they failed to count children when calculating the impact of new Medicare changes. The blunder means at least 700,000 people -- not 484,000, as stated by the Government -- are expected to leave the private system. In a further blow, Australia's biggest insurer, Medibank Private, expects to lose 7-10 per cent of its members under new Medicare Surcharge thresholds." Read it here ...

See also, Government underestimated effects of Medicare changes: Hockey

Premiums will no doubt skyrocket as the estimated exodus will leave private health funds short by around $500 million in the medium term ... And who was behind the flawed policy? A certain Stephen Duckett; somebody correct me if I am wrong but was he not behind Medicare Gold policy?

No comments: