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Health Funds and Industry News

30/06/2015 - 10:50am

Towards the end of last year, Australia's largest health insurance provider, Medibank, underwent a stark transformation as the company was listed on the Australian Securities Exchange (ASX).

The stock traded initially for $2.15 to institutional buyers and $2 to the public - including policyholders, who were given the option of registering for more shares than non-Medibank customers.

01/06/2015 - 11:53am

You may have heard that the Australian population is growing, but do you know by how much?

According to the latest figures from the Australian Bureau of Statistics, there is a birth in the country every one minute and 44 seconds, while one death happens every three minutes and 27 seconds - meaning there are almost two births for every death.

On top of this, an international migrant takes residence in Australia every two minutes and 13 seconds. Overall, this has led to the total population increasing by one person every one minute and 21 seconds.

27/05/2015 - 12:54pm

Last month, the price of private health insurance rose, as it does every year, to keep up with the rate of inflation.

27/05/2015 - 12:54pm

It's been a complicated 12 months for Medibank Private. The largest health insurance provider in Australia underwent a transformation last year when it decided to launch on the Australian Securities Exchange (ASX).

The newly privatised company will undergo another directional change as it looks to revitalise its brand image from an "expensive" health fund, The Australian reports.

10/04/2015 - 5:06pm

Do you have any complaints or concerns surrounding your private health insurance?

Some Australians do, and will turn to their health funds for advice. However, many others are not receiving the level of service they would like from their insurance providers, a recent report suggests.

The Private Health Insurance Ombudsman (PHIO) - the body responsible for monitoring the industry and handling customer problems and enquiries - has released its annual report over the concerns of private health insurance customers.

27/03/2015 - 3:48pm

By now, you may have heard about the changes about to come into place that will affect the cost of health insurance in Australia. An annual rise in premium rates will give health funds the ability to maintain a high level of benefits in the light of increasing cost pressures.

03/03/2015 - 12:55pm

Last Friday, the Australian Government announced the extent of the private health insurance premium rise. It was expected to be around 6 per cent - an amount many thought was on the high side.

The actual increase was announced as averaging 6.18 per cent, though varied between 3.98 and 6.99 per cent as different health insurers increase their premium rates at varying levels.

Health Minister Sussan Ley announced on Friday (February 27) that she had approved the rise, which sees health insurance prices grow above the rate of inflation - 2.2 per cent.

25/02/2015 - 1:33pm

Australia's largest health insurer, Medibank, released the financial results for its most recent six months of trading - the first since it was floated on the Australian stock market.

Brokers bid big to secure shares in the historic sale, with the health fund successfully launched on the Australian Securities Exchange (ASX) on 25 November 2014 for $5.7 billion.

25/02/2015 - 1:32pm

Private health insurance provider nib has released a review of its performance in the past year.

With more than one million policyholders signed up to nib, and the finances of such companies tied somewhat to premium rates, it is an interesting insight for any nib customers.

All in all, the provider has had a mixed year. As the fifth largest health insurer in Australia, the group launched in New Zealand three years ago with the purchase of Tower Medical Insurance. 

23/02/2015 - 1:53pm

It's no wonder why some healthcare issues are expensive to treat, with an incredible level of skill going into many operations and treatments. Fortunately, public healthcare removes these financial issues, allowing free treatment for a range of medical concerns.

For those who want more choice when it comes to their healthcare needs, the private model gives people the ability to choose their doctor, as well as where and when they want their treatment to be administered.

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