Industrywide Health Insurance Premiums Increase an Average of 3.25% - in Line With Expectations
The Minister for Health has approved an industrywide average increase in private health insurance premiums of 3.25%, effective April 1, 2019. We were expecting an increase around low 3.0% levels and welcome the lowest annual increase in decades. The slowdown in the rate of annual increase is due to lower claims inflation and lower hospital utilisation rates. Previous industrywide average premium increases were 3.95% for 2018, 4.84% for 2017, 5.59% for 2016, and 6.18% for 2015. Our AUD 2.95 per s...NIB Holdings operates in five segments: Australian Residents Health Insurance, which consists of Co.'s main product offering within the Australian private health insurance industry; New Zealand Residents Health Insurance, which consists of Co.'s main product offering within the New Zealand private health insurance Industry; International (Inbound) Health Insurance, which consists of Co.'s offering of health insurance products for international students and workers; World Nomads Group, which consists of Co.'s distribution of travel insurance products; and NIB Options, which consists of Co.'s facilitation of access to cosmetic and dental treatment both overseas and in Australia.
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