CHOICE response to NIB shares soar 10 per cent on profit upgrade
Quotes attributable to CHOICE Senior Campaigner Dean Price:
"nib's announcement today is further proof that the health insurance industry is pocketing windfall gains from when elective surgeries were shut down as part of the response to COVID-19. The private health insurance industry was quick to announce that they wouldn't keep any profits, but so far HBF is the only fund who has taken action to return money to members.
"nib forced its customers to continue paying full price for their health insurance even though people couldn't access a full range of services. Rather than return money back to customers, nib has decided to profit from COVID lockdowns. Customers deserve better from nib and the wider health insurance sector.
This action shows that the private health industry has a long way to go. CHOICE continues to call on the Federal Government to initiate a full review into the private health system to ensure that it's working in the interests of consumers."
Jim Hook, 0430 172 669, firstname.lastname@example.org