CHOICE is glad to see the Government taking action to address the practice of health insurance phoenixing. This loophole must be closed. For too long, health insurers have been openly undermining the intention of the Minister’s approval process for annual premium increases, thumbing their noses at both the Federal Government and the customers they are supposed to serve.
CHOICE research indicates that 81% of Australian consumers are concerned about the cost of health insurance, and that they see health insurance as more complicated to shop for than any other product.
Everything that can be done to help Australians get the most appropriate health insurance cover at the best possible price, should be done. The Government’s proposal, to eliminate a bad faith cash grab on the people who need health insurance the most, is a crucial step, but not the only one that is available.
