3 Million Seniors Face up to $600 Price Hike on Private Health Insurance Under Labor Plan
Private Health Australia estimates 62,000 people could drop their private health cover, and around 200,000 would downgrade.
Private Healthcare Australia warns that removing higher private insurance rebates could cost 3 million seniors an extra $600 per year. This proposed change by the federal government aims to fund a $3 billion aged care initiative. PHA suggests this could lead tens of thousands to abandon or downgrade their coverage, potentially shifting the burden to public systems.
- Removing higher private insurance rebates could cost 3 million seniors an extra $600 annually.
- The federal government plans to use these funds for a $3 billion aged care initiative.
- This change could lead to tens of thousands of seniors abandoning or downgrading their private health cover.
- PHA warns this could destabilize the health system by increasing the burden on state public systems.
- Older Australians collectively might pay over $900 million extra.
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