NIB's Christmas surprise

NIB received a whopper of a Christmas present this year – approval by the Minister of Health for a 7.99% increase in premiums, far above the 6.2% average increase for the private health insurance industry as a whole. This was the largest rise since NIB’s listing in 2007 and highlights the government’s awareness that it must first satisfy the insurers if it is to prevent its own Medicare expenses spiralling out of control. This gift, however, comes with a warning label – such a rise underscores our concern that private cover is increasingly unaffordable for ordinary Australians and it's...

NIB received a whopper of a Christmas present this year – approval by the Minister of Health for a 7.99% increase in premiums, far above the 6.2% average increase for the private health insurance industry as a whole. This was the largest rise since NIB’s listing in 2007 and highlights the government’s awareness that it must first satisfy the insurers if it is to prevent its own Medicare expenses spiralling out of control.

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