Why customers hate leaving Medibank

Soon to list Medibank Private is the undisputed king of Australian private health insurers (PHI). Medibank’s 3.8m members give it a market share of 30% – more than HCF, NIB, and HBF combined. You’d think such dominance would give Medibank a big advantage over the other players, but that’s not always the case: it’s almost impossible for PHIs to compete on price as regulation forbids the discounting of premiums by more than 12%. Furthermore, any premium hikes require approval from the Minister of Health, whose priority is, at least in principle, to protect the public from unfair pricing. PHIs instead...

Soon to list Medibank Private is the undisputed king of Australian private health insurers (PHI). Medibank’s 3.8m members give it a market share of 30% – more than HCF, NIB, and HBF combined.

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