Australian Treasurer Says Health Insurance Reform Is ‘Critical’

[I AM NOT THAT GUY 5,715]

Feb. 21 (Bloomberg) -- Health insurance legislation set for debate this week in the Australian Senate is “critical to ensuring the long-term sustainability” of the nation’s budget and health system, Treasurer Wayne Swan said.

The reform would maintain Australians’ membership in private health insurance, “end subsidies to the most well-off Australians” and generate savings of about A$9 billion ($8.1 billion) over the next decade, Swan said today in a statement.

http://www.bloomberg.com/apps/news?pid=206...id=aI.FmcmLe32Q

Edited February 21, 2010 by Lone Ranger

[Ali G. 37]

Using this is ridiculous. The rates for the average Joe do not go up year after year. Australia is also reforming the health care system to allow people to have more options.

Edited February 21, 2010 by Booyah

[I AM NOT THAT GUY 5,715]

Health Insurance Premiums Set To Rise

Warning customers not to expect good news, it is tipped the 2010 private health insurance premium rises that Health Minister Nicola Roxon will reveal next week will rise by an estimated 6% to 7% this year, or up to $195 for a family.

According to Roxon, the increases come after the Government had examined the insurers proposed fee rises, following last year’s 6.02% rise, with a a dozen health funds told to reassess their cases.

However, the industry says insurers are facing tough times hit by rising costs, as medical technology continues to improve, with an independent regulator reporting a 10% jump in fund payouts in the past financial year.

Michael Armitage, Chief Executive, Australian Health Insurance Association said, in comparison to rising costs, premium increases were always kept to a minimum, with a history of premium increases going up 3 to 4% less than the benefit outlays.

The estimated 6% to 7% premium rise will increase comprehensive family coverage cost without extras, from $2772 to $2966 a year, and by $96 a year for singles.

According to Roxonn, the last five years of the Howard government saw a 6.63% rise in premiums, due to rapidly improving medical technology and improving life expectancy, health costs were rising faster than the base rate of inflation.

General patient treatment benefits rose 8.7% last year, according to the Private Health Insurance Administration Council, with payments for prostheses rising 12.5% and a 9% increase for medical specialists.

The 30% private health insurance rebate Labour planned to means test remains stalled in the Senate, and if it does manage to get through, higher income earners will have to pay even higher costs.

http://visitbulgaria.info/12672-health-ins...emiums-set-rise

[Ali G. 37]

Private supplemental health insurance is optional there. Nonetheless, it works out to $219 a month USD for your entire family to receive better service, as in everything is covered, than you would receive here.

Edit: Almost forgot to add, zero co-pays for anything with their policies. I think there is a $3K cap for orthodontics per child though..

Edited February 21, 2010 by Booyah

[spookyturtle 9,466]

Only a jackass would live in the US and have all of those benefits available to them elsewhere.

[Ali G. 37]

Only a jackass would live in the US and have all of those benefits available to them elsewhere.

You're telling me..

[MrsCat 6]

Just got home from Canada, and Australians were working everywhere in the service industry. Asked a few why on earth they'd be living in Canada with horrible winters and they all said the same thing. They cannot afford to live in Australia, its just too darn expensive. Scarily, they were living in Banff and Canmore which has ridiculous rents and costs of living.

Are they moving towards the US affluence experience?

[spookyturtle 9,466]

Just got home from Canada, and Australians were working everywhere in the service industry. Asked a few why on earth they'd be living in Canada with horrible winters and they all said the same thing. They cannot afford to live in Australia, its just too darn expensive. Scarily, they were living in Banff and Canmore which has ridiculous rents and costs of living.

Are they moving towards the US affluence experience?

I thought everyone in Australia made enough to live in a mansion no matter what their job was. A supermarket cashier is paid enough to buy a $500,000 house.

[MrsCat 6]

I thought everyone in Australia made enough to live in a mansion no matter what their job was. A supermarket cashier is paid enough to buy a $500,000 house.

- I almost asked if that was true.

[spookyturtle 9,466]

- I almost asked if that was true.

You mean we've been lied to?

[MrsCat 6]

You mean we've been lied to?

Or the lazy ones who can't attain the Australian dream move to Canada. For-shame.

[spookyturtle 9,466]

Or the lazy ones who can't attain the Australian dream move to Canada. For-shame.

But why would they move to Canada to work when they get two months paid vacation in Australia?

[MrsCat 6]

But why would they move to Canada to work when they get two months paid vacation in Australia?

What?! 2 months paid vacation?! Why the ** am I living here?!

[spookyturtle 9,466]

What?! 2 months paid vacation?! Why the ** am I living here?!

You could be living in a mansion, getting free health care and have the best of everything and make 5 times what you make now and not have to work half as much as you do now.

[MrsCat 6]

That's it. Booya wanna marry a Canadian and move the Aus?