A report from consumer group Choice has found health insurers have been significantly increasing prices for premium hospital cover well above a rate approved by the federal government.
"Health insurers are jacking up the price of gold hospital cover by a lot more than the headline industry averages," said Jodi Bird, the group's insurance specialist. Analysis by Choice found a family with top-level hospital cover who paid on average $5,380 a year in February 2021 were now forking out $7,090 for the same policy.
"They're closing old policies and they're opening new policies, but the new policies have ... essentially the same level of cover as the old policy, but they're increasing the of that new cover by significantly more," he said. Given the full scope of services covered by private health insurance, making top level hospital cover more expensive affects those who need the access the most, Mr Bird said.
"The reason that top hospital cover increases in price more is because it covers more expensive health interventions.
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