Choice Magazine has results for 101 hospital
policies with 750 premium options. They analysed hospital policies on their
policy conditions, restrictions and benefits. Compared to similar hospital
policies, their Best Buys for family cover can save you on average as much as
$710 on a full-cover hospital policy without an excess.
The health fund has warned its shareholders
against low, unsolicited offers for their shares after a company acquired a copy
of its share register. NIB, which was the first health insurance fund to list on
the Australian stock exchange, said Share Buying Group Pty Ltd was writing to
its shareholders offering a below market price for their shares.
The Australian Federal election is now out
of the way and we have a Labor government. Yet did you know that while it was
libery party policy to privatise Medibank, former Australian Liberal Prime
Minister Malcolm Fraser was against the sale or privatisation of Medibank
Private. The Right Honourable Malcolm Fraser - who was one so right wing he
headed up a razor gang to slash government spending, wrote the following: "When
Medibank Private was introduced, we believed that, if the Government was
actively involved in the business, we would have a better handle on costs and
outcomes than if it were all done by private enterprise. I believe it would be a
great pity if Medibank Private were sold and that it would lead to escalating
fees."
NIB and MBF are likely to be the only
private health funds to list on the Australian Stock Exchange after Labor's
comprehensive victory ruled out any prospect of Medibank Private being sold
off/
Another product comparison internet site has
come under fire for not offering consumers a clear choice. The Australian
Competition and Consumer Commission says it has accepted court-enforceable
undertakings from iSelect Health after taking action against the online health
insurance search engine business."
"The council of private health insurer MBF
Australia has approved amendments to the company's constitution that will enable
contributors to vote on demutualisation. MBF, which is Australia's second
biggest private health fund, has proposed to demutualise and list on the
Australian stock exchange."
The ACCC was concerned that iSelect made
various representations which were likely to mislead consumers as to the range
of insurance policies which it compared when recommending a policy. In
particular, the ACCC was concerned that iSelect made representations that:
misrepresented that it compared a significant proportion of health insurance
policies available to consumers misrepresented the number of health insurance
policies which it compared for consumers, and misrepresented that it compared
for consumers all the health insurance covers available to them and could find
the best suited policy for a consumer's needs at the lowest price. The ACCC was
therefore of the view that iSelect had engaged in misleading conduct in
contravention of the Trade Practices Act.
The federal government has unveiled a series
of advertisements promoting changes to private health insurance in the hope of
encouraging more Australians to take it up. Health Minister Tony Abbott today
launched a series of television, radio, print and internet advertisements about
a number of recent improvements to the private health system.
THE Federal Government has unveiled a series
of advertisements promoting changes to private health insurance in the hope of
encouraging more Australians to take it up.
LABOR will dump its opposition to higher
health insurance rebates paid to the over-65s as the party prepares to drop its
traditional antagonism to private health care.