Health Funds: Strike action reinforces value of insurance

Health insurers paid $1.322 billion in claims in the year to March, which HFANZ said reflected the value of the private sector at a time when surgeries in public hospitals had been cut and waiting lists grew due to ongoing industrial action.

Claims paid were up $115 million, or 9.5%, in the year to March 31, 2019.

Claims paid for the first three months of this year totalled $303m up 7.9% on the March 2018 quarter.  Annual claims paid have effectively doubled over the past decade, as people have accessed both a greater volume and a wider range of services and treatments through health insurance.

HFANZ chief executive Roger Styles predicted public elective surgery forecasts for the full 2018-19 year would miss their targets.