Australian households are spending roughly 20% more on private health insurance than they were in the 1990s.
The cost of health insurance remains the number 1 concern for FiftyUp Club members who are concerned not enough is being done to curb runaway fees.
Today, Health Minister Sussan Ley announced an $86 million cut to the Prosthesis List, which sets how much the funds pay for knee replacements, pacemakers, and the like. $500 million in costs are expected to be wound back over the next 6 years as a package of reforms are unveiled by the government.
But will it be enough? The Minister spoke with Kayley and Luke on the FiftyUp Club Show and said she expects the reforms will mean premiums will not continue to rise at the “steep rates” they have been.
