Australian government initiatiVES CAUSING CONFUSION
Rob Bransby Managing Director of iFHP member HBF has said that Government initiatives are driving the complexity and confusion in Australia’s health insurance products. HBF has released statistics showing that one in two Australians do not know if their private health insurance is with a for-profit or not-for-profit fund. Mr Bransby said in a recent report in The Australian that there was a need to look at the complexity of products.
“Affordability in this sector is becoming critical, the sustainability of the sector is under threat and we are seeing massive increases in attrition, product slide and in people taking out exclusionary product lines,” he said. “To keep people in funds, we are all becoming creative about how we mix the product line up, and it’s becoming confusing. We do need to make it simpler but we are just trying to be creative to keep people in the sector, particularly when the economy is not tracking that well.”