3 Million Seniors Face up to $600 Price Hike on Private Health Insurance Under Labor Plan
Private Health Australia estimates 62,000 people could drop their private health cover, and around 200,000 would downgrade.
TL;DR
- Removing higher private insurance rebates could cost 3 million seniors an extra $600 annually.
- The federal government plans to use these funds for a $3 billion aged care initiative.
- This change could lead to tens of thousands of seniors abandoning or downgrading their private health cover.
- PHA warns this could destabilize the health system by increasing the burden on state public systems.
- Older Australians collectively might pay over $900 million extra.