Confidence in Australia’s private health system continues to surge with just released Australian Government data showing more Australians than ever before are members of a private health insurance fund.
The March Quarterly statistics released by the Australian Prudential Regulation Authority (APRA) shows the number of Australians with hospital treatment cover increased by 56,231 people in the quarter, while people with extras cover – such as dental, optical and physio – grew by 83,546.
According to APRA in the last 12 months to March 2021, there has been a remarkable growth of 224,858 persons with hospital treatment cover and a massive 299,651 persons with extras cover.
“Private health insurance membership has been growing for eight straight quarters, with over half of the Australian population now covered,” said Matthew Koce, CEO of Members Health, the peak body for 26 of the country’s not-for-profit and member owned health funds.
“Nothing is more important than our health, and Australians clearly value the peace of mind, quicker access, and high quality care they have private health insurance.”
With patients facing extended wait times in overstretched public hospitals, more people are turning to private health for timely access to support their health and wellbeing.
Mr Koce said the March APRA membership results showed strong confidence in role that private health insurance plays in nation’s mixed private-public health system.
“Australia’s health system is the envy of the world: more people with private health insurance provides a benefit to both individual consumers and the overall health system by taking pressure off our public hospitals.”
“As more consumers show a commitment to private health insurance, you can be sure that Members Health funds will be guided by their not-for-profit, member-first values to help people get well and stay healthy.” Mr Koce said.
Members Health is the peak industry body for an alliance of 26 health funds that are not-for-profit or part of a member-owned group, regional or community based. They all share the common ethic of putting their members’ health before profit. Our funds represent the interests of more than 5 million Australians.
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