Australians will spend more on health insurance next year, a warning has been issued.
Health insurance companies are predicting that premiums will increase by hundreds of dollars next year.
If the insurance premiums go up like this, it will happen from next 01st of April and it is to be decided whether the relevant premiums will be increased during the period from December this year to March next year.
The insurance companies have also requested the federal government to raise the premium hike from the current 3.03 % to 6 %.
The respective companies said that the premium value should be increased in view of the increase in medical fees, salary increases in the health sector and increase in the cost of insurers.
It is reported that the Department of Health and the Australian Prudential Regulation Authority have to submit this proposal to the Minister of Health for final approval to increase the premium value and various factors must be considered before such submission.
