Aussies happy with health insurance claims
But overall satisfaction with health insurers is down.
Australian consumers might not be happy about how much they're paying for health cover but consumer satisfaction with private health insurance claims is high, according to the latest research from Roy Morgan.
The study of 50,000 consumers in December 2017, of which over 23,000 had private health insurance, found that when it came to making a claim 88.8% said that they were satisfied with their experience with their health fund.
The same cannot be said for overall satisfaction, which has dropped from 73.6% in 2016 to 71% in 2017. Roy Morgan industry communications director Norman Morris attributes the precipitous drop to the ever-rising costs of private health insurance.
"With a great deal of negative publicity currently around the impending increase in private health insurance premiums, it is not surprising that overall satisfaction with funds has shown a decline over the last year and as a result, they are likely to lose members," Morris said in a statement.
Morris said that the health funds had little control over the increase, echoing what Australian Prudential Regulation Authority (APRA) executive board member Geoff Summerhayes said last week. He believed that it's healthcare costs that are to blame for ever-increasing premiums.
"The underlying cost of Australia’s health system is the ailment; rising insurance premiums are just a symptom," Summerhayes said in his address.
The Roy Morgan research found that of those planning to switch health funds, only a handful (5%) flagged "problems with claims" as their reason. Not surprisingly the main reason (70%) people are leaving their current fund is increased premiums and high costs.
Compare your health insurance options today
- COVID vaccination rewards from Medibank, Finder, Qantas, Telstra and more
- Debt on arrival: Cost of childbirth exceeds $5,000 for 1 in 7 parents
- NSW waives COVID ambulance fees: What about the rest of Australia?
- Which insurers are doing health cards in Apple Wallet?
- You can stay on your parents’ health policy until you’re 31 – if your fund plays ball