Category Archives: Private health insurance

What it means for patients if St Vincent’s and NIB fail to reach a funding deal

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The hospital network says it will walk away from its contract with the private health insurer in three months if a fairer agreement can’t be reached. Has this situation happened before?

The clock is ticking for thousands of patients after Australia’s largest not-for-profit healthcare provider, St Vincent’s, announced it would end its current agreement with health insurer NIB if a fair funding deal could not be reached before 3 October.

The chief executive of NIB, Mark Fitzgibbon, says he hopes negotiations resume, but St Vincent’s maintains the insurer needs to come to the table during the notice period and put forward a proposal that reflects the rising costs of healthcare.

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Thousands of patients facing healthcare price hikes after negotiations break down between St Vincent’s and NIB

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Australian Medical Association is urging both parties to reach an agreement for the sake of patients

Thousands of patients could face higher out-of-pocket healthcare costs after negotiations broke down between St Vincent’s private hospital network and the private health fund, NIB, for a new funding agreement.

On Thursday, St Vincent’s Health Australia gave notice to NIB that it will walk away from its contract within the next 65 business days unless a fairer funding agreement is reached.

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Medibank says it won’t pay ransom for customer data stolen in cyber-attack

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‘Limited chance’ such a move would result in return of data or prevent it being published, health insurer chief says

Medibank is refusing to pay a ransom to the alleged hacker who stole data relating to 9.7 million customers because there is no way the organisation can “trust criminals” not to further exploit people, the health insurer’s CEO, David Koczkar, says.

Last month Medibank revealed a hacker using compromised high-level credentials had been able to access the personal information of up to four million customers, including ahm and international student customers.

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How to handle your private health insurance – in one afternoon a year

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If you turned 31 this year, you have until 1 July to avoid a fee loading on private health cover, but experts say there’s no need to panic-buy

Private health insurance in Australia is kind of an oxymoron. “Every Australian already has health insurance: Medicare,” says Uta Mihm of consumer advocacy group Choice.

So why does it exist here at all? Well, that’s the million dollar question. Firstly, it’s important to note that “health insurance” in Australia actually refers to two different types of cover: private hospital cover and extras cover. The former will pay for you to receive treatment in private hospitals, where you’ll stay in comfortable rooms and get shorter wait times for elective surgery. Extras cover is meant to reduce the cost of things like dental, optical and massage.

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Nearly half of Australians don’t think private health insurance is ‘essential’

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Growing number of people also find it difficult to understand what they are covered for

The number of people who believe private health insurance is essential has declined since five years ago, while more people agree that it is difficult to understand what is covered by their policies.

The findings are from in-depth, face-to-face interviews with more than 50,000 Australians in a year conducted by Roy Morgan researchers. The latest results are based on the 12 months to October 2018.

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