sector: New data released by the Australian Prudential and Regulation Authority has backed up reports from the health insurance sector of an ongoing drop off in policy cover, according to Nine News Australia. As at June 30, 44 per cent of Australians had hospital cover but this was a decline of 0.3 percentage points from the previous year. To improve your experience update it here News National More people drop hospital cover amid rising premiums By AAP11 26am Aug 21, Australians are dumping their hospital private health insurance policies, including families and young people, as consumers continue to take stock of their spending. During the June quarter alone 28,539 people shed their hospital cover, led by 7,804 of those aged between 20 and 24 years and 6,338 families. AAP Earlier this week, health insurers NIB warned cost-conscious consumers are weighing up their cover against the backdrop of low economic and wages growth and premium costs rising faster than inflation. People are ditching private health cover as wages stagnate and living costs rise.
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