ARE PRIVATE HEALTH INSURERS PROFITEERING?

Australian Your Money - Shadow health minister Catherine King has lashed out at private health insurers for raking in the profits even as more Australians are forced to ditch their cover. More than 5,000 people dropped private health cover in the last quarter, according to data by the Australian Prudential Regulation Authority, meaning less than half of the population is now covered. King accused company executives of profiteering and spending more on “management expenses,” such as costly overseas trips, exacerbating consumer premiums. The federal Opposition has blamed rising premiums for the fall in health cover – part of the argument in its campaign to bring in a two per cent cap over the next two years on premium increases. Labor claims the move would save Australians...>>>