Health insurance fees to rise by 5%
29th February 2012
People will be paying more for their private health insurance from April after federal Health Minister Tanya Plibersek approved an average hike in premiums of 5.065.
That translates to $70 a year for individuals with average hospital cover and $140 a year for families, based on 2011 health department figures for average fund costs.
Ms Plibersek said on Tuesday the 5.06% rise was lower than would have been the case if she hadn't asked 24 of the 34 funds to resubmit their applications for a rise.
"This resulted in seven insurers reducing their premiums, helping bring