How many of us realise that every year for the past 10 years, the health insurance industry has jacked up its prices by 6 per cent, when inflation has been just 2.5 per cent?
How many of us understand that each year they have to get government approval for the 6 per cent increase and every year the government has given it to them?
How many of us understand that every year, small but significant benefits, historically covered by health insurance, are taken away? With that information submerged in lots of words in a brochure or a letter, if at all.
Just half the population is now covered by private health insurance. The healthy and well-off hang in and are forced to just accept accelerating costs for a lesser product each year.
Well, these are the facts and we consumers are paying for this comfortable insurance club and their shareholders.
Read more here.
Read more here.
