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Client Alert: Major reforms to private health insurance industry


On 13 October, the Australian Government announced the most significant and wide-ranging reforms to the private health insurance industry in over 15 years. These reforms will affect private health insurance members across the board, as well as employers who subsidise their employees’ health insurance premium.

Key changes include:
•    Discounted premiums for members who join before they turn 30
•    A reduction in the cost of prosthesis for  private health insurers
•    The introduction of Gold, Silver and Bronze product categories
•    The removal of the government rebate on some “natural therapies”
•    The removal of waiting periods for benefits on pre-existing mental health conditions when upgrading membership
•    An increase in the maximum excess/ deductible allowable for hospital cover

The sweeping reforms follow commitments from the federal government to address the rising cost of private health insurance premiums, which has greatly outpaced CPI over recent years. 

Download the Client Alert to read more.

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.