Latest figures from PHA highlight that private health insurance pays out the most out of all forms of insurances.
There’s evidence that private health insurance funds have continually paid it’s members, on average, 86 cents in the dollar compared to 64 cents for general insurance.
This means profit margins for private health funds (heres comes some stats peeps) sits about 5.16% in the 12 months to December 2017. That means that over the last decade, profits for these funds has hovered between 4.5% – 6%.
What does that all mean? Well when you put it into context, private health insurance returns are far less than most medical specialist or even what private hospital’s profit.
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