The 2008 federal budget for Australia has been announced and the federal government expects 485,000 people to dump private health insurance after it doubles the Medicare surcharge threshold.
At least 600,000 people would abandon private health cover, based on figures from the budget and the Private Health Insurance Administration Council.
“If it is the young and healthy who drop out as the government hopes, who pay lower premiums, this number may be up to one million,” she said.
“This will start a health fund drop-out snowball.”
Should I get rid of my private health insurance as well? Even though I bought my private health insurance last November from Medibank and is currently paying 100++ for the premiums per month, it currently serves not much benefit to me and I’d only made a single claim so far. What do you say?