Alexia Adhikari

1 month ago | australiainstitute.org.au | Greg Jericho |David Richardson |Alexia Adhikari |Morgan Harrington

Despite huge profit margins, the big three private health insurers keep higher and higher premiums. While Australians struggled with the cost-of-living crisis, the three largest private health insurers of Medibank Private, BUPA and NIB made pre-tax profits of $1.7 billion in 2023-24, according to APRA data. Even with this these huge profits they continued to ask for more. The private health insurance lobby had been pushing for increases in insurance premiums beyond inflation.