Your health insurance could be more affordable

As a valued CBHS member, we wanted to let you know about an important campaign we have joined to make your health insurance more affordable. The More Affordable Health campaign, run by Private Healthcare Australia, is seeking to make health insurance more affordable by changing the way medical devices are priced in Australia. The high cost of medical devices used in surgeries is one of the biggest drivers of private health insurance premium increases. This is because privately insured Australians pay at least 30 percent more for the same medical devices compared to other countries.

• In Australia, a hip replacement stem costs more than more than $4,000 but in New Zealand and the United Kingdom, the equivalent item costs just $1,800.
• Cardiac stents are five times the price in Australia compared to other countries.
• Nasopore sponges in Australia cost $1,136 for a box of eight sponges, but in the UK it costs just $451 for the same size box. These sponges can be purchased online by the public in the United States for $US99.
• A knee replacement device costs more than $6,900 in Australia, while in the UK it costs $5,199.
  

Even if you don’t need surgery, Australians with health insurance are still paying for these costs through their premiums.

What are the solutions?

If changes are made to the way these medical devices are priced, then private health insurance could be more affordable. Reform of the Prescribed List of Medical Devices and Human Tissue Products would deliver a fairer healthcare system and make health insurance more affordable for the 14 million Australians who choose to have this cover for security and peace of mind.

The changes would have no effect on the quality or choice of the devices your doctor or surgeon can recommend. Sign up and show your support for More Affordable Health below.

CBHS is committed to passing on savings from medical device pricing reform to members. If changes are made to the way medical devices are priced, health insurance premiums will be lower than they otherwise would be.

You might see the More Affordable Health campaign on TV, in the newspaper and on social media over the coming months. Private Healthcare Australia will also be providing more opportunities for supporters to get involved in the campaign, and by signing up, you’ll get to hear about these directly.

More information

• Read more on our ‘Member Insider: Why do healthcare costs keep rising?’ blog post to learn more about the background of rising healthcare costs in Australia.
• Read more about the benefits of keeping Hospital cover in this environment. How can your Hospital cover help you when you are healthy as well as when you are sick?