14th  Annual  Health  Insurance  SummitCompetition  in  the  Health  Insurance  Industry28  JULY  2015CINDY  SHAY,  CHIEF  BENEFITS  OFFICER

Competition

214TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

Competition

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Competition

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PHIAC  – Research  Paper  1

514TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

“With  the  costs  of  health  care  consistently  growing  at  a  faster  rate  than  general  inflation,  a  competitive  and  sustainable  market  for  private  health  insurance  is  a  vital  factor  in  ensuring  that  premiums  paid  by  consumers  are  contained  and  that  the  incentives  promoting  industry  innovation  are  maximised”

“Healthy  signs  of  competition  include  the  diversity  of  choice  of  insurer  and  products  on  offer,  strong  incentives  to  minimise  costs,  and  transferability  of  policies  across  insurers”

Affordability  

The  industry  v  the  industry

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Benefits  paid  as  a  percentage  of  premiums1

Percentage  of  member  complaints2 Member  retention3

Members  Own  funds

Medibank,  AHM,  Bupaand  NIB  (average)

Members  Own  funds(20.4%  market  share)

Medibank,  AHM,  Bupaand  NIB(64.0%  combined  market  share)

Members  Own  funds  

Medibank,  AHM,  Bupaand  NIB (average)

86.2% 84.5% 13.8% 68.7% 88.7% 85.8%

ACCC

714TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

Healthy  Members

814TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

Waiver  offer2  &6

Get  6  weeks  free  on  combined  covers  if  you  join  before  July  31^

Mike  Baird

914TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

Royal  Adelaide  Hospital

1014TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

Further  trends

1114TH ANNUAL  HEALTH  INSURANCE  SUMMIT28   JULY,  2015

'At-­‐fault'  medicine  to  trigger  an  endless  blame  game  Herald  Sun,  Melbourne    by    Karina  Barrymore

Don't  think  it  is  Medibank  alone.  The  silence  has  been  deafening  from  other  major  insurers,  as  they  sit  back  and  watch  this  first  move.

Complimentary  or  split?

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