Government Scrutinizes Health Insurers' Pricing Practices
Government Scrutinizes Health Insurers' Pricing Practices
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Health Minister Mark Butler has issued a stern warning to private health insurers regarding the use of 'underhanded' tactics to raise premiums.
This comes in response to findings that some insurers have been closing old policies and introducing more expensive ones, effectively increasing costs for consumers.
The Minister emphasized that such practices are against the spirit of the law and will not be tolerated. He indicated that if insurers continue these behaviors, the government may introduce legislation to outlaw them.
For beauticians and salon owners, this development underscores the importance of vigilance when selecting and maintaining insurance policies. Understanding the terms and being aware of any changes can help ensure that coverage remains adequate and cost-effective.
Published:Thursday, 25th Dec 2025 Source: Paige Estritori
Recent data from the Council of Australian Life Insurers (CALI) reveals a significant shift in the landscape of income protection insurance in Australia. Mental health conditions have emerged as the leading cause of total and permanent disability (TPD) claims, accounting for nearly one-third of all claims paid. In 2024 alone, insurers disbursed over $2.2 billion for retail mental health claims, a figure that has almost doubled compared to five years prior. - read more
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In a significant move within the Australian beauty industry, Adore Beauty has announced the acquisition of wellness and skincare brand Ikou for $25 million. This strategic decision aims to bolster Adore Beauty's private label offerings and marks its entry into the physical retail space. - read more
Health Minister Mark Butler has issued a stern warning to private health insurers regarding the use of 'underhanded' tactics to raise premiums. This comes in response to findings that some insurers have been closing old policies and introducing more expensive ones, effectively increasing costs for consumers. - read more
Life is a tapestry of precious moments, each framed by the inevitable uncertainty that the future holds. The awareness that our paths are peppered with unpredictability can often cast a shadow of concern, affecting how we cherish the present. For many, the well-being of family remains the cornerstone of life's purpose, driving the need for a foundation that offers stability and reassurance in the face of life's unexpected challenges. - read more
Income protection insurance is designed to provide financial support if you're unable to work due to illness or injury. It ensures a portion of your income continues to be paid during times when you cannot earn. This type of insurance acts as a safety net, offering peace of mind by securing your financial stability during challenging times. - read more
Income protection insurance is a safeguard that provides individuals with financial stability in the event they are unable to work due to illness or injury. This type of insurance typically replaces a significant percentage of the insured's income, ensuring that their financial commitments can still be met during periods when they cannot earn an income through employment. - read more
With household budgets under pressure ... and consumer confidence weak, many families are wondering whether life insurance is worth the expense. Or maybe it is something they can do without? - read more
Financial security is one of the most important aspects of modern family life. Ensuring that loved ones are protected and well-supported in the event of an untimely death is a fundamental concern for many Australians. - read more
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Knowledgebase
Term Life Insurance: A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.