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Health insurers pay $500m less in benefits due to pandemic restrictions – NEWS.com.au
Health insurers pay $500m less in benefits due to pandemic restrictions
The consumer watchdog has put the hard word on private health insurers to pass on profits to policyholders after paying out $500 million less in hospital and extras benefits in 2019-20 due to COVID-19 restrictions.The lower benefit payout came after the pandemic limited non-urgent elective surgery and non-urgent extras treatments, including most dental, optical and other health services.
At the same time, average premium increases have continued to surge higher than inflation and wage growth, although…
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