Business
Why the Medibank (ASX:MPL) has surged 4% higher today
The Medibank Private Ltd (ASX: MPL) share price is surging more than 4% higher today to start the pre-Christmas trading week strongly.
This follows a market update this morning on changes to its health insurance premiums from April next year.
Why is the Medibank Private share price surging?
The Aussie private health insurer has received approval to increase its Medibank and ahm health insurance premiums. From 1 April 2021, premiums will rise by an average of 3.25% – the lowest average premium increase in 20 years.
The Medibank share price has rocketed 4.1% higher to $3.05 per share today. The news buoyed investors in an otherwise soft day of trade on the ASX across sectors.
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