Australia’s Medicare network struggling with a growing population
The number of people living in Australia’s national health system has more than doubled in a decade, with the number of Australians with private insurance soaring to nearly 2.2 million, a survey by the Commonwealth Bank found.
The figures come as Australia’s health system struggles to cope with growing demand for healthcare services and growing health care costs.
The Commonwealth Bank’s latest Australian Healthcare Services Market Snapshot shows that Australia’s total health insurance market has more people with private health insurance than any other country.
Australia’s population has increased by 3.5 million in the past five years, bringing the total population to 1.9 million.
“With a population of more than 3.9 billion people, Australia has a very strong private health care system,” said Commonwealth Bank chief economist and co-author of the study, Paul Murphy.
Private health insurance has grown at a rate of more 50 per cent over the past four years, the report said.
With a healthy population and a healthy economy, Australia will continue to have a strong private healthcare sector for a long time to come.
“The public sector has been hit by the downturn and this is reflected in a decline in the proportion of private health insurers,” Murphy said.
“Private health insurers are now about 10 per cent of the total market, up from just 1.5 per cent in 2006.
The survey found that the number who were insured through their employer was at a 30-year low, with just 6.5 percent of employees receiving coverage through their own employer.
But Murphy said that as the number and scope of healthcare services grew, employers started to provide private health coverage, and it was this expansion that was seen as driving the expansion of private insurance.
There are currently more than 13 million people insured through the Commonwealth, with most of them working for companies such as AIG and ANZ.
Despite this expansion, Murphy said private health premiums are expected to continue to grow and this would lead to further increases in private health costs.
This is partly due to the health system not having a good balance between the needs of those who have private insurance and those who do not, he said.”
If you have a person who is working full-time, who’s on Medicare, you have to cover them,” Murphy told ABC News Breakfast.
He said that when people do get a health check up, the cost to the system would also increase, which would likely result in more people being in the system.”
You have to make the decisions on who’s going to be in the care system and when, who is going to need to be seen, who needs to be sent for a GP visit,” Murphy added.
The population of Australia has gone up by about three quarters in the last 10 years.””
It’s going be a very long-term trend for Medicare in Australia.
The population of Australia has gone up by about three quarters in the last 10 years.”
The report found that while people with employer-provided health insurance are not seeing any increases in their premiums, they are seeing an increase in their out-of-pocket costs.
The average cost for an annual premium for a full-year Medicare enrolment period was $16,200 in 2019, while the average out-pocket cost for enrolment in the Commonwealth was $1,819 in 2019.
It’s estimated that in the coming decade, the Commonwealth will be spending $13.8 billion on Medicare premiums, up by $8.2 billion from 2019.