Australian Prudential Regulation Authority Releases Quarterly Private Health Insurance Statistics for December 2020
The
The publications provide industry aggregate summaries of key financial and membership statistics for the private health insurance industry.
Year to
The COVID-19 driven operating environment had a material effect on the industry's performance in the year ending
Hospital treatment membership increased by 103,179 persons. Older Australians taking out hospital membership was consistent with this longer-term industry trend, with membership in the 50+ age group increasing by 78,200 persons. Increased membership among younger people (aged 20 to 49) was more subdued over the period, rising by 14,639 persons in the year to
Key performance statistics for the industry in the year ended:
The COVID-19 driven operating environment continued to impact private health insurers in the
The stronger growth in premium revenue compared to benefit claims resulted in an improvement in gross margins. While net margins also improved in the quarter, with management expenses growing broadly in line with premiums, they remained below pre-COVID levels.
The industry also reported a small increase in membership levels, with hospital membership growing by 34,801 persons after increasing by 104,106 persons in the previous quarter.
Key performance statistics for the industry in the quarter:
Copies of the
See tables here (https://www.apra.gov.au/news-and-publications/apra-releases-quarterly-private-health-insurance-statistics-for-december-2020)
Footnote:
1/ Deferred claims liability (DCL) increased by about
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