Sharon Claydon (Newcastle, Australian Labor Party) Share this | Link to this | Hansard source

This week's ACCC report on the state of private health insurance found that Australians were paying an extra $1 billion in premiums in the years between 2015-16 and 2016-17. Dissatisfaction has also soared, with complaints increasing by a phenomenal 30 per cent, and exclusions continue their relentless rise. Meanwhile, figures released earlier this year show that insurers' profits continue to grow. So private health insurance costs have blown out by almost 30 per cent under the Liberals, with families now paying $1,000 more every year than they did back in 2013. It's little wonder that Australians are dropping their private health insurance coverage in droves.

Despite this, the Turnbull government is refusing to do anything meaningful to address this looming crisis. While this out-of-touch government will do anything to protect the profits of multinational insurers, Labor will shift the balance back in favour of consumers. We will cap private health insurance premiums at two per cent for two years, saving families an average of $340 a year, and task the Productivity Commission with a thorough review of this issue, focusing on the value, quality and affordability of private health insurance. We're also asking Australians to share their opinions on how we can shape a better, more affordable, effective system. (Time expired)