Overview of Private Health Insurance in Australia

Private Health Insurance (2018) states that Insurance is defined as the protection that is being done from the financial loss which can be incurred from the various types of risks including transportation, health, family and others. There are a number of insurance categories which can help an individual to cater to the risk incurred by the various people namely the health insurance which protects the person from the various health hazards. As per the statemnets by Lagomarsino, Garabrant, Adyas, Muga and Otoo, (2012), now every health insurance comes with its set of objectives and issues which has been discussed in relation to the Private Health Insurance 2017 norms. According to the statements made in the Private Health (2018), The Private Health Insurance in Australia is a initiative from the Government of Australia which is managed by the Private Health Insurance Ombudsman. The insurance company aims to provide insurance to the people and also helps the people to choose from the best insurance services in the provinces of Australia (Private Health, 2018). The report aims to establish the objectives of the reform and the critical evaluation of the strategy along with opportunities and recommendations.

Discussion of the Private Health Insurance reform in Australia 2017

According to the statements of Schwartz, Furrow, Graney, Johnson and Stoltzfus Jost, (2013), the Private Health Insurance in the year 2017 reformed its measures and objectives in order to make the insurance policy for the people simpler and better in every sense. In addition, the affordability rate of the private health insurance is also made better by having different modes of payment to the health bills. According to Paez et al. (2014), the power of the organization is to be increased along with the number of benefits to have detailed analysis of the task. The hospital insurance is increased to allow the insurance of travel and accommodation facilities in the section. The reform is a basic way to have the analysis for the health insurance act for the people of the Australian origin (Lagomarsino, Garabrant, Adyas, Muga & Otoo, 2012). The private health insurance reform is one of the basic reforms that is there for the majority of the span in the prolonged span of time.

Sommers, Buchmueller, Decker, Carey and Kronick, (2012) states that there are a number of objectives that are there for the Private Health Insurance reform in Australia in the year 2017 –

• Differentiating the insurance of hospitals into the various modes to have a decent amount of price difference between the bronze, silver and gold and even the basic category.
• Up gradation of the website for the easy handling of the customers and the easy way for the customers to engross in the activities. The personalised way of the system is to be connected to have a detailed analysis (Sommers, Buchmueller, Decker, Carey & Kronick, 2012).
• Reduction in the cost of the customers through benefit reduction for upto $1.1 billion
• The insurer age to expand from 18 to 29 years of age to have a detailed benefit in matters of the hospital discount schemes. The overall discount for the people after they have turned 41 is to be implied to have a detailed analytical schemes in the areas (Smith & Medalia, 2014).
• To increase the voluntary ways and schemes for the hospital authorities and to make sure to have a detailed analytical scheme for the sense since the time span of 2000 (Rosenbaum & Sommers, 2013)
• The removal of the coverage and the range of natural therapies and benefits under the category of general to have a detailed analytical facts. The overall analysis is to be done on the basis of the people who come under the therapy and some of the diseases have to be excluded to have an analytical schemes for the aspect (Smith & Medalia, 2014)
• The increase in the number of people who are the volunteer in the whole part to have a detailed analysis of the facts in the period. The volunteers strive to meet the people who are under the areas and to have a forceful impact on the changes adhered.

Private Health Insurance Reforms in 2017

The strategy which is there for the development of the facts is to be considered to have a detailed analytical schemes of the areas which is meant to establish a positive aspect of the whole scheme. Rosenbaum & Sommers, (2013) states that the private insurance of Australian government is to be considered that the overall analysis of the new aspects of the insurance act is to be issued to meet the ways and means of the customers. Critically evaluating the overall analysis of the strategy implied, it can be stated that the overall analysis of the new reforms that are there in the new means of the Australian private insurance is to be analysed. The insurance reforms are done to adhere to the different needs of the people and their insurance claims that has been provided by the company and the Australian government.

Buchmueller, Fiebig, Jones and Savage, (2013) states that the overall critical evaluation of the fact makes sure that Australian private insurance deals with the health of the people which is one of the most important aspects for any of the individual in any parts of the global sphere. In addition, the overall analysis of the strategy is to adhere to the fact that the strategy claimed by the private insurance company is to make sure that the overall perspective of the insurance is user-friendly for the people who are conducting the work (Buchmueller, Fiebig, Jones & Savage, (2013). In addition, the overall analysis of the fact make sure that the new strategy have the required benefits and detailed sources for the easy way for the customers who are there for the analysis for the matter.

Strategically speaking it can be said that the overall analysis of the insurance and the reforms that are being implemented in the arena is to make sure that every customer of the insurance irrespective of the fact is to be adhered to the sense to have a detailed analytical sources in the span of time. The reforms that are being implemented by the company is mainly done to adhere to the needs of the government and to have more business in terms of the customers.

There are a multiple areas in which the development of the insurance act can be done which are as follows –

• One of the principle areas in which the development can be done is to increase the amount of money the government spends in the insurance of the people and also to catering to the maximum stretch of population in the span of time. The overall analysis of the insurance and the financial matter in terms of the insurance act is to be assessed.
• The second opportunity which can be made for the development of the insurance act is to benefit a large number of people by including more people in the age group and also to expand the age group in the span of time. The age group above which the discount will be given should also be increased to have more people capable of roping the benefits
• The third opportunity that is there in the span of time is to have a detailed analytical figure and also to have a cell in which the calculations for the task can be done. In addition, the overall analysis of the task is to be made aware of the span and also to adhere to the means in the span of the time. If more access can be done to the given population base and also the people having the analytical figures in terms of the organization for the benefits, more customers can be roped enjoying better benefits.

The policy and the reforms that are there in the Private Insurance reform of the year 2017 is one of the pivotal means for the accessing the insurance act have the facilities given by the people. The recommendations for the insurance reforms for the year 2017 can be said in the following terms –

• The foremost recommendation is to analyse the needs of the people and to make the insurance policy according to the needs of the population which is one of the primary aims for any organization that is run by the government. The Private insurance reforms of 2017 is based on the needs of the people, however, there are certain hospitals, cases and diseases in which the insurance does not work which can be a casue for the concern for the people. If the insurance company can mend these things, they will provide for the better benefits.
• The amount of coverage can be increased so that even in times of extreme health conditions, these kind of insurance can be accepted and also made into action by the span of time. The overall analysis of the people and the insurance that is being given for them is to be assessed based on the needs which are lacking in the terms in some way or the other. If the above concerns are being tacked and each of the people are given equal opportunities to avail by increasing the coverage versions, then the wholesome matter can be changed.
• The third recommendation is to have a detailed analysis of the insurance and the terms and conditions of the act in the website itself along with a calculator for calculating the amount of money that is to be given by the people in terms of the time span. If such detailed analysis of the insurance and the terms can be provided, surely a number of people will be interested due to the clarity of the action.

Objectives of Private Health Insurance Reform in 2017

Conclusion

At the end of the analysis, it can be concluded that the reforms of the private insurance act of the Australian government in the year 2017 needed some of the mandatory changes and amendments to cope up with the people in the selected span of time. The insurance act needed to be adjusted as per the needs of the people which is being done to a great extent. Moreover, the report here analysed all the detailed and necessary acts in the span with the critical strategic analysis of the same. Detailed recommendations are also being provided to the work to give ample evidence in the span of the time.

References

Buchmueller, T. C., Fiebig, D. G., Jones, G., & Savage, E. (2013). Preference heterogeneity and selection in private health insurance: The case of Australia. Journal of Health Economics, 32(5), 757-767.

Lagomarsino, G., Garabrant, A., Adyas, A., Muga, R., & Otoo, N. (2012). Moving towards universal health coverage: health insurance reforms in nine developing countries in Africa and Asia. The Lancet, 380(9845), 933-943.

Paez, K. A., Mallery, C. J., Noel, H., Pugliese, C., McSorley, V. E., Lucado, J. L., & Ganachari, D. (2014). Development of the Health Insurance Literacy Measure (HILM): conceptualizing and measuring consumer ability to choose and use private health insurance. Journal of health communication, 19(sup2), 225-239.

Private Health (2018) Available on https://www.privatehealth.gov.au/healthinsurance/ [Retrieved on 25 Oct 2018]

Private Health Insurance (2018) Available on https://www.health.gov.au/internet/main/publishing.nsf/Content/private-health-insurance-reforms-fact-sheet-summary [Retrieved from 25 Oct 2018]

Rosenbaum, S., & Sommers, B. D. (2013). Using Medicaid to buy private health insurance—the great new experiment?. New England Journal of Medicine, 369(1), 7-9.

Schwartz, R. L., Furrow, B. R., Greaney, T. L., Johnson, S. H., & Stoltzfus Jost, T. (2013). Health law: cases, materials and problems. West Academic Publishing.

Smith, J. C., & Medalia, C. (2014). Health insurance coverage in the United States: 2013. Washington, DC: US Department of Commerce, Economics and Statistics Administration, Bureau of the Census.

Sommers, B. D., Buchmueller, T., Decker, S. L., Carey, C., & Kronick, R. (2012). The Affordable Care Act has led to significant gains in health insurance and access to care for young adults. Health affairs, 32(1), 165-174.

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Chrisopoulos, S., Harford, J. E., & Ellershaw, A. (2016). Oral health and dental care in Australia: key facts and figures 2015. Australian Institute of Health and Welfare.

Jeon, B., & Kwon, S. (2013). Effect of private health insurance on health care utilization in a universal public insurance system: a case of South Korea. Health policy, 113(1-2), 69-76.

Wilkins, R. (2015). The household, income and labour dynamics in Australia survey: Selected findings from waves 1 to 12. Melbourne: Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.

Willis, E., Reynolds, L., & Keleher, H. (Eds.). (2016). Understanding the Australian health care system. Elsevier Health Sciences.