Australian Health Insurance Reform: Challenges and Opportunities

Health actuaries have been quite busy over the past few months trying to make sense of the various reforms that were introduced by the Department of Health to address the challenges of affordability and complexity of New Private Health Insurance (PHI) in Australia. Some of these reforms (although not yet finalized) will come into effect on April 1, 2019. The new reform measures present health insurers with both a challenge and an opportunity: How to minimize the impact on existing business? How to maximize the opportunity to grow the business