Private Health Insurance Statistics March 2024: APRA Reports Membership and Benefits Paid

Finance

Article: The Australian Prudential Regulation Authority (APRA) has released its March 2024 quarterly report on the private health insurance (PHI) sector, providing insights into the industry’s performance. This report covers critical data points such as membership, coverage, and benefits paid, as well as medical gap, prostheses, and medical services only.

APRA’s PHI statistical publication is an essential resource for understanding the trends in Australia’s private health insurance industry. The membership statistics can provide insights into the number of people who have signed up for PHI, while the coverage data can help in understanding the types of policies and levels of coverage people are opting for.

The benefits paid section of the report is also noteworthy, as it can offer a glimpse into the actual financial impact of the PHI sector. The medical gap data, on the other hand, can shed light on the out-of-pocket expenses that patients may face, despite having PHI.

The statistics on prostheses and medical services only can provide valuable insights into the specific aspects of healthcare that the PHI sector is supporting. These figures can be particularly relevant for individuals and families who are considering their PHI options, as well as for healthcare providers and policymakers.

APRA’s March 2024 PHI report is available on their website, and historical data can be accessed through the Australian Government web archive.

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