The Australian Prudential Regulation Authority (APRA) has released its quarterly private health insurance (PHI) publications for the September 2022 quarter.
Some of the latest findings include:
- A decrease in net profit after tax over the year to September 2022 (down 49.6% to $0.9 billion) compared to the previous year.
- Premium revenue in the year to September 2022 increased by 2.4% through a combination of rising membership and premium increases.
- Claims increased over the period by 2.8% from the easing of COVID-19 related restrictions and movements in insurers’ Deferred Claims Liabilities (DCL ).
- Hospital treatment membership increased by 2.2% or 256,768 persons during the year to September 2022 with membership among insured persons aged 20 to 49 increasing by 2.2% or 90,073 persons.
Copies of the September 2022 quarterly publications are available on APRA’s website here.