More trouble for private health funds as financial markets crash due to coronavirus

Posted by on May 19, 2020 3:31 am
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Categories: Global Stories

Market losses have wiped out any benefits industry might have enjoyed from fall in claims due to cancellation of elective surgery

The coronavirus pandemic has plunged the already troubled private health insurance industry deeper into crisis, with funds losing money in the first three months of the year as financial markets crashed.

Australians continued to turn away from private health insurance as investment income diminished, continuing a long-term trend that experts say has the industry locked in a “death spiral”.

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