Medical treatment insurance is the cheapest, the best and the most popular form of health insurance for Australians.
The Australian Bureau of Statistics (ABS) data shows the average monthly premium paid for medical treatment was $1,946 for a single person and $3,079 for a couple, with some people paying up to $8,000 for a first year of coverage.
But there are differences in the coverage offered by each type of medical treatment.
First-time users of medical treatments have lower costs and less access to other forms of health care, the ABS found.
People who have had surgery or a minor operation are more likely to qualify for Medicare.
Second-year users are also less likely to be eligible for other forms a public service, and have a lower annual premium.
“It is clear that the current system of healthcare is not the best, or the most cost-effective way of ensuring access to health care for Australians,” the ABS said in a statement.
ABS found that for a family of four paying an average of $9,000 a year, the first year’s coverage would be the cheapest of any type of health insurer.
While first-time patients, who are less likely than second-year enrolments to have been through the initial stages of medical training, have the lowest costs of any group, the lowest annual premiums for those who have received medical treatment are for first-year patients, the latest data from the ABS shows.
It is the first time a medical insurance policy has shown a lower average annual premium than the average annual costs of all other types of insurance, including public service pension, employer pension, employee pension and employer-sponsored health insurance.
More to come.