Labor leader, Bill Shorten’s, comments to the Press Club claiming Australia’s private health insurance industry is “treating Australians like mugs” and “gouging people on the basis of a con” has earned a strong rebuke from the industry and the Turnbull Government. From The Australian:
“The business-as-usual approach is not cutting it,” Mr Shorten said. “I’m fed up with the private health insurance industry treating Australians like mugs, gouging people on the basis of a con. This is an industry that’s holding about $6 billion over and above the legal capital requirement — and receiving $6bn in taxpayer-funded subsidies each year. Yet, despite having a stack of cash in the bank, profits in the billions and government support, the private insurers keep aggressively increasing their premiums each year”…
