George Savvides, former head of Medibank, warns that the mass exodus of younger Australians from private health insurance will drive-up premiums and place much more pressure on the public health system in the future:
George Savvides, Medibank’s chief executive for 14 years until 2016, has warned an exodus of young people from the private system could skew more people towards the public system and make it more expensive for those that stayed behind.
“Even those Australians who are not privately insured — more than half of the population — they are benefited by having a private system that takes the pressure off the public system,” he told 7.30.
