Australia: Young people cancel health insurance despite pandemic
Source: Asia Insurance Review | Nov 2020
Over 29,000 Australians cancelled their private health insurance from March to June 2020 since the pandemic started, according to information released by the federal government.
During the pandemic, many elective surgeries and routine services like dental and eye appointments had to be cancelled. This meant that people did not have access to services that their insurance would typically cover and led to many young Australians feeling that their insurance was not worth the money.
According to ABC Australia, insurers paid about A$3.3bn ($2.3bn) in hospital benefits during the last quarter, which was about 12.9% less than the previous three months. A