The Australian Prudential Regulation Authority (APRA) has published its annual Private Health Insurance Coverage Survey for the December 2023 period.
The report provides detailed data on the number of individuals with hospital treatment cover, categorised by age, gender, and state of residence. It presents a comprehensive view of private health insurance coverage across Australia at the end of each year.
The latest Private Health Insurance Coverage Survey revealed that the number of individuals with private health insurance coverage for hospital treatment in Australia increased from 11,815 in December 2022 to 12,093 in December 2023, a 2.3% annual increase.
The number of Australians with private health insurance coverage for hospital treatment based on state:
The rest of the data is available on the APRA website.
APRA recently released its response to stakeholder feedback on proposed updates to its quarterly insurance statistical reports.
The enhancements align with the implementation of the Australian Accounting Standards Board 17 Insurance Contracts (AASB 17) and new capital requirements for private health insurance companies.
The changes include revised content and enhanced data presentation using dynamic dashboards and charts. Confidentiality protections remain, with further consultations aiming to address changes to other insurance publications.
APRA also added data items beyond what it initially proposed in response to the feedback. It expects the enhanced quarterly insurance statistics to launch in August 2024.
Additionally, APRA and the Australian Securities and Investments Commission (ASIC) have published their finalised guidance for the Financial Accountability Regime (FAR).
