Health Insurance market in Australia is expected to grow at a CAGR of 10.11 percent over the period 2012-2016. The healthcare system in Australia is quite a robust model which lays focus on health as well as social well-being. Healthcare in the country is provided majorly by the public sector, followed by the private sector. The Australian government accounts for a Commonwealth form with six states and two territories. The Commonwealth is funded by the government with a focus on the development of national health policies, regulations, and funding. The Commonwealth looks after the governance of the healthcare system. The execution, oversight, and regulation of public health services as well as healthcare providers come under their purview. One of the key factors contributing to this market growth is the healthy competition in the market and good governance structure practiced by the regulatory bodies. The Health Insurance market in Australia has also been witnessing the continued support of Government in order to encourage the use of private health insurance.
The key players in the market are Medibank Private Ltd., Bupa Australia, and Hospital Contributions Fund of Australia Ltd. Fund.
Other players listed in this report are Defense Health Ltd., Newcastle Industrial Medical Fund, Australian Health Management, Australian Unity Health Ltd. Fund, Teachers Health Fund, National Health Benefits Australia Pty, Hospital Contributions Fund, Geelong Medical and Hospital Benefits Association, Hospital Benefit Fund, Westfund, Peoplecare Fund, RT Health Fund, Grand United Corporate Health, Latrobe, Healthguard Health Benefits Fund Ltd., Commonwealth Bank Health Society, Navy Health Fund, Cessnock District Health Benefits Fund, ACA Health Benefits Fund Ltd., Phoenix Health Fund Ltd., Doctors Health Fund, Credit Union Australia, ACA Health Benefits Fund Ltd., Credit Union Australia, Reserve Bank Health Society Ltd., Health Care Insurance Ltd., Mildura District Hospital Fund Ltd, St. Lukes Health Insurance Ltd, Health Partners Private Health Fund, Queensland Country Health Fund, Transport Health, Health Insurance Fund of Australia Ltd., Queensland Teachers' Union Health Fund, and Police Health Ltd.
02. Status of Health Insurance Market in Australia
02.1 Market Overview
02.1.1 Medicare in Australia
02.2 Pharmaceutical Benefits Scheme
02.3 Private Health Insurance
02.4 Market Size
03. Geographical Status of the Market
03.1 Demand Side Market Segments
03.2 Supply Side Market Segments
03.3 What is the Incentive for Taking Up Private Health Insurance?
04. Funding Mechanism
04.1 Public Health Insurance Services
04.2 Private Health Insurance Services
04.3 Hospital Treatment Services
04.4 General Treatment Services
04.5 Medical Services
05. Benefits Paid
05.1 Hospital Treatment Benefits
05.2 General Treatment Benefits
06. Regulatory Framework
07. Why and Why Not...
08. Key Players in the Industry
09. Way Forwardâ¦
10.2 Medical Services and General Treatment
11. Other Reports in this Series
Exhibit 1: States and Territories in Australia 1
Exhibit 2: Key Stakeholders in the Health Insurance Industry in Australia 2
Exhibit 3: Total Health Expenditure Per Person Per Year in Australia (US$ billion) 4
Exhibit 4: Average Number of Medical Services Processed Per Person 6
Exhibit 5: Percentage of People with Private Health Insurance 8
Exhibit 6: Growth in the Revenue of the Private Health Insurance Market to reach US$25.5 billion by 2016 (US$ billion) 9
Exhibit 7: Distribution of Policies Across Australia 11
Exhibit 8: Total Charges met for Privately Insured Services 2012 14
Exhibit 9: Total Charges met for Hospital Treatment Services 2012 15
Exhibit 10: Total Charges met for General Treatment Services 2012 16
Exhibit 11: Government Caters to a Major Portion of the Medical Services 2012 17
Exhibit 12: âSense of Being Medically Securedâ Recognized as one of the Major Reasons for the Uptake in Private Health Insurance 20
Exhibit 13: âLower Affordabilityâ Recognized as a Major Reason for not Taking Up Private Health Insurance 20