Government Puts Price Controls On Private Health Insurance Providers

In another sign of the malignant march of socialism into Western governments, the Australian Federal government today announced it would force private health providers to keep premium increases below 4%.

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This figure will be the lowest average increase since 2001. Premiums rose by an average of 5.6% every year since 2010. The price controls will likely affect profits made by private health providers.

It is well known that private health providers provide way, way better outcomes for customers than the public Medicare system. Also, just like the banks, private health providers provide excellent returns for shareholders, which most Australians would also be due to their superannuation funds.

The pro-freedom and pro-market think tank Institute for Public Affairs has savaged the proposed price controls on private health providers. "It's an attack on the freedom of Australians to choose to which business they want to give away their money," said IPA fellow Phil Klosch.