HCF welcomes prosthesis reform recommendations
Sydney, 12 May, 2017 – HCF, Australia’s largest not-for-profit health fund, welcomes the recommendations made by the Senate Community Affairs References Committee titled ‘Price regulation associated with the Prostheses List Framework’ tabled in the Senate yesterday.
The review of the Prosthesis List pricing framework by the Committee has led to recommendations to reform the pricing list, which if implemented, are set to relieve the pressure on private health insurance premiums and ensure better pricing transparency for consumers.
John Barrington, Acting Managing Director, HCF praised the Committee’s recommendations: “We welcome the recommendations in today’s report to the Senate on the Prosthesis List. There is clearly a great deal of work needed to ensure our members and indeed all Australians have transparency around the cost of life enhancing prostheses. In addition, a reset of the pricing of prostheses will allow us to pass on savings to our members, by reducing the premium increases in future premium change cycles.
“It is encouraging to see the Committee have consulted widely with key stakeholders and understood the impact the current Prosthesis List has on health insurance premiums. It is also encouraging that they have called for urgency in reforming the Prosthesis List.
“As a not-for-profit health fund, which has long been working with the Government to achieve an overhaul of the Prosthesis List, we look forward to passing on the savings to our members. We also look forward to continuing to work with the Government to achieve meaningful change that will benefit patients immediately and in the future.”
Issued on behalf of HCF by WE Buchan. Media inquiries to:
- Sarah Kelly
M: 0411 893 890
HCF, Australia’s leading not-for-profit health fund, covers over 1.5 million members with health and life insurance, community care, travel and pet insurance. On average over the last five years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. With over 35,000 specialists participating in its Medical Gap Cover Scheme and approximately 10,000 providers participating in its 100% back More for You programs, HCF gives members access to quality health care with no gaps or minimal costs compared to non-participating providers. To empower members to put their health first, HCF also offers a range of health and lifestyle services including its My Health Guardian health management program, mobile Victor Chang Health Checks and My Global Specialist second opinion service. HCF’s national network of retail outlets and Australian-based call centres have earned multi-award winning status. HCF members also have access to low cost, high quality services at HCF Dental Centres and HCF Eyecare Centres. Having contributed $50 million to support the health services research funded by the HCF Research Foundation, HCF is devoted to investing in the future of Australia’s health.
To learn more about HCF go to hcf.com.au/about-us