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05 Sep 2019

Private health insurance continues to top the list of Australians’ money concerns, according to the latest CHOICE Consumer Pulse survey.

The consumer advocacy group has found that for the third survey in a row, private health insurance dominates financial worries in households around the nation.

For the past four years, the survey has been conducted and published quarterly. This current survey is for the June quarter of this year.

Eighty-two per cent of the survey’s respondents rated private health cover as their biggest money worry. Fuel cost was the next highest, with 80 per cent saying it was their biggest worry. And 79 per cent said the cost of electricity was the main worry.

Interestingly, while the money concerns around private health cover remains high, confusion over various policy options has fallen from 62 per cent to 53 per cent.

The survey results come as the latest Australian Prudential Regulation Authority (APRA) statistics reveal that more than 28,500 people dropped their hospital cover in the three months to June.

The survey also shows that, while still high at 42 per cent, the proportion of Australians worried about debt is at its lowest since the surveys began.

However, one in four households still struggle financially, with 44 per cent of respondents concerned that they or their partner could lose their job.

CHRIS JOHNSON

 

 


Published: 05 Sep 2019