Medibank Private Limited
(ASX:MPL) has announced it has received approval from the Federal Government to increase its premiums by an average 4.60%.
The private health insurance company says the Federal Minister for Health signed off on the approval, which will take effect from 1 April 2017, across all Medibank and ahm insurance products.
Medibank says the average premium increase is its lowest in 15 years and is 24 basis points under the industry average, even amid growing health costs.
The company says it is continuing to work with the government and industry to promote reform that drives down consumer pressures.
Medibank Private Limited
(ASX:MPL) reported a net profit of $417.60 million at 30 June 2016.
