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. Luke’s 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.