Following the legislative changes to the rebate tier system which took place from July 2012, there is a steadily increasing proportion of the uninsured market undecided as to their intentions regarding Private Health Insurance, (from 41.9% in June 2011 to 46.8% in the year to June 2013).
Private Health Insurance Intentions in the next year – Uninsured market
Source: Roy Morgan Single Source (Australia), 12 month rolling average, Average sample = 9,560. Base: Australians 14+ not covered by Private Health Insurance. “Undecided about taking up Health Insurance” consists of “Will Shop around and then decide”, “Don’t Know” and “Can’t Say”
Analysis of those intending to enter the market again or for the first time reveals that only 713,000 or 57.1% nominated an intended Health insurance brand. More than a quarter of this segment (28.7%) intend to choose Medibank.
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
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“Following the introduction of the changes to the Health Insurance rebate tier system which took place in July last year, there is a rising incidence of indecisiveness among those who were never insured or have lapsed policies.
“Perceptions of high premiums, negative claims experiences, lack of use and change in family circumstances have led them to leave or remain outside of the Private Health Insurance market.
“An opportunity exists for Health Insurance companies and brokers to use varied mediums to properly inform and educate this segment as to the choices available to them appropriate to their lifestage and income.
“With over half a million of those intending to take out health insurance in the next 12 months not nominating a likely brand, there is a big opportunity for providers to increase their awareness in this market.”
Roy Morgan Research
Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
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