Insurers have continued to return profits gained from a reduction in claims during the COVID‑19 pandemic to policyholders, but ongoing restrictions in some states delayed the full return of these profits in 2020-21, the latest ACCC annual report into the private health insurance industry has found.
The ACCC has filed proceedings in the Federal Court seeking an urgent injunction to stop the proposed completion of Virtus Health’s acquisition of Adora Fertility from Healius Limited.
Virtus and Adora are leading providers of IVF services. Both companies operate fertility clinics in Brisbane, Sydney and Melbourne.
The ACCC has reauthorised an agreement among infant formula manufacturers and importers that prohibits them from advertising and promoting infant formula directly to the public.
The Marketing in Australia of Infant Formula: Manufacturers and Importers Agreement (MAIF Agreement) has been authorised until 31 July 2024 after the ACCC accepted that the MAIF Agreement would continue to ensure important restrictions on the promotion of breastmilk substitutes.
Mosaic Brands Limited, an ASX listed company, has paid penalties totalling $630,000, and admitted that it breached the Australia Consumer Law in its promotion of pandemic-related ‘Health Essential Products’.
Mosaic Brands is the largest speciality fashion retail group in Australia. It owns well-known fashion brands Noni B, Autograph, BeMe, Crossroads, Katies, Millers, Rivers, Rockmans and W.Lane and operates about 1210 stores nationally.
Insurers have paid out $500 million less in hospital and extras benefits in 2019-20 compared to the previous year, the latest ACCC annual report into the private health insurance industry has found.
The reduced benefit payout was the result of government-imposed restrictions in response to the COVID-19 pandemic, which limited non-urgent elective surgery and non-urgent extras treatments (including most dental, optical and other health services).
The ACCC has separately authorised private hospitals in Victoria and in Queensland to cooperate with their state health agencies, public hospitals and each other, as they prepare for and respond to the COVID-19 pandemic.
State governments are seeking to boost the capacity of their health systems during the current health crisis by integrating the operations of public and private hospitals.
For the first time, the majority of hospital treatment policies held by Australians now contain exclusions, the latest ACCC annual report into the private health insurance industry has found.
More than 57 per cent of policies held by Australians contain exclusions, up from about 44 per cent in the previous year.