Rob Seljak - Teachers Union Health (TUH) - Why don’t more people switch health funds?
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Transcript of Rob Seljak - Teachers Union Health (TUH) - Why don’t more people switch health funds?
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Why don’t more people switch health funds?
Rob Seljak
CEO, TUH
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How many switch?
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How many switch?
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Are more people switching?
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Are more people switching?
YESBUT
The rate of switching is still not material
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Should we be worried?
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Should we be worried?
ITDEPENDS
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Why do people switch?
49%
39% 32%
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How about intermediaries?
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Why don’t more people switch?
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Privately, we won’t change
“There’s probably about 100,000 to
120,000 people changing insurers of
about 11 million people covered
which is a very small number’’
Shaun GarthCEO, PHIAC
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Telco switching
“Almost half of Australian mobile phone
subscribers have switched providers in the past
three years, and 40 per cent are considering a
change in the next 12 months, new research
shows”
Sydney Morning Herald
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Ombudsman complaints
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Ombudsman complaints
PHI vs Telco complaints
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Why don’t more people switch?
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Product design
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Regulatory framework
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Premium variabilityPremium increases +/- 2% from industry average
2004-2008 2009-2014
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Why don’t more people switch?
Too complicatedToo much effortToo time consuming (IPSOS)
BUT WE TELL THEM IT’S EASY!
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Transfer process
Slow
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Transfer process
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Transfer process
Bureaucratic
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Transfer process
Not enforced
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Awareness of
Transfer Rules
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What would cause more people to switch?
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Questions
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Thank you
Sources:
• PHIAC - Portability, switching and competition in the Australian PHI market – July 2013
• IPSOS – Health Care and Insurance Australia Report - 2013