New analysis from The Australia Institute has found that private health insurers are making a killing but have managed to convince the government to let them make even more.
According to the latest data from the Australian Prudential Regulation Authority (APRA), the biggest of them all, Medibank, recorded a pre-tax profit of $785 million last year, yet has been given permission to increase premiums by 3.99% from next month … above the average increase and above the rate of inflation.
Medibank’s profit represents a 45% return on equity, which means – in one year – it made almost half the overall amount the company’s shareholders have invested in the company.
BUPA made $607 million and is putting premiums up by 5.10%, while NIB made $289 million and will hike premiums by 5.79%.
“While Australians struggle through a cost-of-living crisis, health insurers are raking it in,” said David Richardson, Senior Research Fellow at The Australia Institute.
“They know their customers are struggling. But they obviously care more about profits.
“How much profit is enough? Medibank made three-quarters of a billion dollars yet is still putting premiums up by more than most.
“When they’re making a fortune, there is no justification for increasing premiums above the rate of inflation.
“Do they even live in the real world? This is a dud industry which is milking profit from customers’ pain.”
While Australians struggled with the cost-of-living crisis, the three largest private health insurers of Medibank Private, BUPA and NIB made pre-tax profits of $1.7 billion in 2023-24, according to APRA data.
Even with this these huge profits they continued to ask for more. The private health insurance lobby had been pushing for increases in insurance premiums beyond inflation. On 26 February the Minister, Mark Butler, permitted an average premium increase of 3.73%, which will apply from 1 April 2025. The Minister also claimed to have considered the insurers “years of record profits” yet Medibank, BUPA and NIB all received approval for above-average increases of 3.99%, 5.10% and 5.79% respectively.
The profits of Medibank, BUPA and NIB contradict the insurance industry’s claims that “nearly every dollar that comes into health insurance goes back out to hospitals, to doctors, to physiotherapists to dentists”.
Australia’s private health insurance industry is highly concentrated with the top five insurers (Medibank, BUPA, NIB and not-for-profits HCF and HBF) accounting for 79% of all premium income.
Tax Justice Network Australia’s Mark Zirnsak, Centre for International Corporate Tax Accountability and Research’s Jason Ward, Oxfam Australia’s Josie Lee, and Professor Grantley Taylor join the panel on International Taxation. Recorded on the 21st of February as part of Per Capita’s Community Tax Summit, at Solidarity Hall at Victorian Trades Hall, Melbourne.
The Community Tax Summit bought together Australian NFPs, Think Tanks, Advocacy Groups and more to kick off a “big conversation” about Australia’s tax and transfer system. There our panels of experts and those with lived experience demonstrated that there is an genuine appetite for tax and transfer reform, which is both needed and wanted in the next term of Parliament.
The final session in the summit, Emma Dawson, Terese Edwards, Iain Walker, and Peter Lewis combine to discuss how we can take what we’ve learned from the past two days and apply it to changing the Australian tax and transfer system.
Recorded on the 21st of February as part of Per Capita’s Community Tax Summit, at Solidarity Hall at Victorian Trades Hall, Melbourne. The Community Tax Summit bought together Australian NFPs, Think Tanks, Advocacy Groups and more to kick off a “big conversation” about Australia’s tax and transfer system. There our panels of experts and those with lived experience demonstrated that there is an genuine appetite for tax and transfer reform, which is both needed and wanted in the next term of Parliament.
Our second lived experience panel explores the outcomes of the current, inequitable system, as experienced by every day Australians with regard to climate change adaptation and resilience.
Recorded on the 21st of February as part of Per Capita’s Community Tax Summit, at Solidarity Hall at Victorian Trades Hall, Melbourne. The Community Tax Summit bought together Australian NFPs, Think Tanks, Advocacy Groups and more to kick off a “big conversation” about Australia’s tax and transfer system. There our panels of experts and those with lived experience demonstrated that there is an genuine appetite for tax and transfer reform, which is both needed and wanted in the next term of Parliament.
Political economist, writer and advocate for economic system change, Dr Katherine Trebeck gives the final keynote address for the Community Tax Summit. Recorded on the 21st of February as part of Per Capita’s Community Tax Summit, at Solidarity Hall at Victorian Trades Hall, Melbourne.
Katherine’s roles include writer-at-large at the University of Edinburgh, Economic Change Lead at The Next Economy, and Strategic Advisor to the Centre for Policy Development. She co-founded the Wellbeing Economy Alliance (WEAll) and also WEAll Scotland, its Scottish hub.
The Community Tax Summit bought together Australian NFPs, Think Tanks, Advocacy Groups and more to kick off a “big conversation” about Australia’s tax and transfer system. There our panels of experts and those with lived experience demonstrated that there is an genuine appetite for tax and transfer reform, which is both needed and wanted in the next term of Parliament.
Media Release Number 2025-04: Bank Indonesia (BI) and Reserve Bank of Australia (RBA) have renewed and strengthened the Bilateral Currency Swap Arrangement (BCSA) on March 4 2025, for a period of five years. This agreement was signed by Governor Perry Warjiyo and Governor Michele Bullock. This follows the initial agreement which was signed in December 2015 and has been renewed thereafter.
Mass farmed salmon deaths are continuing in southeast Tasmania, with rotting corpses washing up along the state’s beaches.
Tasmania’s Environment Protection Authority appears to know very little about what is going on.
A similar event occurred in Macquarie Harbour last year, with 10 per cent of farmed fish dying.
Concern among Federal Parliamentarians is increasing with Tasmanian Senator Jacqui Lambie and Independent MP Andrew Wilkie calling out the unsustainable practices of the salmon industry in recent days.
Meanwhile, the science remains clear that salmon farms are the number one threat to the endangered Maugean skate, recognised for its world heritage value.
Now, the salmon industry has admitted the real number of local people whose jobs would be affected if the industry moved out of Macquarie Harbour.
“The Australia Institute has shown the real number of jobs for west coast locals in Macquarie Harbour is fewer than 76 since 2023,” said Eloise Carr, Director of The Australia Institute Tasmania.
“Now the salmon industry has finally owned up and admitted it’s 60, not the 400 so often claimed.
“Jobs like those in processing and administration, already based elsewhere, do not have to rely on industrial fish feedlots that destroy world heritage.
“This misleading behaviour may have caused the government to invest in oxygenation trials when in fact it would be more economically prudent to destock and provide direct support to affected workers.”
Well, thank you, and thanks to all the gathered delegates and luminaries and media professionals.
And thanks especially to the hosts of the Munich Security Conference for being able to put on such an incredible event. We’re, of course, thrilled to be here.
And, of course, it’s great to be back in Germany. As you heard earlier, I was here last year as a United States senator. I saw Foreign Secretary David Lammy and joked that both of us last year had different jobs than we have now.
But now it’s time for all of our countries, for all of us who have been fortunate enough to be given political power by our respective peoples, to use it wisely to improve their lives.
I was fortunate in my time here to spend some time outside the walls of this conference over the last 24 hours, and I’ve been so impressed by the hospitality of the people, even, of course, as they’re reeling from yesterday’s horrendous attack.
And the first time I was ever in Munich was with my wife, actually, who’s here with me today on a personal trip. And I’ve always loved the city of Munich, and I’ve always loved its people.
And I just want to say that we’re very moved, and our thoughts and prayers are with Munich and everybody affected by the evil inflicted on this beautiful community. We’re thinking about you, we’re praying for you, and we will certainly be rooting for you in the days and weeks to come.
In a poll of 2009 Australians, conducted before the weekend’s disastrous White House event with Ukraine President Volodymyr Zelensky, 31% rated Trump the greatest threat to world peace, compared to Russian President Putin (27%) and Chinese President Xi (27%). 15% were unsure.
Almost half (49%) said they felt less secure since the election of President Trump. 17% feel more secure.
Respondents were asked if they thought Australian interests would be better served by a closer alliance with the United States or a more independent foreign policy.
44% said they’d prefer a more independent foreign policy. 35% would prefer a closer alliance with the United States.
The research also found:
56% of women feel less secure since the election of Donald Trump
53% of Baby Boomers, 51% of Gen Xers, 44% of Millennials and 45% of Gen Zers say they feel less secure since the election of Donald Trump
48% of Labor voters would prefer a more independent foreign policy, while 30% would prefer a closer alliance with the US. Among Coalition voters, 49% would prefer closer ties with the US and 34% would like a more independent foreign policy
“This is a potentially seismic shift in Australian thinking about America,” said Dr Emma Shortis, Director of the International & Security Affairs Program at The Australia Institute.
On this episode of After America, Dr Emma Shortis and Angus Blackman discuss the shocking public disintegration of relations between the United States and Ukraine, why many Australians are feeling less secure with Trump in office, and what that means for the future of the Australia-US alliance.
This discussion was recorded on Monday 3 March 2025 and things may have changed since recording.
Some commonly used “rules of thumb” produce very bad results
We all know and use rules of thumb. They’re handy for simplifying otherwise difficult problems and quickly making reasonably prudent decisions. We know that we should measure twice and cut once, that a stitch in time saves nine, and that we should allow a little extra following distance when the roads are slick. There’s a second, and related metaphor involving thumbs: “putting one’s thumb on the scale,” meaning to bias the results of a measurement by tipping the scale in one direction to achieve a desired outcome. That’s equally applicable to many of these rules of thumb: they exist and are crafted as they are to push decisions in a particular direction. That’s especially true for many commonly applied planning rules.
What purport to be “standards” in the worlds of transportation and land use are in many cases just elaborate rules of thumb. And while they might have made sense in some limited or original context, the cumulative effect of these rules is to tip the scales so that we have a transportation system which is by regulation, practice, and received wisdom, “all thumbs.”
Thank you so much for your interest in becoming a trustee of the Equality Trust – we are really excited to be growing our team as we continue our work to challenge concentrations of income, wealth and power so that everyone can have a good life. 2024 was a pivotal year for the Equality Trust, […]
This guide provides a clear introduction to Bluesky—its features, benefits, and how political movements can use it for outreach and organizing.
Whether you’re an individual, an organization, or a political party, this resource will help to establish a presence, build an audience, and navigate the platform with confidence.
Social media is in chaos right now and X is one of the most chaotic, not to mention its evolution to become a space more reminiscent of bedlam than a network of thriving online communities.
In this guide we give you an overview of the biggest alternative – Bluesky and some basics for how progressives, organisations and political parties can utilise it.
What is Bluesky
Bluesky is a social media app designed to be open and independent, rather than controlled by a single company. It runs on the AT Protocol, an open-source system that allows anyone to build and connect social apps.
It is a microblogging platform where users can share short text, video or images. It looks and feels very similar to Twitter.
Learn how to create an effective campaign plan with your group with this series of short videos from Friends of the Earth UK.
Are you planning a new campaign? STOP!
Your campaigning will be far more impactful if you create a strong and clear campaign strategy.
Follow this short video series, download the activity sheets and learn how to create a campaign plan with your group.
5 Key Questions
A lot of successful campaigns have been based on methodologies established by Marshal Ganz, a veteran US community and union organiser. His approach involves answering 5 key questions which we’re going to work through – with the help of some video tutorials – to help you develop your campaign.
The Health Equity Narrative Lab is a groundbreaking initiative designed to transform public perception of the need for health equity.
These guides provide storytelling and powerbuilding strategies to expand the choir and base of people supporting health equity.
About
Initiated by the Robert Wood Johnson Foundation and led by the BLIS Collective, in coordination with Story Strategy Group, the Lab developed an innovative narrative tool designed to help organizations, advocates, and funders inspire action to shift cultural perceptions around health in the United States. At the heart of this work is the Health Equity Narrative House, a comprehensive schematic that guides storytelling and powerbuilding strategies.
The Health Equity Narrative House
The purpose of the Narrative House is to provide an understanding of the narratives we need to disrupt, amplify, create, and organize around in order to build an environment and society where achieving health equity is possible.
The Narrative House is a schematic that can be used for framing, storytelling, organizing, and grantmaking.
This is a longer post than my usual, due to the significance and intricacy of its topic. On March 1, 2025, Judge Amy Berman Jackson of the District Court of the District of Columbia issued a critically important opinion. Jackson ruled on the merits of a Trump administration challenge to the statute creating the Office of Special Counsel (OSC). She decided that the statute is constitutional and that Trump's effort to fire the head of OSC was wholly unlawful. She issued a permanent injunction requiring executive branch officers and staff to respect the authority of the current Special Counsel, Hampton Dellinger, and to refrain entirely from interfering with his performance of his job. Because Jackson ruled on the merits and granted immediate equitable relief to Dellinger, the case is very likely to swiftly reach the U.S. Supreme Court. The defendants, Trump administration officials, have already given notice that they will appeal Jackson's decision and order to the D.C. Circuit, the intermediate appellate court between the District and Supreme Courts. The litigation and the issues it presents are a major battleground in the war to save U.S. constitutional democracy from dictatorship.
On this bonus episode of Follow the Money, Walkley Award-winning journalist Stephen Long speaks to three young climate advocates about the impact of climate change in Tuvalu and Kiribati, their dismay at the continued expansion of fossil fuels by Australia and other developed nations, and how they are fighting for the future of their societies.
Subscribe to Between the Lines, the Australia Institute’s fortnightly newsletter.
Universities: dead, buried and cremated? Geoff Davies In the late nineties, the management of the Australian National University was attacking its academic staff. That may…
Building humane alternatives to homo economicus Asad Zaman Introduction: As discussed in my recent article on self-knowledge as the key to understanding society (see ERA…
Superannuation is complicated A guaranteed government income in retirement would be simpler – Brendan Coates and Joey Moloney Stress prompts many to under-spend superannuation For…
Fatal Flaws in Interstate Bridge Project Traffic Modeling
The traffic modeling used to justify the proposed $7.5 billion Interstate Bridge Replacement (IBR) project is deeply flawed and leads to an inflated claim of need for the project, potentially causing significant environmental and financial harm.
Trade isn’t money for nothing Stephanie Kelton On 16 December 2024, the president-elect Donald Trump returned to a familiar grievance: accusing our trading partners of…
Busting the ‘natural rate of unemployment’ myth Lars Syll Sixty years ago Milton Friedman wrote an (in)famous article arguing that (1) the natural rate of…
The Coalition’s recent statements committing to “prioritise supply to the domestic market” is welcome recognition that gas exports are hurting Australians.
“The government can achieve this tomorrow by capping exports. It is not complicated,” said Richard Denniss, Executive Director at The Australia Institute.
“We have provided certainty of supply and price to the Chinese market for decades, while ripping off customers at home.”
Australia is one of the largest exporters of gas in the world. There is no shortage of gas in Australia, as highlighted in the Coalition’s recent statements.
Multinational gas export corporations already export 80 per cent of Australia’s gas and control almost all of Australia’s gas reserves.
One particularly powerful obstacle that has quickly materialized against the Trump Administration is the federal judiciary. Lawsuits challenging Trump’s flurry of executive orders have been filed, and federal judges have begun placing temporary injunctions on the president’s EOs.
For example, U.S. District Judge for D.C. Royce Lamberth issued a restraining order that bars the implementation of President Trump’s EO that transgender prison inmates be housed in prisons corresponding to their biological sex. Two days later in Washington State, U.S. District Judge John Coughenour placed a hold on the president’s EO that refuses to interpret the 14th Amendment as automatically granting birthright citizenship to children born to non-citizens temporarily residing in the U.S., either legally or illegally.
As global governance initiatives convene towards creating safety nets that proactively identify, prevent and mitigate risks around digital public infrastructure, there is an increased need to make transparent how DPI embodies the normative values it is postulated to have. Measurement is the first step in this process.
We are guided by the belief that effective measurement practices are an essential part of ensuring that DPI initiatives foster sustainable, equitable, and inclusive economic growth. By developing robust and comprehensive measurement frameworks and tools, we can better understand the impact of DPI and identify areas where interventions are needed to maximize its benefits for all members of society. To achieve this, we are excited to announce the formation of a new Community of Practice (CoP) focused on DPI measurement. This CoP will bring together experts, practitioners, and stakeholders from around the world to share knowledge, develop best practices, and advance the field of DPI measurement.
The CoP will initially focus on the following areas:
It’s been 18 months since the University College London Institute for Innovation and Public Purpose (IPP) and Bloomberg Philanthropies started developing the Public Sector Capabilities Index. Over this time, we have benefited from the insights, experience and expertise of 20 city governments in 11 countries, conducting over 60 qualitative interviews, as well as dozens of conversations with a wide range of city government experts and practitioners. As we embark on testing how we assess dynamic capabilities, we reflect upon what we have learned, what we are doing now, and what we still need to do.
