Australian Health Insurers Report Record High Hospital Claims in 2024

In the 12-month period ending December 2024, Australian health insurers paid out approximately A$9.4 billion (US$6.15 billion) in total health benefits, with a record 453,259 high claims surpassing A$10,000 each. These high claims constituted over half (50.4%) of all hospital benefits paid, reflecting increased hospital care complexity and costs. The majority of these high claims, about 62.4%, ranged from A$10,000 to A$20,000, while those exceeding A$200,000 were rare, representing only 0.03% of claims. The single largest claim paid was nearly A$700,000 for a mitral valve replacement surgery, underscoring the significant financial impact of severe medical procedures on private health insurance.