72% rise in elective surgery out-of-pocket costs due to increased early super withdrawals for medical treatments.
A record number of Australians are withdrawing their superannuation early for medical treatments, causing a 72% rise in out-of-pocket costs for elective surgeries, significantly outpacing the 14% health inflation rate. Private Health Australia urges the government to limit early access to super for only terminal conditions and mandate multiple quotes and second opinions. Concerns are growing over medical professionals and financial brokers encouraging this trend, prompting calls for regulatory action.
September 22, 2024
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