It’s being called the biggest health shake-up in decades.

And the main aim getting young people to take up health insurance.

James Ives reports.

TRANSCRIPT

People from 18 to 29 years olds are leaving health insurance in droves.

That’s due to the cost.

Since 2010, premiums have risen an average 5.6 per cent every year.

The Health Minister believes the shakeup will see cheaper premiums, for everyone.

Greg Hunt, Health Minister: “Most importantly for pensioners, for lower income families, for young people, it’s about reducing pressures on prices.”

Among the key government reforms: simplicity in policy categories, so people understand what they are – and aren’t – covered for.

More affordable and accessible mental health services.

And young people will be offered two per cent discount a year on premiums, over five years.

Malcolm Turnbull, Prime Minister: “Up to a 10 per cent discount will be very compelling.”

The funding for lower premiums?

That will come from cheaper prosthetics and cardiac devices worth about a billion dollars over the next four years.

James Ives, QUT News.