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Medibank began as an Australian Government private health insurance scheme, established by the Whitlam government in 1975 through the Health Insurance Commission. [4] In its original form, it was a universal health insurance programme funded through taxation, that also ensured free treatment at public hospitals and provided subsidies to private hospitals.
The largest private health fund by premium is Bupa, which is owned by Bupa UK, a not for profit entity. The next largest private health provider is Medibank Private, which was owned by the Government of Australia, but was privatised in 2014–15.
Australian health funds can be either 'for profit' including Bupa and nib; 'mutual' including Australian Unity; or 'non-profit' including GMHBA, HCF Health Insurance and CBHS Health Fund. Some have membership restricted to particular groups, some focus on specific regions – like HBF Health Fund which centres on Western Australia , but the ...
(Reuters) -Medibank Private Ltd, Australia's biggest health insurer, said on Wednesday a cyber hack had compromised data of all of its of its nearly 4 million customers, as it warned of a A$25 ...
Medibank shares had entered a trading halt pending the announcement of the cyber incident, and the health insurer confirmed it would remain closed for trading as it investigates the incident.
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