Public and Private Insurance in Australia
Providing adequate health coverage for citizens and resident workers is a problem that many developed nations share. As life expectancy continues to increase and the incidence of chronic disease continues to grow, the burden on many public healthcare systems may become untenable. Many private systems are not faring much better. The private system in the United States has become so expensive and left so many opting not to purchase coverage, that the Affordable Healthcare Act was passed in an attempt to extend universal coverage.
As world populations continue to grow, the problem may only grow worse. The percentage of GDP that goes to cover healthcare costs is increasing around the globe. The stagnation in the world economy has only served to exacerbate the problem.
While Australia’s situation is less dire than that of some other developed nations, but the debate here rages on nonetheless. Decisions made over the next few years are likely to have far-reaching consequences extended into the second half of the century.