A PYMNTS Company

Australia: ACCC accuses health insurer of misleading customers

By  |  May 30, 2017

The competition regulator has launched Federal Court action against private health insurer NIB, alleging it misled customers by not informing them of changes in their coverage.

The Australian Competition and Consumer Commission said that, between June 2011 and October 2016, NIB represented to members that several of its policies covered eye procedures and members would not pay any out-of-pocket expenses.

The ACCC alleges members did in fact incur out-of-pocket costs and that NIB also failed to notify members of its decision to remove certain eye procedures from its MediGap Scheme in 2015.

“Consumers have a right to be informed of important changes to their insurance cover in advance, as these changes can result in very large financial consequences at a time when consumers are at their most vulnerable,” ACCC chairman Rod Sims told the ABC.

Full Content: The Australian

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.