, Australia

Aussie PM frets about sustainability of disability insurance scheme

The growth in payment per participant was due to inconsistent information, he said.

Australian Prime Minister Scott Morrison has expressed concerns about the sustainability of the National Disability Insurance Scheme (NDIS) as wage bills and costs increase more than expected, according to media reports.

The growing number of participants had grown over the past three years, with 530,000 more people expected to join in the coming years. The average payment per participant has also jumped 12.5% per year, he said, and the average plan budget has increased 22% over the same time.

The growth in payment per participant was the result of planners lacking access to consistent information when making their funding decisions, Morrison added, as well as unclear instructions on what is and what isn’t paid under the NDIS.

Scheme growth beyond earlier forecasts is a cost to the Commonwealth as contributions and growth are fixed for the states and territories on full scheme agreements, he said.

The government is considering a number of actions, such as independent participant assessments to re-evaluate their eligibility for the scheme and the support they receive, in order to reduce increasing costs.


Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Insurance Asia in your inbox
The training market is adjusting through rehashing their portfolios.
Premium growth was driven by the low base effect plus growth in the health segment.
Training programmes are being offered especially on entry-level skills.
This is to ensure that troubled financial institutions won't end up needing costly bailouts.
The academy helps financial professionals accelerate their careers.
It is expected to post a 3-4.5% marginaL ROE due to investment income.
Hong Kong citizens who have received at least one vaccine dose can join.
Pandemic-induced mortality losses will remain small.
It will require project owners and operators to compensate environmental damages.
Long-term insurance revenue premiums declined 5.2%.
The 12.5% jump in cover shows good value amidst a challenging market, it said.
Singapore's GIC led the funding, investing $182m (INR6b).
The upper illustration rate will be capped at 4.25% p.a. and the lower rate at 3% p.a.
Only Dai-ichi Life posted higher core profit.
Ten insurers have invested in 47 community care projects.