Health fund members forked out more than half-a-million dollars for an all-expenses paid European trip complete with luxurious dinners and return business flights.
Many of Australia’s leading health fund CEOs and board members from Medibank, NIB, HCF and HBF and about four smaller health funds embarked on a prestigious conference to Portugal last month.
The International Federation of Health Plans Conference was held in Lisbon where 40 Australian delegates attended, triple the number from the U.S, costing about $15,000 per person.
Health fund members forked out more than half-a-million dollars of an all-expenses paid European trip complete with luxurious dinners (Sud pictured) and return business flights
Police Health CEO Scott Williams (pictured) was one of the delegates attending the event
Fund members paid $600,000 to send the health fund chiefs across the globe to the elite trip meanwhile yearly premium inflation doubled for their members, according to Daily Telegraph.
The exclusive trip, aimed at building networks and new partnerships, included $12,000 return business class flights, dinner at Sud and Pateo da Gale restaurants as well as five-star accommodation and a river cruise of Tagus.
‘The program is complemented with a strong evening social program for those attending and their partners, providing an informal environment for building networks and forging relationships,’ the IFHPC website reads.
Many of the CEOs and board members shared snaps of the trip on social media, where some backed up the conference with European summer family holidays.
Many of Australia’s leading health fund CEOs and board members from Medibank, NIB, HCF and HBF and about four smaller health funds flew business class (pictured) to the conference
Meanwhile, health fund members were hit with an extra $200 addition to yearly fees.
Across the country, families are collectively spending an extra $1 billion a year to cover increasing private health care fees.
Medibank recorded increases on at least one of their policies with increases of up to six per cent in some states while HBF was one of the funds which raised their fees by about three per cent and cut benefits.
Fund members paid $600,000 to send the health fund chiefs across the globe to the elite trip (pictured Four Seasons Hotel Ritz) as yearly premium inflation doubled for their members
Defence Health CEO Gerard Fogarty shared photos of himself (pictured) at the conference which cost health fund members hundreds of thousands of dollars collectively
NIB rates increased by almost four per cent this year while HCF increased by more than five per cent annually.
HBF chief John Van Der Wielen told News Corp the company made a ‘conscious decision’ to send seven board members to the conference, costing $100,000, in order to learn about streamlining costs.
The four-day event, which ran from June 24 to 27, featured an international board of speakers discussing the latest innovations in health from cancer treatments to start-ups.
Meanwhile, health fund members were hit with an extra $200 addition to yearly fees as funds like Medibank (CEO Craig Drummond pictured) increased fees of up to six per cent
Australia attended the annual event (conference pictured) in full force where the country’s representatives were three times larger than the U.S
Mr Fogarty shared photos of his ‘lunch’ (right) online while Mr Williams shared his view of the river cruise of Tagus in Portugal (left)