Should The Australian Government Privatise Medibank?

1855 WordsSep 3, 20148 Pages
Should the Australian Government privatise Medibank? Discuss, drawing upon news media reports and the concepts taught in this unit. Medibank was established by the Australian Government in 1976 and is Australia’s largest health insurance and a leading healthcare service provider. Though, Medibank has been stable in the economy, the reforms to privatise the insurance company has been reported for a number of years. In November 2013, The Australian Government had announced that it will proceed with the sale of Medibank. Thus, Medibank welcomes the Government’s announcement and they see this is as great opportunity for the business and the customers. It is assumed that subject to market conditions, Medibank Private will be sold through an initial public offering in the 2014-15 financial years (Medibank). While Medibank has been operating as a commercial business for some time, it is believed the sale will promote more competition within the private health insurance industry, ultimately driving better value and health outcomes for all Australians (Medibank). Provided, with the learnings achieved in this government business relations unit, this essay will draw upon the debates and media news reports on privatisation of Medibank and argue the perspective that the government should not privatise Medibank. Earlier in 2006, the Howard government was set to raise at least $1 billion by selling off Medibank Private. (The Lamp 2006, p.8) stated that, “Former Finance Minister Nick

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