Insurance Technology Industry News
[November 14, 2012]
Disability insurance faces $7bn blowout
Nov 14, 2012 (The Australian - ABIX via COMTEX) -- A Centre for Independent Studies (CIS) report indicates that Australia's National Disability Insurance Scheme is likely to exceed its budget. According to the report, the projected cost of supporting 441,000 people is likely to reach $A22bn a year. The Productivity Commission's estimate of the scheme's cost was $A15bn. CIS analyst Andrew Barker says the difference in cost is largely due to the fact that the Productivity Commission's costings are based on current prices, rather than the higher costs that will be in place when the scheme commences in 2018.
Publication Date: 15 November 2012 AUSTRALIA. PRODUCTIVITY COMMISSION THE CENTRE FOR INDEPENDENT STUDIES LIMITED AUSTRALIA. DEPT OF THE TREASURY. AUSTRALIAN GOVERNMENT ACTUARY
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