The Australian Medical Association wants a new regulator to oversee the private health system, control premium rises and drive reforms in the sector, warning that the industry is on the brink of becoming unsustainable.

Experts say the private health insurance industry is in a “death spiral” as young­er people abandon policies and older people take them out in greater numbers.

AMA president Omar Khorshid told 6PR Breakfast the public system was relying on the private sector for support amid unprecedented Covid-19 pressures, with private health insurers, private hospital CEOs and medical devices industry chiefs to meet in Canberra with the AMA for a summit on Thursday to discuss reform of the sector.

“”What we’re seeing is huge pressure on that private system due to the increased cost of premiums… we have got do something to keep the insurance accessible to the average Australian, so that they don’t end up languishing on our public hospital waiting lists,” he told host Mark Gibson, in for Gareth Parker.

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