Health insurance premiums may be going up, but the bad news doesn’t stop there for customers of at least two big funds, with confirmation their benefits will also be cut.

Both Bupa and HBF customers are set to see big changes to their hospital or basics cover.

Former chief executive of the Private Health Insurance Administration Council, Shaun Gath told Mornings with Gareth Parker, the changes can be traced to a wider shakeup of the industry.

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