Opposition leader Bill Shorten has vowed to impose a 2% limit on premium increases for private health insurance.

Mr Shorten said since the Coalition was elected, Australian families have been paying, on average, an extra $1,000 a year in premiums.

He now says, “the party’s over” for health insurance funds including NIB, Bupa and Medibank Private.

NIB Managing Director Mark Fitzgibbon tells Ross Greenwood they’ll “work even harder” to ensure they keep premiums down.

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