New data from the Australian Prudential Regulation Authority has highlighted the need for a government inquiry into the private health system, after the published numbers confirm a mass exodus of young people abandoning health insurance.

The Private Health Insurance Annual Coverage Survey report shows that in 2018 those aged 25 to 29 abandoned private health insurance at a rate of 6.9 per cent, while those aged 90 to 94 increased their insurance coverage by 8.8 per cent.

It could not be clearer that young people feel they are not getting value for money and a government root and branch inquiry is necessary to understand these issues.

Despite recently claiming the Government had accomplished the most significant reforms to the private health system, this week Minister Hunt spruiked a seemingly non-existent review into private health insurance, while under his Liberal Government premiums have risen by 30 per cent.

The Minister for Health must take this APRA data as a warning sign and adopt Labors Productivity Commission inquiry into the sector.

This Liberal Government needs to urgently address health concerns for all Australians, because under their watch out of pocket costs have never been higher, and waiting lists have never been longer.