Medibank Private Limited (ASX:MPL) has announced the additional information regarding its full-year 2020 outlook which was released to the market on 22 August 2019 in full-year FY 2019 results.
The company has confirmed that it has experienced higher than expected claims which has resulted in a $21 million under provision from 30 June 2019 claim reserve.
The claims are driven by the number of factors such as higher private hospital payments reflecting an increase in average benefit size along with the continuation of elevated prosthesis costs.
The company expect management expense to be approximately $545 million for FY 2020 and is confident of achieving the milestone to stabilise Medibank brand policyholder volume by the end of FY 2020 and grow in FY 2021.
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