Profit has soared at Australia's biggest private health insurer Medibank Private, thanks to premium rises and a crackdown on improper health insurance claims. Medibank, which has around 3.9 million members, booked a 58 per jump in net profit to $227.6 million for the six months ended December 31, thanks to a government approved premium rate rise of 6.59 per cent. The result was also boosted by a $23.2 million one-off tax benefit from the Australian Tax Office.
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