In 2011, at the height of the campaign against the Gillard government's proposed means-testing of the private health insurance rebate, consultants Deloitte released a report with dire predictions for the future of the industry. It claimed the new legislation would lead to 2.8 million Australians dropping their private health insurance over the next five years, with 554,000 going in the first year alone.

Nine months after the implementation of the means test, the data is in. Were the fears founded?