Cost of health insurance will rise 3.7% on 1 April 

Health insurance will increase by an average of 3.7% in April – the highest premium increase since 2018.  

Every year health insurers are allowed to raise their premiums only once. This year, Minister of Health Mark Butler rejected insurers’ proposed increases (reportedly up to 6%) at least twice before agreeing on an average premium increase of 3.7% – slightly higher than last year’s increase of 3.03%.  

The amount of the increase differs across policies, but nib’s average increase of 5.79% makes it the highest among open health insurers, followed by Bupa at 5.10% and HCF at 4.95%. Those in NSW may experience even higher increases due to recent changes negotiated by the state government for fees for public hospital stays.

The new prices begin on 1 April 2025, which means health insurance customers have just over four weeks to look for a new policy if they’re unhappy with their policy’s price increase.  

Read more about the premium increase in the Australian Financial Review.

Check your insurer’s price increase against other insurers.

Want to compare the cost of your policy with others on the market? The healthslips.com.au Calculator searches every policy available – try it here.  

Trudie McConnochie

Writer and Researcher

Knowledge is power – that’s the guiding principle behind everything Trudie writes, and it’s a philosophy she brings to her work at healthslips.com.au. By breaking down complex information into easy-to-understand blogs and stories, she aims to empower Australians to make the best choices and an informed decision around private health insurance.

Trudie understands firsthand some of the complexity of private health insurance having moved to Australia from New Zealand and having to navigate a vastly different public healthcare system and health insurance structure.

Trudie holds a Bachelor of Communication Studies (journalism major) from the Auckland University of Technology.

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