/ 06 March 2024

The price you pay for health

health worker

Every year, the federal government reviews the price rises our private health insurers want to roll out. After initially knocking them back, the Albanese Government has agreed to an increase in premiums from 1 April. Health Minister Mark Butler says 15 million Aussies who hold private health insurance can expect an average increase of 3.3% to their bills, with NIB’s premiums to go up 4%. Its boss Mark Fitzgibbon says it’s due to “a rise in health and medical treatment costs” post-COVID. The 3.3% figure is the biggest private health increase in 5 years, but insurers say it’s lower than the industry’s 10-year average and lower than the 6% they requested… The Coalition has accused Labor of not announcing the rises until after the weekend’s Dunkley by-election, where cost-of-living was a big issue. If you want to see how your provider lines up, there’s a table outlining each insurer’s changes here.

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