Health insurance premiums to rise 3.03% on 1 April 

Australians could be paying around 3.03% more for health insurance in 2024 after 1 April. 

The federal government has approved an average health insurance premium increase of 3.03% –but individual policies may rise or less, depending on the insurer.  

According to the ABC, the largest government-approved increases were 5.82% for CBHS Corporate Health, followed by 4.51% for CUA Health and 4.10% for NIB. Bupa and Medibank customers will also be hit with above-average increases of 3.61% and 3.31% respectively. 

Policyholders will be notified by their insurer about how much their policy premium will rise.   

The size of the average increase for 2024 is similar to that approved in the past six years, but much less than the 6% health insurers had initially applied for.  

Read the full ABC story. 

Find out the average increase for your insurer. 

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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