FULL ROUNDUP: 2017 health insurance premiums to rise by 4.84%

Richard Laycock 10 February 2017 NEWS

Lady sitting on couch looking at bills on coffee table

It's the lowest rise since 2010, but how much more will you be paying?

It's that time of the year again when we collectively wring our hands at how much more we will be paying for health insurance over the next 12 months.

In 2017, health insurance premiums will be going up by an industry weighted average of 4.84%, the lowest rise since 2010.

Of the "Big Four" health funds, HCF has the lowest average increase, raising its premiums by just 3.65%.

Shaun Larkin HCF managing director said, “HCF is unique among the major health funds – as a not-for-profit, we can sustainably operate on lower margins and put our members at the centre of all we do. This has allowed us to deliver our lowest rate in more than a decade to our members.”

NIB came in second with an increase of 4.48%, followed by Medibank (4.6%) and Bupa (4.9%). Bupa is the only insurer amongst the "Big Four" that is increasing its premiums by more than the industry average.

Outside of the big four, the restricted fund CBHS Corporate has the lowest average increase, with its premiums going up by just 2.98%. health.com.au has the largest premium rise in 2017, raising its average premium by a whopping 8.53%.

How do they compare year on year?

Below are the premium increases for each fund for 2017 and 2016.

Fund 2016 2017
ACA Health Benefits Fund 6.19% 4.70%
ahm Health Insurance (AHM) NA NA
Australian Unity Health Limited 5.05% 4.46%
Bupa Australia Pty Ltd 5.69% 4.90%
CBHS Corporate Health Fund Limited NA 2.98%
CBHS Health Fund Limited 5.92% 3.29%
CDH Benefits Fund 6.19% 6.57%
CUA Health Limited 8.95% 4.97%
Defence Health Limited 5.48% 5.51%
Doctors Health Fund 3.76% 3.54%
GMHBA Limited 5.44% 4.94%
Grand United Corporate Health 4.26% 4.11%
HBF Health Limited 4.94% 5.96%
Health Care Insurance Ltd 6.90% 6.06%
Health Insurance Fund of Australia Limited 6.55% 7.99%
Health Partners (SPS) 7.14% 5.10%
health.com.au 8.81% 8.53%
Healthguard Health Benefits Fund Ltd NA NA
HCF 5.42% 3.65%
Latrobe Health Services 5.52% 4.49%
Manchester Unity Australia Ltd NA NA
Medibank Private Limited 5.64% 4.60%
MBF Alliances Pty Ltd NA NA
MBF Australia Ltd NA NA
Mildura Health Fund (MDH) 6.74% 5.95%
National Health Benefits Australia Pty Ltd (onemedifund) (OMF) 5.28% 5.41%
Navy Health Ltd 5.50% 4.94%
NIB Health Funds Ltd. 5.55% 4.48%
Peoplecare Health Insurance 4.38% 5.09%
Phoenix Health Fund Limited 5.72% 5.93%
Police Health 4.81% 4.63%
Queensland Country Health Fund Ltd 4.91% 5.15%
Queensland Teachers’ Union Health Fund Ltd 7.15% 7.30%
Railway and Transport Health Fund Limited 5.61% 5.54%
Reserve Bank Health Society Ltd 5.37% 5.00%
St Lukes Health 5.89% 4.99%
Teachers Health Fund 4.97% 4.96%
Transport Health Pty Ltd 6.49% 4.93%
Westfund Limited 5.94% 4.96%

So how much will you end up paying? Below, we show the average monthly premium for each fund in Australia last year, and the amount that's expected to rise to in 2017. The table covers combined, hospital and extras cover. While your individual rate will vary, this gives a useful general overview.

Fund2016 average premium p/m2017 average premium p/m
ACA Health Benefits Fund$229.47$240.26
Australian Unity Health Limited$225.82$235.89
Bupa Australia Pty Ltd$389.74$408.84
CBHS Health Fund Limited$326.93$336.67
CDH Benefits Fund$238.30$253.96
CUA Health Limited$292.53$307.07
Defence Health Limited$268.40$283.19
Doctors Health Fund$420.80$435.70
GMHBA Limited$363.49$381.45
Grand United Corporate Health$276.54$287.91
HBF Health Limited$373.91$396.20
HCF$328.36$340.35
Health Care Insurance Limited$222.80$236.30
Health Partners (SPS)$507.21$533.08
health.com.au$313.81$340.58
Latrobe Health Services$179.25$187.30
Medibank Private Limited$356.38$372.77
Navy Health Ltd$262.40$275.36
NIB Health Funds Ltd.$392.24$409.81
Peoplecare Health Insurance$344.11$361.63
Phoenix Health Fund Limited$277.89$294.37
Police Health$480.54$502.79
Queensland Country Health Fund Ltd$290.53$305.49
Railway and Transport Health Fund Limited$297.82$314.32
Reserve Bank Health Society Ltd$479.67$503.65
St Lukes Health$390.85$410.35
Teachers Health Fund$373.99$392.54
Transport Health Pty Ltd$440.88$462.62
Westfund Limited$357.93$375.68
Fund2016 average premium p/m2017 average premium p/m
ACA Health Benefits Fund$233.70$244.68
Australian Unity Health Limited$246.35$257.34
Bupa Australia Pty Ltd$525.30$551.04
CBHS Health Fund Limited$355.33$365.92
CDH Benefits Fund$215.00$229.13
CUA Health Limited$394.34$413.94
Defence Health Limited$329.37$347.52
Doctors Health Fund$634.90$657.38
GMF Health$255.25$255.25
GMHBA Limited$414.44$434.91
Grand United Corporate Health$310.90$323.68
HBF Health Limited$557.60$590.83
HCF$471.50$488.71
Health Care Insurance Limited$219.65$232.96
Health Insurance Fund of Australia Limited$461.70$498.59
Health Partners (SPS)$388.53$408.35
health.com.au$451.58$490.10
Latrobe Health Services$435.10$454.64
Medibank Private Limited$618.50$646.95
Mildura Health Fund (MDH)$363.30$384.92
National Health Benefits Australia Pty Ltd (onemedifund) (OMF)$404.80$426.70
Navy Health Ltd$299.38$314.17
NIB Health Funds Ltd.$488.94$510.84
Peoplecare Health Insurance$429.30$451.15
Phoenix Health Fund Limited$314.01$332.63
Police Health$376.34$393.76
Queensland Country Health Fund Ltd$329.95$346.94
Railway and Transport Health Fund Limited$513.41$541.85
Reserve Bank Health Society Ltd$410.14$430.65
St Lukes Health$448.00$470.36
Teachers Health Fund$476.00$499.61
Transport Health Pty Ltd$469.96$493.13
Westfund Limited$487.15$511.31
If you want to save on your health insurance premiums this year, make sure you make the switch before 1 April to lock in your premiums at the 2016 rate. Get your own personalised quote below.

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