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Health insurance premium rates 2024

Health insurance premium rates will go up by an average of 3.03% this year.

What you need to know

  • The 3.03% health insurance premium increase is slightly higher than 2.9% in 2023.
  • Prices will go up on April 1.
  • You can avoid the increase if you transfer to a fund that is delaying its price increase. You can also pay upfront for a year with some funds.

How much will my health insurance go up in 2024?

Health insurance will go up by an industry average of 3.03%. Some policies will see a price jump as big as 5.82%.

If your provider is planning to significantly increase its premiums, now might be a good time to compare health insurance policies and switch to a more affordable one.

Average premium increases – how does your fund compare?

You can find out how much your provider plans to increase its premiums in the table below.

Health Fund2024 increase
ACA3.18%
AIA2.19%
Australian Unity1.42%
Bupa3.61%
CBHS Corporate5.82%
CBHS Health Fund4.51%
CUANo data
Defence Health1.00%
Doctors' Health2.79%
GMHBA2.91%
HBF Health3.95%
Health Care Insurance0.27%
HIF3.87%
Health Partners1.93%
Hospitals Contribution Fund2.89%
Hunter Health Insurance3.32%
Latrobe Health3.04%
Medibank (including ahm)3.31%
Mildura District Hospital Fund2.14%
National Health Benefits Australia3.41%
Navy Health3.10%
NIB4.10%
Peoplecare1.63%
Phoenix3.72%
Police Health3.01%
Queensland Country Health2.53%
Queensland Teachers' Union Health1.96%
Reserve Bank Health Society2.97%
St Luke's3.20%
Teachers Federation2.65%
Transport HealthNo data
Westfund2.82%

How much should you be paying?

You may not realise it, but health insurance prices can really vary between tiers. For example, we found a difference of over $300 a year between two policies on the same tier. That's why it's important to compare your options.

To give you a benchmark to compare your current health insurance, here are the cheapest Basic, Bronze, Silver, Gold and Extras policies from each tier from Finder Partners. Switch and save on your health fund policy today.

1 - 10 of 113
Name Product Treatments Price Apply
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$79.88
per month
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$81.90
per month
Basic Plus Hospital $750
Basic Plus$750 excess
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +6 other treatments covered
$82.21
per month
Frank Entry Hospital (Basic+)
Basic Plus$750 excess
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +5 other treatments covered
$82.48
per month
starter basic
Basic$750 excess
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$82.71
per month
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +5 other treatments covered
$83.46
per month
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$83.95
per month
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +5 other treatments covered
$85.23
per month
starter basic
Basic$500 excess
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$85.76
per month
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$85.82
per month
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Name Product Treatments Price Apply
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
  • +1 other treatments covered
$12.97
per month
HCF STARTER EXTRAS
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
  • +1 other treatments covered
$13.16
per month
black 50 saver
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
$14.17
per month
Value Extras
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
$15.11
per month
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
  • +1 other treatments covered
$17.42
per month
Basic Extras
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
$20.39
per month
Basic Extras
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
$24.26
per month
Basic Extras
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
$26.80
per month
Simple Extras
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
  • +1 other treatments covered
$28.24
per month
HCF FLEX MY EXTRAS
Extras cover
  • General Dental
  • Major Dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial Massage
  • Hearing aids
  • +1 other treatments covered
$29.33
per month
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All prices are based on a single individual with less than $93,000 income and living in Sydney.

Why compare health insurance with Finder?

  • We don't ask for your phone or email to see prices.

  • With 1 click, you can open your results to nearly every fund in Australia.

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Why does the cost of health insurance go up every year?

Health insurance is community rated. This means everybody pays the same price for the same policy, regardless of their age, health or how likely they are to lodge a claim.

For example, a healthy 30-year-old would pay the same as a chronically unwell 60-year-old – as long as they both had the same policy. It means that even if you're sick, injured or have a history of illness, you're not further disadvantaged by having to pay more for your health insurance.

However, the number of seniors in Australia is increasing, and because over-65s typically have higher healthcare costs, insurance companies are spending more money paying out claims.

Unfortunately, insurance companies aren't earning enough money from premiums to be able to comfortably cover the cost of claims. As a result, they have to raise their prices.

How much does health insurance increase every year?

Health insurance premiums increase by a different rate every year. The table below shows the annual averages since 2015.

Average increase (%)

Insurer2015201620172018201920202021202220232024
ACA Health Benefits Fund Limited4.96%6.19%4.70%2.72%3.23%3.94%3.54%2.59%3.92%3.18%
AIA Health InsuranceNo dataNo dataNo data3.90%4.45%5.63%1.62%2.80%1.69%2.19%
Australian Unity Health Limited6.26%5.05%4.46%3.89%3.35%2.79%1.99%2.73%3.76%1.42%
BUPA HI Pty Ltd5.59%5.69%4.90%3.99%2.99%3.26%3.21%3.18%3.39%3.61%
CBHS Corporate Health Pty LtdNo dataNo data2.98%2.38%3.68%2.37%5.47%5.33%5.38%5.82%
CBHS Health Fund Limited6.58%5.92%3.29%2.73%3.67%3.91%4.26%2.91%4.46%4.51%
CUA Health Limited6.35%8.95%4.97%3.29%4.19%3.99%2.99%No dataNo dataNo data
Defence Health Limited5.62%5.48%5.51%5.97%4.50%3.49%3.93%3.33%3.48%1.00%
Doctors' Health Fund Pty Ltd3.98%3.76%3.54%2.28%2.94%3.29%2.85%2.28%2.15%2.79%
GMHBA Limited6.43%5.44%4.94%4.34%3.31%3.34%3.24%3.10%2.33%2.91%
HBF Health Limited5.96%4.94%5.96%3.75%1.94%1.98%0.94%3.62%4.49%3.95%
Health Care Insurance Ltd6.12%6.90%6.06%8.90%5.53%3.75%2.91%1.09%-0.09%0.27%
Health Insurance Fund of Australia Limited4.49%6.55%7.99%5.35%4.77%5.58%3.78%3.20%3.10%3.87%
Health Partners Limited5.76%7.14%5.10%3.95%3.18%2.77%3.35%3.15%2.93%1.93%
health.com.au Pty Ltd6.81%8.81%8.53%5.87%3.96%3.94%0.83%No dataNo dataNo data
Hospitals Contribution Fund of Australia Ltd6.57%5.42%3.65%3.39%3.20%3.39%2.95%2.72%3.33%2.89%
Hunter Health Insurance6.99%6.19%6.57%6.40%3.90%3.96%4.14%3.77%3.93%3.32%
Latrobe Health Services Limited6.15%5.52%4.49%4.25%3.85%3.49%3.42%3.41%2.15%3.04%
Medibank Private Limited6.59%5.64%4.60%3.88%3.30%3.27%3.25%3.10%2.96%3.31%
Mildura District Hospital Fund Ltd6.14%6.74%5.95%5.68%3.89%4.68%4.07%2.90%2.48%2.14%
National Health Benefits Australia Pty Ltd6.26%5.28%5.41%3.97%3.62%2.99%3.56%3.24%2.86%3.41%
Navy Health Ltd4.50%5.50%4.94%3.94%4.94%3.49%3.46%3.25%2.94%3.10%
NIB Health Funds Ltd6.55%5.55%4.48%3.93%3.38%2.90%4.36%2.66%2.72%4.10%
Nurses & Midwives Health Pty LtdNo dataNo dataNo data3.22%5.91%3.74%3.38%No dataNo dataNo data
Peoplecare Health Limited6.08%4.38%5.09%4.19%4.90%3.48%3.90%3.27%2.79%1.63%
Phoenix Health Fund Limited6.48%5.72%5.93%4.19%3.26%3.10%3.47%3.16%3.72%3.72%
Police Health Limited4.48%4.81%4.63%3.72%3.58%3.14%3.10%1.79%0.00%3.01%
Queensland Country Health Fund Ltd4.77%4.91%5.15%4.39%3.95%3.56%4.43%3.34%3.17%2.53%
Queensland Teachers' Union Health Fund Limited6.36%7.15%7.30%4.40%3.18%2.66%1.11%2.26%0.81%1.96%
Railway & Transport Health Fund Ltd6.17%5.61%5.54%4.47%3.36%2.91%3.19%No dataNo dataNo data
Reserve Bank Health Society Ltd4.88%5.37%5.00%3.97%3.73%3.08%3.74%3.74%3.18%2.97%
St Luke's Medical and Hospital Benefits Association6.27%5.89%4.99%4.23%3.56%2.90%0.5%3.19%2.86%3.20%
Teachers Federation Health Ltd6.86%4.97%4.96%2.84%3.94%3.24%2.88%2.17%2.50%2.65%
Transport Health Pty Ltd4.84%6.49%4.93%5.16%3.41%2.59%2.61%1.16%2.49%No data
Westfund Limited7.92%5.94%4.96%3.43%1.64%4.32%4.30%2.40%2.65%2.82%
Industry Weighted Average6.18%5.59%4.84%3.95%3.25%2.92%2.74%2.70%2.90%3.03%

How will I know if my premiums are increasing?

Your health fund won't increase the price of your policy without letting you know, so expect a letter or an email notifying you about any changes.

From there, it's worth checking the updated policy information, so you can make an informed decision about what to do next.

What should I do if the price of my health insurance is going up?

If you don't do anything, it's highly likely that the cost of your health insurance will go up on 1 April. However, you may be able to save money if you compare providers and switch to a policy that suits you better.

Here are some handy tips to consider, which could save you money:

  • Change tiers. Hospital cover comes in four tiers: basic, bronze, silver and gold. Dropping down a level could save you money, but you'll get fewer overall benefits.
  • Look for discounts. Young Australians can save up to 10% on their hospital insurance, so if you're between 18 and 29, be sure to ask your insurance company how they can help.
  • Compare policies. Finder's online tool lets you compare health insurance policies side by side, so you can see what benefits you're getting and for how much.
  • Switch and save. Don't pay for the benefits you're not using. If you can get the cover you need elsewhere, for a price you're happy to pay, consider switching health insurance policies. Remember, if you switch from one health fund to another, you won't have to serve your hospital waiting periods again. For your extras, contact the insurer directly to check.
  • Pay in advance. If you want to avoid this year's premium increase, pay in advance before 1 April and you'll still get your policy for last year's prices. Some insurers will also give you an additional discount if you set up a direct debit or pay for your policy in a lump sum.
  • Avoid tax. The Medicare levy surcharge is a tax of between 1% and 1.5% of your income. Anyone who earns over $93,000 and doesn't have an approved level of hospital cover has to pay it. However, if you take out hospital insurance, you won't have to pay it.
  • Avoid lifetime loading. Lifetime health cover loading is an extra levy that is applied to health insurance policies if you only take one out over the age of 31. It's designed to encourage young people to buy health insurance – if you don't, you'll end up paying more for your premiums down the line.

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