Health insurers to submit official 2026 price hikes: are you still getting value?
Health insurers are preparing to submit their proposed premium changes on Wednesday to Federal Health Minister, Mark Butler.
According to new data from Money.com.au, next year's premium hike will align with health inflation for the first time in 5 years.
That means more than half of the population (13.6 million) will see a big difference in their private health insurance premium.
Health insurance premiums increased by an industry average of 3.73% this year.
Increases in wages and private hospital costs are said to be the key drivers of the price hike.
Should these proposed premium changes be approved, Australians won't see the result until early next year.
However, there may be some hope for private health customers bracing their wallets, as Butler says he expects insurers to make "more strenuous efforts" to up the value of their policies come 2026.
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Rising premiums doesn't have to mean higher costs
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