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List of historical premium price changes by insurer for 2024
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This publication provides the average annual price changes in private health insurance premiums from 1997 to 2024, for each insurer and the industry.
The average premium change for each insurer and the industry, which will apply from 1 April 2024, is provided above.
While the figures represent the average premium price change, this is not indicative of what every policy holder may experience. Some products may be offered with either a lower or a higher price change when compared to the industry or their insurer’s average. Insurers must inform their members in writing of the exact premium price change for their particular policy.
The Australian Government provides around $7.3 billion annually to support policy holders with the price of their private health insurance premiums. Each year the rebate is adjusted following the release of the December quarter Consumer Price Index figures by the Australian Bureau of Statistics in late January. The release of this figure combined with the final approval of premium changes by the minister is necessary before insurers can provide definitive information to their policy holders regarding changes to premium levels until February or March, for effect from 1 April.
For information on the process and formula used to calculate the change in private health insurance premiums – see the Apply to increase private health insurance premiums page.