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Our free health insurance comparison provides access to hundreds of policies and policy combinations from trusted Australian health funds. Our aim is to get you better value cover and reduce your premiums to minimise the impact of the 2017 rate rise.

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About the Rate Rise

Each year on the 1st of April, health funds raise their premiums. This is to support the increasing cost of health services and while not all of the costs are passed on to members, some are.

This year, the lowest average rate increase is 2.98% and the highest 8.53% while the average cost of health insurance across the country will go up by 4.84%.

  • If you haven't reviewed your cover in the last 12 months, or your health needs have changed; now is a great time to understand what you are paying for, and what value it brings. Given the enormous breadth of policies available today, there may now be a more suitable product in the market for you, that may also save you money.
  • If you are happy with your current cover or choose to change before mid March, you may be able to pay 12 months in advance to lock in the current premiums.


When does the rate rise happen?

The increase usually takes effect on 1 April each year.

How much have health insurance premiums increased in the past?

Over the last 8 years, average health insurance premiums have increased a total of 54.6%, this year the average premium rate rise will be 4.84%.

2015 data is a sample of Choosewell's customer base. Data for years 2010 - 2014 and 2016 is the 2015 data with each previous year's average premium increase applied to reflect premium grown for the period 2010 - 2015 and 2016 - 2017. The data does not include any reduction to the Australian Government Rebate on private health insurance - which also adds to higher premium payments.

Why do health insurance premiums increase each year?

When the cost of health care services increase, health insurers must increase their benefits to keep you covered. And because we’re living longer, we’re claiming for more services over a longer period. These higher benefit payouts help push premiums up. Learn more.

How is the health insurance rate rise governed?

The Private Health Insurance Act 2007 requires health funds to submit details of proposed premium increases to the Minister for Health before they can increase premiums on any of their policies. Funds must provide detailed financial information as well as cost and benefit projections to justify their proposed premium increase. Learn more.

How do I know if my health fund has increased their health insurance premiums?

Your health fund must notify you in writing during March if your premium will be increasing from 1 April.

How significant are the rate rises and how are they affecting my premium?

It's dependent on your financial situation and whether you’re comfortable paying a higher premium for the same policy. For example - If you took out a family policy in January 2014 with annual repayments of $2,800 and your payments increased by the average 6.2% in April 2014, you’d then be paying $2,973 for the same cover.

If you stayed on the same cover and your payments increased by the average 6.18% in 2015 then you’d be paying $3,157. In 2016 the average increase was 5.59%, taking annual repayments from $2,800 in 2014 to $3,333 in 2016. In 2017 the average price for health insurance will increase by 4.84% taking this total to $3494. That’s a total increase of $694 for the same cover over four years. With increasing competition in the health insurance industry it’s possible that you could now find better value cover at a more competitive price.

Need help? Organise a call back and talk to an expert.

What are my options?

Understanding the complexities of private health insurance as well as the rate rise can be confusing and extremely time consuming. With thousands of products in the market it can be hard for you to find the cover that best suits your needs. With access to a number of leading funds and hundreds of health insurance policies, Choosewell can put your curiosity at ease by taking the hassle out of your search (we’ll do the running around for you).

Have a question about the impending health insurance rate rise or need help submitting your information? Give us a call on 1300 421 154 or organise a call back.

About Choosewell

Choosewell is rated 5/5 on,
based on 122 reviews.

Choosewell is an Australian health insurance comparison service based in Melbourne, Victoria. Our experienced team of 60 health insurance advisors save you time, money and hassle by helping you compare a selection of appropriate health insurance policies. We work with a wide range of trusted health funds to give our customers real choice and great value.

We do all the work for you and don't charge you a cent. All it takes is a conversation with one of our dedicated advisors to find you the best fit policy at the right price.

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