Private health insurance premiums are set to increase for the 14.7 million Australians currently covered. Health Minister Mark Butler announced the biggest hike in three years on Tuesday morning, with changes coming into effect on 1 April.
Private health insurance premiums are set to increase for the 14.7 million Australians currently covered. Health Minister Mark Butler announced the biggest hike in three years on Tuesday morning, with changes coming into effect on 1 April. Butler said the rise in private health insurance was below the annual rise in wages. "I wasn't prepared to just tick and flick the claims of health insurers, as the Opposition asked me to do," he said.
"I asked insurers to go back and sharpen their pencils and put forward a more reasonable offer for the 15 million Australians with private health insurance." So, by how much will private health insurance rise and how can you soften the cost-of-living hit? The federal government has approved an average industry premium rise of 3.03 per cent. The increase in 2024 is slightly higher than the rise of 2.9 per cent in 2023 and 2.7 per cent in 2022 and 2021. Canstar health insurance expert Steve Mickenbecker said the rise was significantly lower than in the pre-COVID period, when premiums went up between 4.5 to 6 per cent each yea
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