Health insurance premium rates 2024

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

Who is this cover for?

Key takeaways

  • 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 Fund
2024 increase
ACA
3.18%
AIA
2.19%
Australian Unity
1.42%
Bupa
3.61%
CBHS Corporate
5.82%
CBHS Health Fund
4.51%
CUA
No data
Defence Health
1.00%
Doctors' Health
2.79%
GMHBA
2.91%
HBF Health
3.95%
Health Care Insurance
0.27%
HIF
3.87%
Health Partners
1.93%
HCF
2.89%
Hunter Health Insurance
3.32%
Latrobe Health
3.04%
Medibank (including ahm)
3.31%
Mildura District Hospital Fund
2.14%
National Health Benefits Australia
3.41%
Navy Health
3.10%
NIB
4.10%
Peoplecare
1.63%
Phoenix
3.72%
Police Health
3.01%
Queensland Country Health
2.53%
Queensland Teachers' Union Health
1.96%
Reserve Bank Health Society
2.97%
St Luke's
3.20%
Teachers Federation
2.65%
Transport Health
No data
Westfund
2.82%

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 101
Name Product AUFHI-NEW Treatments Price Apply
Frank Health Insurance logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$77.65
per month
Go to Site
All treatments
Bupa HI Pty Ltd logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$77.92
per month
Go to Site
All treatments
HCF logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +4 other treatments covered
$78.78
per month
Go to Site
All treatments
Frank Entry Hospital (Basic+)
Basic Plus$750 excess
Frank Health Insurance logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +1 other treatments covered
$82.48
per month
Go to Site
All treatments
starter basic
Basic$750 excess
ahm health insurance logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$82.71
per month
Go to Site
All treatments
Bupa HI Pty Ltd logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$82.78
per month
Go to Site
All treatments
HBF Health Limited logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +1 other treatments covered
$83.46
per month
Go to Site
All treatments
HCF logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +4 other treatments covered
$83.60
per month
Go to Site
All treatments
GMHBA Limited logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
$83.95
per month
Go to Site
All treatments
Bupa HI Pty Ltd logo
  • Rehabilitation
  • Joint reconstructions
  • Dental surgery
  • Hernia and appendix
  • Eye excluding cataracts
  • Pain management
  • Gynaecology
  • Lung and chest
  • +3 other treatments covered
$84.51
per month
Go to Site
All treatments
loading
1 - 10 of 51
Name Product AUFHI-NEW Treatments Price Apply
ahm health insurance logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +1 other treatments covered
Get up to 8 weeks free. For new joins who maintain eligible Extras cover. T&Cs apply. Learn more.
$12.97
per month
Go to Site
All treatments
HCF STARTER EXTRAS
Extras cover
HCF logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +1 other treatments covered
$13.16
per month
Go to Site
All treatments
black 50 saver
Extras cover
ahm health insurance logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
Get up to 8 weeks free. For new joins who maintain eligible Extras cover. T&Cs apply. Learn more.
$14.17
per month
Go to Site
All treatments
Freedom 50
Extras cover
Bupa HI Pty Ltd logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
$15.08
per month
Go to Site
All treatments
HCF logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +1 other treatments covered
$17.42
per month
Go to Site
All treatments
Basic Extras
Extras cover
HBF Health Limited logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
$20.39
per month
Go to Site
All treatments
Starter Extras
Extras cover
Bupa HI Pty Ltd logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
$24.28
per month
Go to Site
All treatments
Medibank Private Limited logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +3 other treatments covered
Want 6 weeks free + a $50 gift card when you join & maintain eligible Extras? Plus, get 2&6 month waits waived. New members only. T&Cs apply. Excludes Healthy Living Extras.
$27.82
per month
Go to Site
All treatments
Medibank Private Limited logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +2 other treatments covered
Want 6 weeks free + a $50 gift card when you join & maintain eligible Extras? Plus, get 2&6 month waits waived. New members only. T&Cs apply. Excludes Healthy Living Extras.
$27.86
per month
Go to Site
All treatments
HCF FLEX MY EXTRAS
Extras cover
HCF logo
  • General dental
  • Major dental
  • Optical
  • Physiotherapy
  • Chiropractic
  • Psychology
  • Remedial massage
  • Hearing aids
  • +1 other treatments covered
$29.33
per month
Go to Site
All treatments
loading
All prices are based on a single individual with less than $97,000 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.

  • You pay the same price as going direct – we charge no fees.

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 (%)

Insurer
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ACA Health Benefits Fund Limited
4.96%
6.19%
4.70%
2.72%
3.23%
3.94%
3.54%
2.59%
3.92%
3.18%
AIA Health Insurance
No data
No data
No data
3.90%
4.45%
5.63%
1.62%
2.80%
1.69%
2.19%
Australian Unity Health Limited
6.26%
5.05%
4.46%
3.89%
3.35%
2.79%
1.99%
2.73%
3.76%
1.42%
BUPA HI Pty Ltd
5.59%
5.69%
4.90%
3.99%
2.99%
3.26%
3.21%
3.18%
3.39%
3.61%
CBHS Corporate Health Pty Ltd
No data
No data
2.98%
2.38%
3.68%
2.37%
5.47%
5.33%
5.38%
5.82%
CBHS Health Fund Limited
6.58%
5.92%
3.29%
2.73%
3.67%
3.91%
4.26%
2.91%
4.46%
4.51%
CUA Health Limited
6.35%
8.95%
4.97%
3.29%
4.19%
3.99%
2.99%
No data
No data
No data
Defence Health Limited
5.62%
5.48%
5.51%
5.97%
4.50%
3.49%
3.93%
3.33%
3.48%
1.00%
Doctors' Health Fund Pty Ltd
3.98%
3.76%
3.54%
2.28%
2.94%
3.29%
2.85%
2.28%
2.15%
2.79%
GMHBA Limited
6.43%
5.44%
4.94%
4.34%
3.31%
3.34%
3.24%
3.10%
2.33%
2.91%
HBF Health Limited
5.96%
4.94%
5.96%
3.75%
1.94%
1.98%
0.94%
3.62%
4.49%
3.95%
Health Care Insurance Ltd
6.12%
6.90%
6.06%
8.90%
5.53%
3.75%
2.91%
1.09%
-0.09%
0.27%
Health Insurance Fund of Australia Limited
4.49%
6.55%
7.99%
5.35%
4.77%
5.58%
3.78%
3.20%
3.10%
3.87%
Health Partners Limited
5.76%
7.14%
5.10%
3.95%
3.18%
2.77%
3.35%
3.15%
2.93%
1.93%
health.com.au Pty Ltd
6.81%
8.81%
8.53%
5.87%
3.96%
3.94%
0.83%
No data
No data
No data
HCF
6.57%
5.42%
3.65%
3.39%
3.20%
3.39%
2.95%
2.72%
3.33%
2.89%
Hunter Health Insurance
6.99%
6.19%
6.57%
6.40%
3.90%
3.96%
4.14%
3.77%
3.93%
3.32%
Latrobe Health Services Limited
6.15%
5.52%
4.49%
4.25%
3.85%
3.49%
3.42%
3.41%
2.15%
3.04%
Medibank Private Limited
6.59%
5.64%
4.60%
3.88%
3.30%
3.27%
3.25%
3.10%
2.96%
3.31%
Mildura District Hospital Fund Ltd
6.14%
6.74%
5.95%
5.68%
3.89%
4.68%
4.07%
2.90%
2.48%
2.14%
National Health Benefits Australia Pty Ltd
6.26%
5.28%
5.41%
3.97%
3.62%
2.99%
3.56%
3.24%
2.86%
3.41%
Navy Health Ltd
4.50%
5.50%
4.94%
3.94%
4.94%
3.49%
3.46%
3.25%
2.94%
3.10%
NIB Health Funds Ltd
6.55%
5.55%
4.48%
3.93%
3.38%
2.90%
4.36%
2.66%
2.72%
4.10%
Nurses & Midwives Health Pty Ltd
No data
No data
No data
3.22%
5.91%
3.74%
3.38%
No data
No data
No data
Peoplecare Health Limited
6.08%
4.38%
5.09%
4.19%
4.90%
3.48%
3.90%
3.27%
2.79%
1.63%
Phoenix Health Fund Limited
6.48%
5.72%
5.93%
4.19%
3.26%
3.10%
3.47%
3.16%
3.72%
3.72%
Police Health Limited
4.48%
4.81%
4.63%
3.72%
3.58%
3.14%
3.10%
1.79%
0.00%
3.01%
Queensland Country Health Fund Ltd
4.77%
4.91%
5.15%
4.39%
3.95%
3.56%
4.43%
3.34%
3.17%
2.53%
Queensland Teachers' Union Health Fund Limited
6.36%
7.15%
7.30%
4.40%
3.18%
2.66%
1.11%
2.26%
0.81%
1.96%
Railway & Transport Health Fund Ltd
6.17%
5.61%
5.54%
4.47%
3.36%
2.91%
3.19%
No data
No data
No data
Reserve Bank Health Society Ltd
4.88%
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 Association
6.27%
5.89%
4.99%
4.23%
3.56%
2.90%
0.5%
3.19%
2.86%
3.20%
Teachers Federation Health Ltd
6.86%
4.97%
4.96%
2.84%
3.94%
3.24%
2.88%
2.17%
2.50%
2.65%
Transport Health Pty Ltd
4.84%
6.49%
4.93%
5.16%
3.41%
2.59%
2.61%
1.16%
2.49%
No data
Westfund Limited
7.92%
5.94%
4.96%
3.43%
1.64%
4.32%
4.30%
2.40%
2.65%
2.82%
Industry Weighted Average
6.18%
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 $97,000 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.

Frequently asked questions

Gary Ross Hunter's headshot
Journalist

Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise
Gary Ross has written 631 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
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James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, Insurance News, 7NEWS and The Guardian. An experienced journalist, James' work has featured in publications including The Irish Times, Companies100 and In Business. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

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James has written 196 Finder guides across topics including:
  • Car, home, life, health, travel and pet insurance
  • Managing the cost of living
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