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Health insurance premium rates 2024
Health insurance premium rates will go up by an average of 3.03% this year.
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Step 1/2 - About your cover
Which state do you live in?
QLD
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ACT
VIC
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SA
WA
NT
What's your age?
Depending on your age, you may be eligible for an
aged-based discount. This is used to estimate your
rebate.
Under 65
65 - 69
70 or older
What's your household's taxable income?
This is the combined income you and your spouse earn before tax. It's needed to calculate the correct Australian government rebate.
$93,000 and under
$93,001 to $108,000
$108,001 to $144,000
$144,001 and over
What kind of health insurance do you need?
Combined (Extras + Hospitals)
Extras
Hospital
What level of hospital coverage would you like?
You can change this at any time later.
Legend
Covered
Restricted cover, You may be partially covered for
this category.
Not covered. Optional for insurer to include.
*Prices updated November 2024, in line with Finder's database of health insurance policies. Prices reflect the cheapest available for a single individual with less than $97,000 income and living in Sydney with a $750 excess.
What extras cover do you need? (Optional)
Select as many as you want or move to the next step
Preventative & general dental
Major dental & implants
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Physiotherapy
Podiatry
Non-PBS pharmaceuticals
Chiropractic
Emergency ambulance
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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.
Depending on your age, you may be eligible for an
aged-based discount. This is used to estimate your
rebate.
Under 65
65 - 69
70 or older
What's your household's taxable income?
This is the combined income you and your spouse earn before tax. It's needed to calculate the correct Australian government rebate.
$93,000 and under
$93,001 to $108,000
$108,001 to $144,000
$144,001 and over
What kind of health insurance do you need?
Combined (Extras + Hospitals)
Extras
Hospital
What level of hospital coverage would you like?
You can change this at any time later.
Legend
Covered
Restricted cover, You may be partially covered for
this category.
Not covered. Optional for insurer to include.
*Prices updated March 2024, in line with Finder's
database of health insurance policies. Prices are based
on a single individual with less than $93,000 income and
living in Sydney with a $750 excess.
What extras cover do you need? (Optional)
Select as many as you want or move to the next step
Preventative & general dental
Major dental & implants
Optical
Physiotherapy
Podiatry
Non-PBS pharmaceuticals
Chiropractic
Emergency ambulance
Remedial massage
Email me my results (optional)
To get a copy of your results for later, add your email below
You'll pay the same price as going direct - we don't
charge fees
We don't ask for your phone number to see prices
Hang tight - we're fetching policies just for you!
Comparing quotes from 40+ funds...
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
If you prepay your premiums, your rates will be locked in for the period you paid in advance, which could be as little as 2 weeks or as long as 18 months.
Yes, the cost of extras cover will also increase on 1 April. However, it's not yet clear exactly how much extras cover will increase. Some insurers have indicated that extras policies will increase at a slower rate than hospital cover.
Insurance companies offer cooling-off periods, so you can change your mind within a certain period – often two weeks – and still get a refund on the premium you paid.
No. You can't remove benefits that you don't want to pay for. However, there are hundreds of health insurance policies on the market, which all come with different benefits and price points. Finder's comparison tool can help you find a policy that suits your needs.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 649 Finder guides across topics including:
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, WIN News, Insurance News, 7NEWS and The Guardian. 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
James's expertise
James has written 213 Finder guides across topics including:
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Depending on your age, you may be eligible for an
aged-based discount. This is used to estimate your
rebate.
Under 65
65 - 69
70 or older
What's your household's taxable income?
This is the combined income you and your spouse earn before tax. It's needed to calculate the correct Australian government rebate.
$93,000 and under
$93,001 to $108,000
$108,001 to $144,000
$144,001 and over
What kind of health insurance do you need?
Combined (Extras + Hospitals)
Extras
Hospital
What level of hospital coverage would you like?
You can change this at any time later.
Legend
Covered
Restricted cover, You may be partially covered for
this category.
Not covered. Optional for insurer to include.
*Prices updated March 2024, in line with Finder's
database of health insurance policies. Prices are based
on a single individual with less than $93,000 income and
living in Sydney with a $750 excess.
What extras cover do you need? (Optional)
Select as many as you want or move to the next step
Preventative & general dental
Major dental & implants
Optical
Physiotherapy
Podiatry
Non-PBS pharmaceuticals
Chiropractic
Emergency ambulance
Remedial massage
Email me my results (optional)
To get a copy of your results for later, add your email below
