This health fund hiked premiums 9.56%! Is it yours?
Health insurance price rises 2025: Prices are going up! Find out how much more your health fund will charge you after April 1st 2025.
The last thing we need is another price rise...yeah, I don't have great news.
Aussies are facing a significant jump in health insurance costs this year, after Health Minister Mark Butler announced the approved premium increases for 2025. While the average increase is 3.73%, one fund is increasing premiums by 9.56%!
Prices are going up April 1st - but thankfully not all the funds are going that hard. Let's see what the numbers are for your health fund.
Who's raising prices the most?
Here are the highlights from this weeks' announcement.
- The biggest rise: Police Health, with 9.56%.
- The smallest rise: HIF, with just 1.91%.
Australia'a biggest funds are a mixed bag this year, ranging from 2.8% up to 5.79%.
- nib: 5.79%
- Bupa: 5.10%
- HCF: 4.95%
- Medibank/ahm: 3.99%
- hbf: 2.80%
Only 3 funds snuck under this year's overall inflation rate of 2.5%:
- HIF: 1.91%
- Phoenix: 2.43%
- GMHBA: 2.44%
Time for a check-up?
Don't wait! Compare health insurance before the April 1st deadline.
2025 Health insurance price rises for every fund
The table below outlines the average price increase for each health fund in 2025. Note that these are the parent funds, so include the funds that are owned by the main fund. The largest of these are ahm (owned by Medibank) as well as the nib underwritten funds, including Qantas, Priceline, ING and more.
Health Fund | 2025 average increase |
|---|---|
ACA Health Benefits Fund Limited | 3.16% |
AIA Health Insurance | 5.70% |
Australian Unity Health Limited | 4.89% |
Bupa | 5.10% |
CBHS Corporate | 3.90% |
CBHS Health | 2.84% |
Defence Health | 3.30% |
Doctors' Health Fund | 3.48% |
GMHBA | 2.44% |
HBF (inc. see-u) | 2.80% |
Health Care Insurance (HCI) | 2.94% |
Health Insurance Fund of Australia (HIF) | 1.91% |
Health Partners | 3.43% |
HCF | 4.95% |
Hunter Health Insurance | 2.93% |
Latrobe Health | 2.89% |
Medibank (inc. ahm) | 3.99% |
Mildura District Hospital Fund | 3.69% |
onemedifund (National Health Benefits Australia) | 2.94% |
Navy Health | 2.85% |
NIB Health Funds (inc. sub-brands) | 5.79% |
Peoplecare | 3.54% |
Phoenix Health Fund | 2.43% |
Police Health | 9.56% |
Queensland Teachers' Union Health Fund | 3.45% |
Reserve Bank Health Society | 3.17% |
St Luke's | 2.88% |
Teachers (inc. Nurses & Midwives & Uni Health) | 2.94% |
Westfund | 3.40% |
Industry Average | 3.73% |
Why the big jump in health fund premiums?
Several factors contribute to the rising cost of health insurance, including:
- Inflation: The rising cost of goods and services impacts all sectors, including healthcare.
- Aging population: As Australians live longer, they require more medical care, driving up costs.
- Technological advancements: New medical technologies are often expensive, adding to the overall cost of healthcare.
Avoiding the health insurance price rises
You can't avoid health insurance price rises forever - it's a death and taxes situation. But there are some ways to save on your health insurance:
- Review your policy: Make sure your current cover still meets your needs. You might be able to downgrade or switch to a more basic policy to save money. Downgrading is always a little risky though, so be careful!
- Compare new policies: Use finder to compare 40+ health funds, and see if there's a better deal for you. You might find a policy that covers everything you need for a lower premium. Switching health funds is easier that you think, and could save you hundreds of dollars.
- Get a sign-up offer: If you do switch health funds, try to find a new one that offers a sign-up deal for new customers. You can often score 4 or 6 months free cover, plus a bunch of other goodies.
- Pay in advance: Most funds will let you pay your premium in advance, typically for up to 12 or 18 months. You'll need to have the cash on hand, but it'll let you lock in today's rate for a year or more.
When do health insurance prices go up?
Health insurance prices will go up on April 1st 2025. It's the same date that health insurance premiums rise annually. The best time to act is right now, before the price change comes in to effect, though you can still compare health insurance to find a better deal after the deadline.
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