Most Australians see an annual rate increase letter land in their letterbox, fund app or buried in an email but aren’t entirely sure how this number comes about.
The industry average premium increase for 2026 is 4.41%, this is the highest increase in the Private Health Insurance since 2017.
Who had the lowest increases for 2026?
The insurers with the most modest 2026 premium increases are:
- GMHBA (1.98%)
- HBF (2.15%)
- Policy Health (2.53%)
- HIF (2.60%)
- Navy Health (2.88%)
- Phoenix Health (2.95%)
Which funds increased by the most?
The insurers with the highest 2026 premium increases are:
- AIA (5.98%)
- NIB Health Funds Ltd (5.47%)
- Medibank & AHM (5.10%)
- HCF (4.96%)
- Bupa (4.80%)
What are the steps for Rate Rise.
- Internal Check (The Math) The 10-year average (3.64%) is notably lower than the 20-year average (4.55%), suggesting that premium increase rates have moderated in recent years compared to the 2006-2016 period.
- Government Application (The Ask) Around November, the fund applies to the Federal Health Minister. They must prove the increase is necessary to pay claims and is in the public interest, not just for profit.
- The Audit (The Review) Two bodies check the math:
- APRA ensures the fund remains financially safe.
- The Department of Health ensures the increase is fair to consumers.
- Ministerial Approval (The Verdict): In Dec/Jan, the Health Minister approves, rejects, or negotiates the rate.
- Member Notice (The Letter) You are notified in writing (usually Feb/March) of your new premium, which takes effect on April 1st.
How have those rate increases played out over the years?
You have health insurance; you usually notice the increase when it lands. What we rarely do is look back and see how far it’s actually climbed over time.
Between 2020 and 2026, the industry average increase was 22.43 percent. To put that into perspective, if you were paying $330 a month in 2020, that same policy would now cost $399.81. That’s an extra $837.67 this year for the same cover.
Small increases add up quickly. That’s why it pays to check your cover, not just when prices rise, but over time.
The table below shows premium increase rates for 30 private health insurers, displaying:
| Active Private Health Insurer | 2026% | 2025% | 10 Years | 20 Years |
|---|---|---|---|---|
| ACA Health | 4.48% | 3.16% | 32.62% | 95.58% |
| AIA | 5.98% | 5.70% | 33.96% | 33.96% |
| Australian Unity | 3.98% | 4.89% | 33.26% | 93.21% |
| BUPA | 4.80% | 5.10% | 38.43% | 97.30% |
| CBHS Corporate Health | 3.25% | 3.90% | 40.56% | 40.56% |
| CBHS Health Fund | 3.25% | 2.84% | 35.83% | 100.77% |
| Cessnock District Health | 3.92% | 2.93% | 42.84% | 104.82% |
| Defence Health | 2.99% | 3.30% | 37.50% | 88.93% |
| Doctors’ Health Fund | 3.67% | 3.48% | 29.27% | 96.39% |
| GMHBA Limited | 1.98% | 2.44% | 31.93% | 97.82% |
| HBF | 2.15% | 2.80% | 31.58% | 87.98% |
| HCi | 4.53% | 2.94% | 35.89% | 94.17% |
| HIF | 2.60% | 1.91% | 42.15% | 93.33% |
| Health Partners | 3.94% | 3.43% | 33.73% | 96.48% |
| HCF | 4.96% | 4.95% | 35.43% | 99.77% |
| Latrobe Health | 4.53% | 2.89% | 35.52% | 88.93% |
| Medibank Private & AHM | 5.10% | 3.99% | 36.76% | 98.67% |
| Mildura District | 4.25% | 3.69% | 39.73% | 91.85% |
| National Health Benefits Australia | 2.96% | 2.94% | 34.96% | 84.81% |
| Navy Health Ltd | 2.88% | 2.85% | 35.79% | 82.48% |
| NIB | 5.47% | 5.79% | 39.79% | 103.69% |
| Peoplecare Health | 4.01% | 3.54% | 36.80% | 96.14% |
| Phoenix Health | 2.95% | 2.43% | 35.87% | 101.17% |
| Police Health | 2.53% | 9.56% | 35.06% | 106.95% |
| Reserve Bank Health Society | 4.13% | 3.17% | 36.71% | 102.18% |
| St Luke’s Health | 4.25% | 2.88% | 32.56% | 84.56% |
| Teachers Federation Health | 3.94% | 2.94% | 32.06% | 95.01% |
| Westfund Limited | 3.26% | 3.40% | 33.18% | 89.37% |
| Industry Average | 4.41% | 3.73% | 34.47% | 95.60% |
Comparison with Historical Trends
Several key observations emerge from the data:
- Moderation in Long-Term Trends: The 10-year average (3.44%) is notably lower than the 20-year average (4.78%), suggesting that premium increase rates have moderated in recent years compared to the 2006-2016 period.
- Recent Volatility: Some insurers show significant variation between their 2025 increases 2026. In 2025 they went from 9.56% down to 2.53% in 2026.
- Consistent Performers: Several insurers maintain relatively stable increase patterns across all three time periods, such as Navy Health Ltd (2.88%,2.85%, 3.84%, 3.98%) and St Luke’s Medical (4.25%, 2.88%, 3.42%, 4.02%).
- New Entrants: AIA Health Insurance shows a 2025 increase of 5.70% and have increased by an additonal 5.98% in 2026.
- Array of sub-brands: NIB has had the 2nd highest increase over 25′,26′. This also includes brands such as, AAMI, APIA, ING, Priceline, Qantas, Real, Suncorp and Seniors.
Important Information
Konkrd’s website, mobile app and associated channels (“Platform”) is an informational tool only and uses advanced AI technology to provide you with product comparisons and recommendations. Our Platform displays information from third party providers so while we strive to keep our information up to date, you should always check this information with the provider.
By accessing or using our Platform, you acknowledge and agree that your use of the Platform is governed by our Terms and Conditions, Privacy Policy and any other policies on our Platform.
The Platform is provided “as is” and “as available” without warranties of any kind, either express or implied and to the extent permitted by law, and Konkrd has no liability in respect of your use of the Platform and reliance on any information or recommendations provided through the product comparison services
✧ Konkrd AI