Private Health Insurance Average Premium Increases for 2017

Private health insurance premiums are set to increase by an average of 4.84 per cent from April, and consumers are being urged to "shop around" for the best deal. See the chart below for the increases in premiums for every insurer:

What’s driving premium increases?

Insurance premiums are going up because insurance companies claim that there have been a lot more benefits paid out. Total benefits paid by private insurers to health fund members reportedly grew by 5.1% on the previous year to a record $19.2 billion (down from 6.0% reported in 2016). Insurers need to account for those costs and they are doing it by raising premiums on policy holders. This year insurers also mention labour costs and technology as drivers of price increases.

And below you can find how much health insurance premiums increased for each insurer over last 7 years:

.
Insurer 2017 2016 2015 2014 2013 2012 2011 2010
ACA Health Benefits 4.70% 6.19% 4.96% 5.78% 5.89% 5.47% 4.88% 4.89%
Australian Unity Health 4.46% 5.05% 6.26% 6.62% 5.23% 4.55% 4.91% 6.68%
BUPA 4.90% 5.69% 5.59% 6.35% 5.80% 4.91% 5.14% 5.39%
CBHS Health Fund 3.29% 5.92% 6.58% 5.61% 4.59% 5.31% 7.12% 7.14%
Cessnock District Health 6.57% 6.19% 6.99% 5.36% 5.55% 5.83% 6.66% 5.29%
CUA Health 4.97% 8.95% 6.35% 5.47% 4.62% 7.85% 7.36% 9.48%
Defence Health 5.51% 5.48% 5.62% 5.34% 4.02% 3.93% 3.98% 4.90%
Doctors Heath Fund 3.54% 3.76% 3.98% 4.23% 3.78% 5.66% 5.58% 6.91%
GMHBA 4.94% 5.44% 6.43% 5.94% 5.23% 5.17% 5.68% 7.95%
Grand United Corporate Health 4.11% 4.26% 4.32% 3.46% 3.23% 3.17% 2.53% 2.32%
HBF Health 5.96% 4.94% 5.96% 3.72% 3.75% 5.85% 5.85% 4.95%
Hospitals Contribution Fund (HCF) 3.65% 5.42% 6.57% 6.89% 5.74% 5.94% 6.41% 5.94%
Health Care Insurance 6.06% 6.90% 6.12% 5.34% 3.95% 5.54% 7.40% 6.52%
Health Insurance Fund 7.99% 6.55% 4.49% 2.98% 4.47% 5.35% 4.47% 4.50%
Health Partners 5.10% 7.14% 5.76% 3.14% 3.40% 5.44% 6.61% 7.72%
Health.com.au 8.53% 8.81% 6.81% 6.13% 5.76% - - -
Healthguard Health Benefits (GMF Health) - - 5.31% 4.95% 3.86% 3.99% 4.84% 3.92%
Latrobe 4.49% 5.52% 6.15% 5.98% 6.21% 5.31% 5.28% 4.53%
Lysaght Peoplecare 5.09% 4.38% 6.08% 5.82% 6.81% 5.93% 4.94% 6.30%
Medibank Private 4.60% 5.64% 6.59% 6.49% 6.20% 4.70% 5.35% 5.74%
Mildura District Hospital Fund 5.95% 6.74% 6.14% 3.65% 5.75% 2.19% 4.56% 4.67%
National Health Benefits Australia5.41% 5.28% 6.26% 4.50% 5.54% 5.64% 5.61% 6.49%
Navy 4.94% 5.50% 4.50% 4.53% 4.80% 3.35% 3.70% 3.81%
NIB Health Funds 4.48% 5.55% 6.55% 7.99% 6.50% 5.50% 6.19% 5.95%
Phoenix Health Fund 5.93% 5.72% 6.48% 6.52% 5.47% 6.98% 4.43% 6.07%
Police Health 4.63% 4.81% 4.48% 4.81% 4.09% 4.96% 5.51% 15.52%
Queensland Country Health 5.15% 4.91% 4.77% 5.85% 4.59% 4.38% 4.89% 4.49%
Queensland Teachers Union 7.30% 7.15% 6.36% 4.50% 4.50% 3.96% 4.94% 5.97%
Railway and Transport Health Fund 5.54% 5.61% 6.17% 4.80% 4.29% 5.74% 14.38% 8.97%
Reserve Bank Health Society 5.00% 5.37% 4.88% 4.39% 4.31% 4.89% 1.50% 5.00%
St Luke’s 4.99% 5.89% 6.27% 6.33% 3.96% 3.16% 4.79% 5.27%
Teachers Federation Health 4.96% 4.97% 6.86% 5.42% 4.10% 4.68% 4.89% 5.93%
Transport Health 4.93% 6.49% 4.84% 5.90% 6.77% 7.69% 6.34% 6.51%
Westfund 4.96% 5.94% 7.92% 3.25% 3.48% 5.19% 5.94% 6.42%
INDUSTRY WEIGHTED AVERAGE 4.84% 5.59% 6.18% 6.20% 5.60% 5.06% 5.56% 5.78%

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