GUIDES & RESOURCES

iSelect Health Rate Rise Hub 2023

Private health insurance is going up again, with premiums set to rise by an average of 2.9% in 20231
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Updated 03/07/2023
What changed?
Updated to reflect nib’s deferral until 1 October 2023.
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Updated 03/07/2023

What changed?

Updated to reflect nib’s deferral until 1 October 2023.
Our aim is to help you make better informed decisions. That’s why iSelect’s content is produced in accordance with our fact-checking and editorial guidelines.

Edited by

Angela Phung

Find out more about how we make money.

View our Privacy Policy.

Compare health insurance policies before rate rise!

See if you can save by comparing a range of Australia's health funds with iSelect*

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*iSelect does not compare all providers or policies in the market and not all policies or special offers are available at all times, through all channels or in all areas. Not all policies available from our providers are compared by iSelect and due to commercial arrangements and customer circumstances, not all policies compared by iSelect are available to all customers.  Learn more.

The 2022 rate rise in a nutshell:

  • Health insurance premiums are set to rise by an average of 2.9% in 20231. 
  • This works out to an average increase of about $134 a year on a family policy, while singles will be paying around $60 more a year on average2. 
  • It’s important to remember that 2.9% is just an industry average, some policies are set to increase by less than 2.9% on average while others may increase by more. It’s important that you check with your fund how much and if their prices will be increasing by in 20231.

What does this mean for you?

  • If you, like many Aussies, are feeling the cost-of-living crunch, now might be a good time to compare your health cover to make sure you’re not paying more than you need to 
  • Remember: When comparing policies, it's important to consider both coverage and price 
  • Got more questions? Please see our FAQ section below, or feel free to call our friendly team on 1800 784 772 
  • Ready to compare policies and see if you could save? Get started comparing health insurance from iSelect’s range of policies and providers*

What are some benefits of taking out private health cover depending on your policy?

  • Avoid the lengthy public waiting list for elective surgeries 
  • Choose your own doctor and hospital

     

Your health insurance rate rise questions answered

How much are premiums increasing in 2023?

Why are some health insurance prices increasing again?

Are all funds increasing premiums on 1 April 2023?

How do I know how much my policy is going up? Will my fund tell me?

If my premiums are increasing, what can I do?

I’m struggling to justify the cost of private cover right now. Should I just cancel altogether?

Is switching really worth the effort?

If I switch to another fund or policy, will I have to re-serve waiting periods?

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