Health Insurers Approved to Increase Premiums by Keep Up With Inflation

The decision by the Health Minister will affect around 15 million people and may impact the government during an election focused on the cost of living.

Australian Minister for Health and Aged Care Mark Butler addresses the media at Parliament House on March 30, 2023 in Canberra, Australia. Martin Ollman/Getty Images

The average cost of private health insurance will rise by an average of 3.73 percent from April 1, after Health Minister Mark Butler approved the biggest annual increase since 2019—a move that could fuel voter discontent ahead of a cost-of-living-focused federal election.

The increase will add between $119 and $155 per year to the average policyholder’s bill. Last year, premiums went up by an average of 3.03 percent.