How 27% of Australians rank health insurance amongst the top 3 bill worries

Consumer Sentiment Tracker shows cover is already a major source of recurring payment strain.

Australian households are losing hundreds of dollars annually by failing to review their private health insurance, according to new data from comparison site Finder. 

A survey of 884 policyholders shows that over a fifth of them have not compared their coverage in over 12 months, despite an upcoming industry-wide cost increase.

The Australian government has authorised private health insurers to increase premiums by an average of 4.41%, effective 1 April, 2026. 

This represents the most significant price jump in nine years. 

Finder’s Consumer Sentiment Tracker indicates the financial pressure is already being felt, with 27% of insured Australians ranking health cover as one of their three most stressful recurring bills.

Data from the Australian Prudential Regulation Authority (APRA) as of December 2025 confirms the scale of the market, with 12.6 million people (45.6%) holding private hospital cover and 15.3 million people (55.3%) maintaining extras cover.

Taylor Blackburn, insurance specialist at Finder, notes that many Australians remain on outdated policies that no longer reflect their current health or financial needs. 

He points out that insurers typically reserve their most competitive offers—including up to $700 in cashback, airline points, or free coverage periods—for new customers rather than existing ones.

Blackburn warns that failing to switch or negotiate can result in paying for unused inclusions or lacking essential coverage as personal circumstances change. 
He advises consumers to treat health insurance as a standard annual household expense review to avoid unnecessary costs in a high-inflation environment.