Health premium hikes hit as 2.7 million Australians miss warning notices

Funds typically issue written messages before the annual adjustment period begins.

Around 2.7 million Australians with private health insurance say they regularly miss notifications warning them about upcoming premium increases, according to new research by Money.com.au.

The survey found that 18% of Australians admit they always miss their health fund’s premium increase notice, often because they do not read the message or mistake it for a marketing email.

Most health insurers send these notices ahead of the annual premium adjustments that take effect on 1 April.

In 2026, premiums are set to rise by an average of 4.41%, the largest increase since 2017.

Under Australian rules, insurers must notify members in writing about premium increases, although there is no legislated timeframe for when notices must be issued.

The Private Health Insurance Code of Conduct requires most funds to provide at least 30 days’ notice before price changes take effect.

According to the nationally representative survey cited on page 1 of the release, 38% of Australians receive their premium increase notice more than a month before the change takes effect, whilst 36% receive between two and four weeks’ notice.

A further 8% say they receive less than two weeks’ warning before premiums rise.

Chris Whitelaw, general manager of health insurance at Money.com.au, said many Australians are unsure when their premium increase notice will arrive.

He said policyholders should check the notice carefully to see how much their premium will increase and compare it with the industry-wide average rise.

Younger Australians were found to be the most likely to miss the alerts.

The survey showed that 25% of Gen Z policyholders say they always miss their health insurance premium increase letter, compared with 20% of Gen X, 17% of Millennials and 13% of Baby Boomers.

The research also estimated the financial impact of the 4.41% premium increase.

Families with a combined hospital and extras policy could see their premiums rise by about $151.2 (A$216) per year, based on an average annual cost of $3.4k (A$4.9k).

Single policyholders with the same cover may face an increase of around $100.8 (A$144) per year from an average annual premium of $2.3k (A$3.3k).

Money.com.au advised policyholders to review their notices early, noting that many health funds allow members to lock in the current premium before 31 March for another 12 months

($1.00 = A$1.43)