Rate increases under review for Australia’s private health insurers

The minister did not specify the rate of increases yet.

Australia’s Health Minister Mark Butler was asked to justify proposed increases of private health insurance premiums ahead of the annual rate-setting decision. 

The minister confirmed that he had sent back several submissions from private health insurers, demanding they revise their proposals to ensure better value for consumers.

Butler emphasised the dual priorities of protecting members’ financial interests and maintaining the viability of the insurance industry, which supports private hospitals and other critical healthcare services. 

“I expect to get that very soon, because I recognise that I need to make this decision as soon as practical. But again, the overarching priority is to make sure I get the decision right for the millions of Australia to put their hard-earned money into the private health insurance industry,” Butler said.

Whilst Butler did not provide specifics on the expected rate of increases, he reiterated the importance of balancing affordability for households with the financial stability of insurers.