Private Health Insurers Average Premium Increases for 2015
Private health insurance premiums are set to increase by an average of 6.18 per cent from April, and consumers are being urged to "shop around" for the best deal. See the chart below for the increases in premiums for every insurer:
Check Health Insurance Premium Increases for 2016!
Insurance premiums are going up because insurance companies claim that there have been a lot more benefits paid out. Total benefits paid by private insurers to health fund members reportedly grew by 7.4 percent in the 12 month period ending December 2014. Insurers need to account for those costs and they are doing it by raising premiums on policy holders.
And below you can find how much health insurance premiums increased for each insurer over last 5 years:
| Insurer | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|
| ACA Health Benefits | 4.96% | 5.78% | 5.89% | 5.47% | 4.88% | 4.89% |
| Australian Unity Health | 6.26% | 6.62% | 5.23% | 4.55% | 4.91% | 6.68% |
| BUPA | 5.59% | 6.35% | 5.80% | 4.91% | 5.14% | 5.39% |
| CBHS Health Fund | 6.58% | 5.61% | 4.59% | 5.31% | 7.12% | 7.14% |
| Cessnock District Health | 6.99% | 5.36% | 5.55% | 5.83% | 6.66% | 5.29% |
| CUA Health | 6.35% | 5.47% | 4.62% | 7.85% | 7.36% | 9.48% |
| Defence Health | 5.62% | 5.34% | 4.02% | 3.93% | 3.98% | 4.90% |
| Doctors Heath Fund | 3.98% | 4.23% | 3.78% | 5.66% | 5.58% | 6.91% |
| GMHBA | 6.43% | 5.94% | 5.23% | 5.17% | 5.68% | 7.95% |
| Grand United Corporate Health | 4.32% | 3.46% | 3.23% | 3.17% | 2.53% | 2.32% |
| HBF Health | 5.96% | 3.72% | 3.75% | 5.85% | 5.85% | 4.95% |
| HCF | 6.57% | 6.89% | 5.74% | 5.94% | 6.41% | 5.94% |
| Health Care Insurance | 6.12% | 5.34% | 3.95% | 5.54% | 7.40% | 6.52% |
| Health Insurance Fund | 4.49% | 2.98% | 4.47% | 5.35% | 4.47% | 4.50% |
| Health Partners | 5.76% | 3.14% | 3.40% | 5.44% | 6.61% | 7.72% |
| Health.com.au | 6.81% | 6.13% | 5.76% | - | - | - |
| Healthguard Health Benefits (GMF Health) | 5.31% | 4.95% | 3.86% | 3.99% | 4.84% | 3.92% |
| Latrobe | 6.15% | 5.98% | 6.21% | 5.31% | 5.28% | 4.53% |
| Lysaght Peoplecare | 6.08% | 5.82% | 6.81% | 5.93% | 4.94% | 6.30% |
| Medibank Private | 6.59% | 6.49% | 6.20% | 4.70% | 5.35% | 5.74% |
| Mildura District Hospital Fund | 6.14% | 3.65% | 5.75% | 2.19% | 4.56% | 4.67% |
| National Health Benefits Australia | 6.26% | 4.50% | 5.54% | 5.64% | 5.61% | 6.49% |
| Navy | 4.50% | 4.53% | 4.80% | 3.35% | 3.70% | 3.81% |
| NIB Health Funds | 6.55% | 7.99% | 6.50% | 5.50% | 6.19% | 5.95% |
| Phoenix Health Fund | 6.48% | 6.52% | 5.47% | 6.98% | 4.43% | 6.07% |
| Police Health | 4.48% | 4.81% | 4.09% | 4.96% | 5.51% | 15.52% |
| Queensland Country Health | 4.77% | 5.85% | 4.59% | 4.38% | 4.89% | 4.49% |
| Queensland Teachers Union | 6.36% | 4.50% | 4.50% | 3.96% | 4.94% | 5.97% |
| Railway and Transport Health Fund | 6.17% | 4.80% | 4.29% | 5.74% | 14.38% | 8.97% |
| Reserve Bank Health Society | 4.88% | 4.39% | 4.31% | 4.89% | 1.50% | 5.00% |
| St Luke’s | 6.27% | 6.33% | 3.96% | 3.16% | 4.79% | 5.27% |
| Teachers Federation Health | 6.86% | 5.42% | 4.10% | 4.68% | 4.89% | 5.93% |
| Transport Health | 4.84% | 5.90% | 6.77% | 7.69% | 6.34% | 6.51% |
| Westfund | 7.92% | 3.25% | 3.48% | 5.19% | 5.94% | 6.42% |
| INDUSTRY WEIGHTED AVERAGE | 6.18% | 6.20% | 5.60% | 5.06% | 5.56% | 5.78% |