Everyone who has private health insurance in Australia just got hosed

Christopher Furlong/Getty Images

The Federal Government has used the traditional Friday afternoon quiet time to announce it has approved an average 6.18% rise in health insurance premiums from April 1.

Australia’s inflation rate is currently 2.2%.

The recently sold off government entity Medibank Private has one of the biggest increases at 6.59%.

Health Minister Sussan Ley says people should shop around to get the best deal.

“With over 30 private health funds now operating in the Australian market, my strong advice to consumers is shop around to get the best deal,” she says.

The smallest premium increase is 3.98% by the Doctors Heath Fund and the largest Cessnock District Health with a 6.99% rise.

BUPA is lifting premiums by 5.99%, Medibank Private 6.59%, HBF 5.96% and HCF 6.57%.

The other premium rises are HERE.

Health insurance benefits paid to members rose 7.4% to $17.28 billion in the December quarter compared to the same three months the year before.

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