Health insurance premium change 2025

If your premium is changing this will come into effect on 1 April 2025.

Every policy owner will be sent a communication from March 2025 to advise them of their new premium. The new premium comes into effect on 1 April 2025. You can view your current premium in myHBF; this will be updated with your new premium on 1 April 2025.

Each year, all Australian health insurers review their premiums to make sure they can continue to serve their members’ needs.

Factors that influence premium changes can include:

• Rising cost of health insurance claims
• An increase in chronic health conditions
• More complex and costly medical procedures
• More people using the healthcare system
• Inflation

To calculate a premium, we use claims and service cost data from previous years and forecasted future costs to estimate the amount we’ll need to spend in the coming year. This is adjusted across each State, so we can safely cover the estimated costs.

We calculate your premium based on your cover’s premium change, your Australian Government Rebate , and if applicable, any Lifetime Health Cover loading. If you receive a direct debit, corporate, or other discount, this will also be applied to your premium calculations.

Yes. We can accept a manual payment of up to 18 months’ premium (from the date you make the payment) at the 2024 rate, provided the payment is received by us on or before 31 March 2025. If you have already paid past 1 April 2025, we can still take a manual payment at the old rate, if it is received by us on or before 31 March 2025.

Please be aware if you currently have a direct debit or corporate discount applied to your premium payment, this will need to be removed to make the manual payment as these discounts only apply to automatic payment processes. Payment frequency discounts will still apply.

If you would like to make a pre-payment, please call us on 133 423 and we will be happy to assist.

Unlike other forms of insurance, health insurance in Australia is community-rated, not risk-rated. Community rating means regardless of how likely you are to claim or have claimed, everyone is entitled to pay the same base price for the same health insurance policies. Premiums are reviewed every year by all Australian health insurers to cover the rising cost of healthcare services.

We are committed to being there for our members in the moments that matter and continue to support our members throughout uncertain times or when unexpected circumstances occur.

If you or a family member need support, we’re here to help you manage anything relating to your cover, from health and financial support to accessibility or communication challenges. You can find information and resources that may assist here on our member assistance page.

Regularly review your cover to make sure it’s still a good fit for your needs. We can help you do this through a Policy Health Check.