Health Insurance Premium Increases: Medibank, Bupa, nib, HCF and HBF Compared

Quick answer: Australian private health insurance premiums rose by an average of 4.41% on 1 April 2026, the largest annual increase since 2017. Among the major funds, HBF had the smallest rise at 2.15%, while nib (5.47%), Medibank (5.10%), HCF (4.96%) and Bupa (4.80%) all increased by more than the industry average. Of the big national funds, only HBF came in below average.

If you are with Medibank, nib, HCF or Bupa, your 2026 increase is above the national average, and the same cover can often be found cheaper elsewhere. 

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2026 Health Fund Premium Increases, Ranked

The table below shows the average premium increase approved for each major fund, effective 1 April 2026. The industry average is 4.41%.

Keep in mind these are averages across all of a fund’s policies, so the increase applied to your individual policy may be higher or lower.

See exactly where your policy sits. Compare now for free.

How Much Did Each Major Fund Increase in 2026?

How much did Medibank increase premiums in 2026?

Medibank increased its premiums by an average of 5.10% on 1 April 2026, well above the 4.41% industry average. As Australia’s largest fund, this affects a significant share of policyholders. If you are a Medibank member, it is worth checking whether comparable cover is cheaper elsewhere before the higher premium carries into next year’s rise.

How much did Bupa increase premiums in 2026?

Bupa increased its premiums by an average of 4.80% on 1 April 2026, above the industry average of 4.41%. Bupa is one of Australia’s two largest funds, so this increase reaches a large number of members across hospital and extras policies.

How much did nib increase premiums in 2026?

nib recorded one of the largest increases among the major funds, raising premiums by an average of 5.47% on 1 April 2026. That is more than a full percentage point above the 4.41% industry average and the highest of the big national funds.

How much did HCF increase premiums in 2026?

HCF increased its premiums by an average of 4.96% on 1 April 2026, above the industry average of 4.41%. As one of Australia’s largest funds owned by its members, HCF’s above average rise still leaves many members paying more than they would on a comparable policy from a lower increasing fund.

How much did HBF increase premiums in 2026?

HBF increased its premiums by an average of 2.15% on 1 April 2026, the lowest rise of any major fund and well under half the increases applied by Medibank and nib. HBF was the only big national fund to come in below the industry average this year.

Compare these funds and see what you would actually pay for free.

The Headline 4.41% Understates What You Actually Pay

The 4.41% figure is an average spread across every policy a fund offers, from basic cover used mainly to avoid the tax levy all the way up to top tier Gold hospital.

For people on comprehensive cover, the real increase is often far steeper. When premiums rose in 2025, the five largest funds increased their Gold hospital policies by around 8% to 13%, while basic and bronze cover rose just 1% to 3%.

The lesson is simple. If you hold mid to high level cover, your personal increase could be double or triple the headline number. The only way to know your actual position is to check your specific policy against the market.

Why Did Health Insurance Go Up in 2026?

Premiums rose for a few connected reasons:

• Rising healthcare costs. The cost of providing medical and hospital services rose around 5% in the last financial year.
• Higher claims. Insurers paid out more in hospital and extras benefits as procedures and an ageing population drove demand.
• Each fund’s own strategy. Funds set increases based on their member base and claims, which is why a low claiming fund like GMHBA can sit at 1.98% while others approach 6%.

Premiums in Australia increase on 1 April each year, after the federal Health Minister approves each insurer’s request.

How Much More Will You Pay in 2026?

In dollar terms, a 4.41% average increase adds roughly $167 a year for an individual on an average priced Gold hospital policy, and around $330 a year for a family on the same cover. Members of the above average funds, namely Medibank, nib, HCF and Bupa, can expect to pay more than those figures.

Because each year’s increase is calculated on top of your current premium, starting from a higher base means you pay more every year that follows.

Should You Switch Health Funds in 2026?

You don’t have to but 2026 is a strong year to check, especially if you are with an above average fund.

The same level of cover from a different insurer can be hundreds of dollars cheaper, and a quick comparison answers two questions:

1. Is my current policy still competitive after price increase?
2. Can I get the same or better cover for less?

A few minutes of comparison is the only reliable way to tell whether your fund’s 2026 increase is fair value, or a signal to move. 

Compare now, free and with no obligation to switch.

The Bottom Line

The 2026 increases show that not all funds are equal. The gap between HBF at 2.15% and nib at 5.47% is substantial, and it widens every year because each rise builds on the last. If you are with Medibank, nib, HCF or Bupa, you are on the higher end of this year’s increases, and it is worth knowing what else is available.

Check how your fund’s 2026 increase compares, and see what you could pay instead. Free, fast, and no obligation to switch.

Premium increase figures are averages across all of a fund’s policies, approved for 1 April 2026. The increase applied to your individual policy may differ. 

Sources: Australian Government Department of Health, Disability and Ageing (industry average)

Frequently Asked Questions

What is the average health insurance premium increase in 2026?

The average increase is 4.41%, effective 1 April 2026, the largest annual rise since 2017. It follows increases of 3.73% in 2025 and 3.03% in 2024.

Which health fund had the lowest premium increase in 2026?

GMHBA had the lowest increase of any fund at 1.98%. Among the major national funds, HBF was lowest at 2.15%.

Which health fund had the highest premium increase in 2026?

AIA had the highest increase at 5.98%. Among the big national funds, nib was highest at 5.47%, followed by Medibank at 5.10%.

Did Medibank, Bupa and nib increase by more than average in 2026?

Yes. Medibank (5.10%), nib (5.47%), HCF (4.96%) and Bupa (4.80%) all increased by more than the 4.41% industry average. HBF was the only major fund below it.

When do health insurance premiums increase in Australia?

Premiums typically increase on 1 April each year, after the federal Health Minister approves each fund’s proposed rise.

Can I avoid the 2026 premium increase?

Some members prepay up to 12 months of premiums before 1 April to lock in the older rate, while others compare and switch to a lower priced policy. Comparing your cover is the most reliable way to find a better deal.

How much more will I pay after the 2026 increase?

At the 4.41% average, an individual on Gold hospital cover pays around $167 more per year and a family around $330 more. Members of above average funds can expect a larger rise.