Premium Price Changes
Your health cover premium is increasing on 1 April 2025
Every year, all private health insurers across Australia review their premiums and can submit changes for approval to the Federal Minister for Health and Aged Care. Find out more about the reasons for this change.
Why are premiums increasing?
We understand that premium increases can be challenging. We want to reassure you that we’re committed to keeping increases as low as possible while managing the rising costs of healthcare in Australia and continuing to find ways to provide even greater value for our members.
Rising costs of healthcare
Healthcare costs are increasing, with the price of treatments and hospital charges continuing to rise. This puts pressure on the healthcare industry to manage the rising costs of private care.
Supporting claims
While we work hard to keep premium increases as low as possible, this year’s increase is necessary to keep pace with increased claims. This makes sure we can continue to pay claims when you use your cover.
Industry pressure and higher operational costs
The Australian healthcare sector is seeing significant cost increases, with health sector inflation reaching 5.7% in FY24. This increase makes it harder for health funds to cover rising expenses.
How can I reduce my premium?
We understand that rising costs can make it challenging to manage expenses, but there are ways to adjust your premium while still getting great value from your cover.
Not every option will suit everyone, but we’re here to guide you in finding the best solution for your needs.
Head to your member account to:
Lock in your premium
If you pay your premium, opens in a new tab up to 13 months in advance, you can keep your current payment rate – unless there’s a change to your policy. Pay before 1 April 2025 to lock in your current price before rates increase.
Review your policy
It's a good idea to regularly review your policy, opens in a new tab to make sure you're not paying for things you don’t need. You can also consider increasing your hospital excess, opens in a new tab to lower your premium.
Maximise your discounts
If you’re under 30, you may be eligible for an age-based discount of up to 10% on your hospital cover premium, which can be retained until age 41.¹ Setting up direct debit payments could also save you on your premium.
You can also contact us, opens in a new tab to check if you’re eligible for financial suspension.
Here are all the ways we help you save
Make the most out of your cover
Your cover comes with a range of tools, discounts and benefits designed to help you get the most value from your nib membership.
Visit our partnered providers
Cut down your healthcare costs by visiting providers in our First Choice network of dentists, opens in a new tab, optometrists , opens in a new taband physios, opens in a new tab.² Our members saved over $25 million on dental care alone.^ Plus, eligible members can access No Gap cover on selected services.
Reduce your hospital costs
With over 40,000 MediGap-registered specialists, opens in a new tab, you could benefit from reduced or eliminated 'gap' costs for in-patient treatments nationwide including anesthesia, general practice, obstetrics and gynecology, paediatrics and child health, surgery, ophthalmology and psychiatry.³
Get rewarded for being a member
Unlock even more value from your membership with discounts, opens in a new tab on everyday expenses like groceries and petrol, along with exclusive offers on major brands, dining, movie tickets and more. Plus, earn points on selected offers to save even more.
Enjoy convenient health services
Enjoy 20% off telehealth with our partner, hub.health, opens in a new tab. Plus, enjoy the convenience of treatments delivered to your door and online medical certificates.*
Get a discount on nib Travel insurance
Get 10% off nib Travel insurance plans to protect your trip and travel well.⁴
Access free health and wellbeing tools
Explore a range of health and wellbeing resources to help you lead your healthiest life. Check your symptoms in minutes with nib Symptom Checker, opens in a new tab and access personalised health insights with our free online skin or health checks.
Use our Health Management Programs
We offer eligible members access to a range of programs , opens in a new tabat no additional costs to suit your needs – whether it's to help get you in shape, keep you out of hospital, improve your physical and mental wellbeing or to aid a quicker recovery after you've been in hospital.
You could pay less at tax time
Having hospital cover can help you avoid the Medicare Levy Surcharge, opens in a new tab (MLS) if you earn above a certain threshold. Plus, private health insurance lets you access the Australian Government Rebate, opens in a new tab (AGR), making your cover more affordable.
Skip long public hospital wait lists
Our Hospital cover, opens in a new tab gives you more control over your care, letting you choose your doctor, your hospital and the timing of your treatment, so you get the care you need, when it suits you.
Save on everyday health
Our Extras cover , opens in a new tabhelps you stay on top of your health and wellbeing without breaking the bank on dental check-ups, physio sessions and optical care.
Be prepared for the unexpected
The last thing you’ll want to worry about during an emergency is paying for the cost of an ambulance. Depending on the state where you live, our covers give you access to unlimited emergency ambulance cover, so you’re protected when you need it most.
Frequently asked questions
How your premium supports your health and wellbeing
Your premium payments help fund the latest healthcare advancements, from new technology to services that improve your health. By paying your premiums, you’re not just getting access to great care – you're also supporting innovations that bring better health tools, services and support directly to you.
Here’s how members are making the most of these programs and resources to manage their health more easily.
Key statistics from Financial Year 24
The highest claim nib paid in FY24 was $223,680^
nib paid on average $3,586 per hospital admission^
Over 22,000 members enrolled in a health management program, opens in a new tab and were supported to improve their wellbeing, minimise future health risks or recover quicker after a hospital admission. Find a program here, opens in a new tab.#
Over 78,000 members undertook a health assessment or used a screening program, opens in a new tab to better understand their health.
In 2024, the nib Symptom Checker helped over 10,000 members make decisions regarding their health care, with 85% of members reassured that emergency care was not required, and 1 in 5 members recommended self-care at home. For those directed to a GP, telehealth was deemed appropriate 50% of the time, allowing fast and convenient access to a doctor.⁵
We’re here to help
We’re committed to being here for you, offering guidance and support at every step of your journey towards better health and wellbeing.
Disclaimers
^Figures are general claims statistics taken for the full financial year July 1 2023 – June 30 2024 for nib Health Insurance, including nib Corporate Private Health Insurance, Real Health Insurance, Australian Seniors Health Insurance, GU Health Insurance, Qantas Health Insurance, AAMI Health Insurance, APIA Health Insurance, Suncorp Health Insurance, Priceline Health Insurance, ING Health Insurance.
1Eligible members must be aged 18-29 and not a dependant under the policy. Discount calculated at 2% for each year an eligible member is aged under 30, to a maximum of 10% for 18 to 25 year olds. Read more, opens in a new tab.
2An agreed rate is a set price agreed upon by nib and your healthcare provider for certain services or treatments. These fees are reviewed at least annually and are subject to change. Always check nib.com.au/find-a-provider, opens in a new tab or the nib App, opens in a new tab before booking to see if your provider participates or simply ask your provider if they are part of nib’s network at the time of booking. Providers occasionally leave the nib First Choice network so it’s important to check before booking to avoid disappointment. Annual limits, waiting periods & T&Cs apply.
3Coverage may differ depending on your level of cover and policy exclusions, waiting periods, hospital excess and limits and whether you go to an nib Agreement Hospital, a non-agreement private hospital or a public hospital. Out-of-pocket expenses may apply.
*The provision of treatments is not guaranteed. It will be based on the information you provide during your consultation and whether the GP deems it to be appropriate for the care of your condition(s).
4nib Travel Insurance Distribution Pty Limited, ABN 40 129 262 175, AR 336467 is an authorised representative of nib Travel Services (Australia) Pty Ltd (nib), ABN 81 115 932 173, AFSL 308461 and act as nib's agent and not as your agent. This is general advice only. Before you buy, you should consider your needs, the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and Target Market Determination (TMD), opens in a new tab available from us. This insurance is underwritten by Pacific International Insurance Pty Ltd, ABN 83 169 311 193.
The discount applies to the total nib travel insurance premium and is for customers that currently hold an Australian health insurance product, an Overseas Student Health Cover product or an Overseas Visitors Health Cover product with nib. Discounts do not apply to the rate of GST and stamp duty or any changes you make to the policy. nib has the discretion to withdraw or amend this discount offer at any time. This discount cannot be used in conjunction with any other promotional offer or discount
#Figures are enrollments in health management programs for the full financial year July 1 2023 – June 30 2024 for nib and nib partner’s health insurance, nib overseas visitors and NZ health insurance members.
5nib Symptom Checker does not provide a medical diagnosis and should not replace the judgment of a registered healthcare practitioner. It offers information to assist you in decision making based on readily available information about symptoms. If you have questions or concerns about the results from nib Symptom Checker, please consult your registered healthcare practitioner.