Private health insurance to rise $250 a year for families

PRIVATE health insurance costs are expected to rise up to $250 per year with the announcement premiums will rise by 6.18 percent on April 1. 

Research and comparison group Canstar has said that the increase would equate to an average of $250 per annum for a family with a hospital and extras package and $100 for a young single person. 

With the increase equating to three times more than current inflation Canstar Research Manager Mitchell Watson said it was important customers found the best value on offer. 

"With increases in premiums set to put more pressure on household budgets, it's crucial that families go over their policies with a fine-tooth comb," he said. 

"For most, taking out health insurance is a major financial commitment and you should be sure you are getting the best value cover for your needs."

A 6.18% increase in premiums would mean couples and families across Australia with a hospital and extras package will pay around $250 a year more for their health cover.

In several states, the increase is more than $260. Victoria and Tasmania, where average prices are already high, families would see their annual premium increase by more than $260 per year.

Topics:  insurance private health private health insurance

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