Every year, Australian health insurance rates can increase but 2020 will see the lowest average increase to premiums within the field in 19 years.
The past two decades have seen health cover premiums go up anywhere from 3.25% to 6.2% per year. This year, the request from the industry was for a 3.52% rise, but the final government-approved increase came in at just 2.92%. The increase will go into effect 1 April 2020.