Private health insurers announce premium rises after Albanese government approves increases

Mark Butler says premiums will rise by 3.03% on average, as some providers outline larger increase

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The federal government has approved private health insurance premiums increases amounting to an average of 3.03% this year, but already one major insurer has said their prices will rise by 4.1%.

The private health industry has defended the rises as being below inflation and similar increases to other insurance products, but said costs to private health facilities like wages, staffing and cybersecurity were also on the rise.

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