Insurer nib Holdings (ASX:NHF) has received approval to adjust its premium to 3.93 per cent, just below the industry average of 3.95 per cent, and the lowest premium increase for the insurer in 15 years.
In addition, corporate health insurer GU Health insurance premiums will increase by an average of 2.84 per cent, well below the industry average.
This comes after the Minister of Health Greg Hunt announced a drop in the health insurance premiums to the lowest level since 2001 today.
The changes are effective from 1 April 2018.
nib’s Chief Executive Officer Mark Fitzgibbon commented that the insurer remains focused on keeping health insurance affordable, and said the premium change reflects the increased cost and frequency of providing treatment to its customers.
Shares in nib Holdings (ASX:NHF) are trading 1.62 per cent lower at $6.66.