Medibank to raise premiums by 3.3%, lowest average increase in 18 years

Company News

by Anna Napoli

Medibank (ASX:MPL) is set to increase health insurance premiums by an average of 3.3 per cent next year, the lowest average increase in 18 years.

Private health funds across Australia have today received approval from the Federal Minister for Health, Greg Hunt for changes to health insurance premiums.

Mr Hunt has today hailed the changes to premiums as the smallest  increase since 2001.

Medibank will also adopt voluntary discounts for 18 to 29 year old on hospital polices, effectively reducing its average premium increase to 3.09 per cent.

The reforms are designed to make private health insurance more affordable and easier to understand.

Shares in Medibank Private (ASX:MPL) are trading 2.1 per cent higher at $2.41.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.