nib announces 2026 health insurance premium changes

nib Group (ASX: NHF) today announced its health insurance premiums would rise an average of 5.47% following approval by The Hon. Mark Butler, Minister for Health and Ageing, Disability and the NDIS.

The increase has been kept as low as possible. It means a rise of $3.80 a week or less for more than half of nib’s policyholders.

nib said the premium increase reflects larger payments to private and public hospitals, higher healthcare costs across the sector, which continue to outpace general inflation, and a rise in the number of customers claiming on their health insurance.  

nib Group CEO and Managing Director Ed Close said the health fund is committed to delivering strong value for customers and will continue to work hard to drive healthcare affordability and accessibility for customers.

“During FY25, on behalf of customers, we paid more than $2.3 billion in claims, an increase of almost 9% on the previous year,” Mr Close said. “This translates into almost 400,000 hospital admissions and 4.3 million visits to the dentist, optometrist and other health care providers.

“We continue to invest in initiatives that help reduce out-of-pocket costs. By expanding our gap networks with providers, almost 80% of our customers now benefit from a no gap or known gap payment when treated by a medical specialist.”

Mr Close said nib is also focused on helping customers stay healthier and minimise unnecessary hospital stays. “We have supported approximately 22,000 of our customers who have a chronic illness, through our health management programs, and saved over 24,000 hospital bed days through our prevention and in-home initiatives,” he said.

nib also acknowledged that there is pressure on the healthcare system, particularly hospitals. During FY25, nib paid more than $1 billion to private and public hospitals and developed partnership agreements with several major hospital groups designed to drive more sustainable outcomes for customers.

“Private health insurance continues to play an important role in supporting Australia’s healthcare system,” Mr Close said. “In FY25, around 52,000 people chose nib for private health cover who were new to market, highlighting the continued relevance of private health insurance for Australians.”

This announcement has been authorised for release by Jordan French, nib Company Secretary.