Rate Change 2026 FAQs
Private health insurers adjust their premiums every year, with government approval. This is due in large part to changes in healthcare costs and demand for services. Below you’ll find answers to commonly asked questions about Navy Health’s rate change.
FAQs About Rate Rise 2024
Private health insurers adjust their premiums every year, with government approval. This is due in large part to changes in healthcare costs and demand for services. Below you’ll find answers to commonly asked questions about Navy Health’s rate change.
Why are premiums changing?
In Australia, unlike other types of insurance, private health insurance is community rated. This means the cost of health cover isn’t determined by personal factors like your age, health, or how often you claim.
Premiums may rise each year to meet growing costs from more people using hospital and health services, including hospital admissions and medical treatments, as well as advances in medical technology.
Navy Health prides itself on being a not-for-profit, members-first fund and we have made every effort to keep any premium increases as low as possible, while ensuring we can sustain our fund now and into the future.
Why do premiums change on 1 April?
All Australian private health insurers are required by the Australian Government to apply premium changes from 1 April each year.
Can I lock in my current premium before the change?
Yes, you can choose to pay your premium (or a portion of it) in advance. If you make this payment and we receive it before 1 April 2026, your payment will be based on the current premium rates for the period in advance that you have paid. For that period, you, in effect, ‘lock-in’ your current rate. However, it is important to note, you can only pay up to a maximum of 12 months in advance from the date of your payment.
Please be aware that some forms of payments, such as BPAY payments, can take up to 3 business days for us to receive. As such, we encourage you to make any advance payments before 28 March to ensure it is received in time.
If you have already paid your premium in advance, you can only pay the difference between your current paid-to date and the future date you wish to pay up to, provided it does not exceed 12 months. The premium change will then only apply after your new paid-to date.
For example, if you decide to make a payment on 31 March 2026 and your cover is already paid until 1 November 2026, you can only pay for an additional 5 months to cover the period from 1 November 2026 to 31 March 2027. This ensures your premium remains at the current rate for the next 12 months. This payment must be made in a lump sum and received before 1 April 2026.
How do I pay my premium in advance?
If you would like to pay your premium (or a portion) for up to 12 months in advance, you can do so through the Navy Health App, the Member Portal, or by calling us on 1300 306 289 to make a payment over the phone. If your advance premium payment is received before 1 April 2026, your payment will be based on current premium rates.
Why is my premium change different from the average?
This year’s 2.88% average increase for our Fund is the average across all policies. This means that the change applied to your specific policy may be different. Individual premium changes vary based on factors such as the type of cover held, the cost of health services included in the level of cover and the State or Territory of residence.
Due to the community rated system, your personal factors such as medical history or claiming habits do not impact how much your premium may change. For example, all members in NSW with the same level of cover will receive the same base increase. However, there are several additional factors that determine how much you pay for your individual premiums such as Lifetime Health Cover (LHC) loading, the Australian Government Rebate, and the Hospital Excess that you have chosen.
Should I review my level of cover?
We recommend regularly reviewing your cover to ensure you have the appropriate cover for your needs and circumstances. Please don’t hesitate to call us on 1300 306 289 and we will be happy to assist with a review.
What if I’m experiencing financial hardship?
If you are experiencing financial hardship, we may be able to assist you. Please don’t hesitate to call us on 1300 306 289 and we will be happy to discuss options that could help.
Need further assistance?
If you require further assistance, contact us by calling 1300 306 289 or email query@navyhealth.com.au.
Do you know which cover is right for you?
Get a quote or if you still need help selecting the best cover to suit your needs, contact our experienced team for support.
