nib postpones increasing health insurance premiums for Australians

The insurer will postpone the increase until 1 November.

Australian healthcare insurer nib has announced that it will again postpone increasing health insurance premiums for its Australian Residents Health Insurance (ARHI) members for an additional two months until 1 November 2022 to further support members impacted by the COVID-19 pandemic.

The premium increase was approved last 1 April but the insurer decided to postpone the increase for five months. The approved increase, averaging 2.66%, is the insurer’s lowest premium increase in 20 years. The announcement brings the premium postponement to seven months.

The postponement will apply to all nib ARHI members who hold an active policy between 1 April 2022 and 31 October 2022. Members who held an active policy as at 31 March 2022 but become no longer active between 1 July 2022 and 31 October 2022 will be eligible for a pro-rata give back instead.

nib said will notify eligible members of the premium postponement with the changes automatically applied to their health cover policy.

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