15 million Australians with private health insurance have woken to another cost-of-living hit under Labor.

In this middle of a cost-of-living crisis, the Albanese Government’s private health insurance premium increase will come into effect on 1 April this year.

At an average of 3.73%, this cost hike is above the rate of inflation.

This comes at the same time that core inflation has risen once again and it will only add to skyrocketing health costs – which are up 10.2% under Labor.

Prices continue to go up at a rapid rate for hard-working Australian families, and Labor’s private health hike will now add further pressure on household budgets.

Shadow Treasurer Angus Taylor said under Labor Australians have taken the biggest hit to their standard of living in our history.

“This above-inflation hit to health insurance is adding to the pain Australians are feeling under this weak and hopeless government,” Mr Taylor said.

“This price hike will eat away at any relief Australian families received as part of last week’s interest rate cut.

“The cost-of-living pain for hardworking Australian families is far from over. There is a long journey to get Australians back on track.”

Shadow Minister for Health and Aged Care, Senator Anne Ruston said that the premium rise was another hit to Australians’ household budgets at a time when they can least afford it.

“The Albanese Government has hidden this cost hike for months, leaving Australians with private health insurance minimal time to prepare their budgets and shop around,” Shadow Minister Ruston said.

“It was Labor who cut the private health rebate when last in government, which has had a lasting negative impact on the affordability of private health insurance in Australia.

“Health has become another victim of Labor’s cost of living crisis.”

Australians need a strong economy to beat inflation and restore living standards – including affordable healthcare - and only a Dutton Coalition government will deliver that relief.

ENDS