With the lowest premium rise in the industry, GMHBA keeps premium increases below industry average for fourth year running
GMHBA Ltd average premium increase of just 1.98% is the lowest of all health insurers and lower than industry average for the fourth year in a row
GMHBA is continuing to ease cost-of-living pressure for members in 2026, with the lowest premium increase in the industry.
Across all GMHBA Limited products, the average premium increase for 2026 is 1.98 per cent*, reflecting the not-for-profit fund’s ongoing focus on affordability, flexibility and access to care as households continue to face rising living costs. Frank Health Insurance members will also benefit from the value-focused pricing.
GMHBA was recognised for exceptional value and flexibility in 2025, earning top honours in the WeMoney Health Insurance Awards and six Canstar Outstanding Value Awards nationally and across five states.
GMHBA CEO David Greig said the 2026 pricing decision builds on a strong track record of delivering value for members.
“With cost-of-living pressures still front of mind for many Australians, we’re focused on making health insurance affordable and removing barriers to care,” Mr Greig said.
“As a not-for-profit health insurer, every decision GMHBA makes is guided by the best interests of our members and the communities we serve, not shareholders.”
Designed for value, flexibility and everyday health
GMHBA’s approach to pricing in 2026 builds on product changes introduced in 2025 to improve flexibility and value for members, including the SmartCare Extras range.
The SmartCare range introduced a combined limit model, allowing each member on a policy to use their extras allowance across a range of services, in a way that suits their individual health needs. Members who combine their SmartCare Extras with any eligible GMHBA hospital cover can also roll over unused extras limits (excluding optical) into the following calendar year^. This rollover applies to a wide range of services such as physio, chiro, general dental and more, helping members get greater value from their cover over time.
“Our SmartCare extras and low premium increases reflect GMHBA’s commitment to providing members with great value health insurance that genuinely meets their needs” Mr Greig said.
Removing financial barriers to hospital care
GMHBA’s 2026 premium approach also builds on measures already in place to reduce upfront costs for members requiring hospital treatment.
GMHBA remains the only major health fund in Australia to charge no excess on same-day hospital admissions across all available hospital products.
Eligible members** undergoing common same-day procedures, such as colonoscopies, endoscopies, eye surgeries and dental procedures, have their excess waived, a point of difference compared with many larger insurers, which can charge up to $750 for a single day admission.
“By waiving excesses on same-day procedures across eligible hospital covers, we’re helping members access care when they need it,” Mr Greig said.
Supporting members for more than 90 years
Annual premium reviews are conducted by all private health insurers^^ and reflect rising healthcare costs, including increased use of services, new medical technologies, an ageing population and higher rates of chronic health conditions.
“For more than 90 years, GMHBA has supported Australians to live healthier lives,” Mr Greig said. “We remain committed to delivering long-term value and standing by our members, particularly during challenging economic times.”
More information about GMHBA hospital and extras cover is available at www.gmhba.com.au.
*Provided there are no changes to any discounts or the Australian Government Rebate on private health insurance applied to the members’ premium and they remain on the same type and level of cover. Rebate percentages (rates) will be adjusted effective from 1 April 2026.
^To be eligible, members must hold SmartCare Boost Extras in combination with hospital cover for a full 12 months. The benefit resets on 1 January each year, and once the standard annual limit is reached, the rolled-over portion becomes available to use for the following 12 months.
** Does not apply to closed hospital products. All hospital waiting periods apply, including standard 2- and 12-month waiting periods and waiting periods for pre-existing conditions which may be up to 12 months.
^^ All Australian health funds review their premiums each year with any adjustments approved by the Australian Government Minister for Health and Aged Care.
Contact details:
GMHBA Head of Corporate Communications Meg Rayner: 0458 418 823 or [email protected]
