Premium review

Premium changes came into effect on 1 October 2023.

Learn more about why premiums are reviewed annually by health funds below.

Each year health insurers review the cost of healthcare and use this information to adjust premiums. These changes usually take place in April, but Frank instead froze premium increases until 1 October 2023 in order to return further value to members.

Why are premiums reviewed annually?

Put simply, the cost of healthcare delivery continues to increase in Australia. Costs are driven by:


Increased cost of health service delivery


An ageing population and people living longer


Increases in chronic conditions


New medical technologies and treatments


Frequently Asked Questions