1 in 5 of Australians regret no insurance as premiums rise 4.41%

Average policyholders already pay about $164.2 monthly for coverage.

About one in five Australians regret not taking out private health insurance earlier, according to new research by Finder.

A survey of 1,011 respondents found that 19% of Australians, equivalent to around 4.1 million people, wish they had secured cover sooner.

Of these, 12% said they were not covered for a minor health issue, such as a dental visit, whilst 7% said they lacked cover when faced with a major health problem.

Finder said the findings point to a growing issue of underinsurance, with many households exposed to unexpected medical costs.

Taylor Blackburn, personal finance and insurance specialist at Finder, said delaying coverage to save on premiums can lead to higher expenses later when unplanned treatment is needed.

The survey comes as Health Minister Mark Butler approved an average increase of 4.41% to private health insurance premiums, the largest rise in a decade. 

Some gold-tier policies are expected to increase by as much as 25%.

Finder data shows Australians with private health insurance currently pay an average of $164.2 (A$238) per month. Based on the approved increase, this would add around $86.9 (A$126) per year to premiums.

The research also found that 39% of Australians have always had private health cover and are satisfied with their decision, whilst 27% have never taken out a policy. 

Meanwhile, 15% said they have always had cover but wish they did not.

Younger Australians appear more likely to regret not having insurance when serious health issues arise.

Around 16% of Gen Z respondents said they wished they had taken out coverage before experiencing a major health event, compared to 7% of millennials, 3% of Gen X, and 1% of Baby Boomers.

Finder’s Consumer Sentiment Tracker, which has been running since May 2019, is based on a monthly nationally representative survey.

The latest figures are drawn from responses collected in February 2026.

($1.00 = A$1.46)