Government Rebate 2026: Aussies Over 50 Could Save Hundreds

Over 65s to Lose Higher Health Insurance Rebate - Key Changes - Billy Explores AU
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Breaking News: Australian government is scrapping the higher private health rebate for over-65s
Sarah M
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Breaking News: Australian government is scrapping the higher private health rebate for over-65s
Over 3 million Australians aged over 65 will have to pay hundreds of dollars more for their private health insurance per year¹, in a move the federal government argues will re-establish fairness between generations.
For years, many Australians over 65 have benefited from a higher private health insurance rebate, helping reduce the cost of their cover. But recent government changes mean that for some older Australians, that higher rebate may no longer apply in the same way. And the impact could be noticeable.
And depending on your age and income, that support could be more substantial than you think.
It's not too late. Want to check if despite this policy change, you can still save money?
Step 1:  Select your current health fund below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*.
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Why some Australians over 65 may now pay more
The private health insurance rebate is a government subsidy that helps reduce the cost of premiums. The amount you receive depends on your age and income.
Previously, Australians over 65 could access a higher rebate tier. However, recent policy changes mean that some people in this age group may now receive a lower rebate than before, depending on their individual circumstances.
For some households, this could result in paying hundreds of dollars more per year for the same level of cover.
"I thought I was locked in…"
One of the most common misconceptions is that once your premium changes, especially after April 1, you’re stuck paying the new rate. But that’s not necessarily the case.
Many Australians don’t realise that you can review and switch your health insurance policy at any time.
What happens if you’ve already paid your premium? In most cases, if you cancel your policy, any unused portion of your premium is refunded on a pro-rata basis . That means you’re generally not locked into paying for cover you no longer want or need.
Want to be proactive, and begin to save on your premium today?
Step 1:  Select your current health fund below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*.
Other Provider
Without Provider
Why more Australians are reviewing their cover now
With changes to rebates and varying premium increases across funds, many Australians, particularly those over 65 are now taking a closer look at their policies.
Some are finding that their current policy no longer offers the same value, other funds may have lower increases, and they may be able to adjust cover to better suit their needs.
A quick way to check your options
Because pricing, rebates, and cover vary between funds, it can be difficult to know whether you’re paying more than you need to. That’s why many Australians are now using comparison tools to quickly review their options.
If you’re over 65 and have private health insurance, it may be worth taking a minute to see how these changes could affect you.
Billy Explores  allows Australians to quickly compare health insurance options and see how the rebate may apply to different policies — all in one place. Rather than navigating multiple insurers individually, the tool helps you:
󠁯•󠁏󠁏 View policies from a range of providers.
󠁯•󠁏󠁏 Check options based on your age and circumstances.
󠁯•󠁏󠁏 Better understand how new changes might impact you.
To get started, it's simple & quick:
Step 1:  Select your current health fund below.
Step 2: Once you answer a few basic questions, you will have the opportunity to compare quotes from multiple health funds*.
Other Provider
Without Provider
Before you decide anything…
It’s important to remember that rebate changes affect people differently depending on income and cover. Not all funds increase premiums by the same amount. And switching policies should always be based on your individual needs.
While recent changes may mean higher costs for some Australians over 65, it doesn’t necessarily mean you have to stay on a policy that no longer suits you.
For many, simply reviewing their options is enough to uncover better value.
See What You Could Be Eligible For
Billy Explores offers a free, no-obligation comparison tool that helps Australians explore their options in just a few minutes.
👉 Check your eligibility and compare health insurance options here
This article is general information only and does not take into account your individual circumstances. Private health insurance premiums, rebates, and eligibility are subject to change and depend on factors such as age, income, level of cover, and insurer policies. Any examples of potential cost increases or savings are illustrative only and not guaranteed. If you are considering switching policies, you should review the relevant policy details and consider whether the cover is appropriate for your needs.
Sources:
¹ https://privatehealthcareaustralia.org.au/cuts-to-private-health-insurance-rebate-disappointing-for-older-australians-health-insurers-say
²Australian Taxation Office (ATO), Services Australia. Rebate percentages and eligibility criteria are subject to change and depend on individual circumstances. References to recent government changes are based on publicly available information at the time of writing and may be updated.
*iSelect does not compare all health insurance providers or policies in the market. The availability of policies will change from time to time. Not all policies available from its providers are compared by iSelect and due to commercial arrangements, your stated needs and circumstances, not all policies compared by iSelect are available to all customers. Some policies and special offers are available only from iSelect’s contact centre or website. Click here to view iSelect’s range of providers.
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