• nib to increase health insurance premiums by average of 5.79% from 1 April 2025
• Higher healthcare costs, demands from private hospitals, and service utilisation impact premiums
• nib remains focused on delivering value for members

nib holdings limited (nib) (ASX: NHF) announced that its 2025 health insurance premiums will rise by an average of 5.79%, effective 1 April 2025, following approval by the federal Minister for Health, Mark Butler. nib Managing Director and Chief Executive Officer, Ed Close, stated that the increase reflects higher healthcare costs, and increased utilisation of services. Medical costs remain high, especially hospital costs, wages, and medical supplies, which drive premiums up. nib has also renewed major contracts with Australia's private hospital sector in recent months, which is also reflected in the premium increase. These contracts ensure access to services and limit out of pocket costs for members. nib continues to expand its provider networks, with the introduction of 'Known Gap' in October 2024, which provides eligible members with capped out of pocket expenses when treated by a participating specialist. nib has also expanded its 'No Gap' services, ensuring eligible members can access zero out of pocket costs across some general and preventative dental procedures, when treated at one of 200 participating dental centres across Australia. The premium increase also includes the NSW Government's request for higher payment for private rooms in public hospitals, effective 1 January 2025, which will cost nib more than $20 million per annum. nib is motivated to deliver value for members and has attempted to limit the increase in premiums for all members, especially those in lower-tier policies.

nib estimates the NSW Government's request for higher payment for private rooms in public hospitals, effective 1 January 2025, will cost the company more than $20 million per annum.