Medibank gets nod to hike premiums

Medibank will hike premiums by, on average, 4.6 per cent from April, but the insurer says it's the lowest premium increase it has made in 15 years.

Health insurer Medibank has received federal approval to hike its premiums, on average, 4.6 per cent from April 1 for all Medibank and ahm products.

Chief executive Craig Drummond said the company had worked to reduce waste and inefficiency in the health system and the insurer's lowest premium increase in 15 years reflected its commitment to pass benefits on to customers.

Medibank said its customers and those of its affiliate ahm will receive a letter outlining the impact of the rises in coming weeks.