Australia’s largest listed health insurer has seen a rise in the number of customers taking advantage of its wellbeing programs, after lifting its annual earnings.
Medibank Private paid out $6.9 billion in health insurance claims to its more than six million customers in the 2025/26 year.
“Despite this, people continue to prioritise their health,” chief executive David Koczkar said on Thursday.
“More than half (or 57 per cent) of our health insurance customers are now engaging with our health and wellbeing offerings.”
Medibank posted a 27.5 per cent lift in 2025/26 net profit to $638.7 million for the year ended June 30.
Its underlying net profit totalled $636.8 million, up 2.9 per cent, on an eight per cent lift in health insurance revenue to $8.7 billion.
Medibank raised its health insurance premiums by an average of 5.1 per cent from April.
“The pressure on households is clear,” Mr Koczkar said.
“One in four people in Australia say they have delayed or avoided seeing a GP because of cost.
“Affordability isn’t tomorrow’s challenge – it’s today’s.”
The number of GP clinics in Medibank’s network charging no out-of-pocket fees has increased by 56 per cent, following the federal government’s bulk billing reforms.
“But the health system remains under strain,” Mr Koczkar said.
“That’s why we need to shift from funding illness to funding health, and why accelerating the health transition has never been more important.”
Medibank declared a final dividend of 10.9 cents, taking the total for the year to 19.2 cents.
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