Australian health insurance premiums just had their biggest hike in a decade. Is it time to scrap private health cover?

Government measures spur participation in private health insurance rather than delivering value, while the percentage of premiums paid out in benefits has dropped from 90% to 85%. Photograph: Angel Santana/Getty Images

The government has approved a 4.41% private health insurance premium rise from April – the largest hike in almost 10 years.

With consumers already grappling with cost-of-living pressures, including an interest rate rise earlier in February, more Australians are likely to be wondering whether keeping their private health insurance is worth it.