For the first time in half a decade, the 15 million Australians with private health insurance face a steeper rise in their annual premiums.

On Wednesday, private health insurers will submit their proposed insurance premium changes to Federal Health Minister Mark Butler for review.

New analysis by Money.com.au shows next year's premium increase will break a five-yaer trend to align closely with health inflation.

Soaring private hospital costs and wage increases are expected to drive up the cost of premiums.

Money.com.au general manager of health insurance, Chris Whitelaw, said since 2021 and the aftermath of the pandemic, premium increases have been restrained but that is due to end.

"Their pricing buffer is running out, and the private health sector is likely to recalibrate after s

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