The number of Australians who have dropped their private health insurance in the past five years is likely to top 2.2 million, a figure that will heap further pressure upon federal Health Minister Greg Hunt to tackle premium affordability as the funds prepare to hike them again.

A survey of more than 1000 adults conducted by YouGov Galaxy on behalf of the medical devices industry found that a quarter previously had private health cover but no longer did, with 47 per cent – equating to 2.23 million people – saying they had dropped it within the past five years.

Mr Hunt is consulting on a second wave of reforms to the private health sector, aimed at keeping a lid on premium increases, after announcing an average 2.92 per cent rise to kick in from April 2020, and has promised a further reduction to the cost of medical devices in private hospitals.

Health insurance is becoming less popular as costs rise. Credit:Nic Walker

Medical Technology Association of Australia chief executive Ian Burgess, who commissioned the research, said efforts to improve the value and affordability of health insurance would "come to nothing" if younger members and families continued to drop out.