Almost a third of Australians say their private health insurance is now unaffordable as this year's premium increase has eaten into the budgets of households across the nation.

Fresh research from comparison site Finder shared exclusively with SkyNews.com.au revealed the average 3.73 per cent health insurance premium increase – the highest bump since 2018 – has been an immense financial strain on many Australians.

At least 29 per cent said their health insurance policy is now unaffordable.

This is equivalent to about 4.4 million Australians who admitted they are grappling with health insurance costs since the latest increases on April 1 .

Finder insurance expert Taylor Blackburn said the financial burden could mean millions of Australians may have to drop their private health insuran

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