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Table of Contents
How much does private health insurance cost?
That depends on the level of cover you have. Most health funds in Australia offer a low, medium and high level of cover for both hospital and extras health insurance. You’ll often see these labelled as Gold, Silver, Bronze or Basic.
We’ve crunched the averages below from over 10 Australian health funds to give you an idea of what you can expect to pay for each month. Prices quoted are based on a single policy in Sydney, earning less than $90,000 with a $500 hospital excess from April 2019.
| Basic | $79.86 |
Ambulance cover |
| Bronze | $90.87 |
Joint replacements, adenoids and cancer |
| Silver | $126.81 |
Dental surgery, lung, chest and heart issues |
| Gold | $170.90 |
Pregnancy, IVF and weight loss surgery |
| Low | $12.85 |
One no gap dental check-up Physio |
| Middle | $34.95 |
Approximately a $600 dental limit Optical, physio, massage and major dental |
| High | $81 |
No waiting periods on dental and optical All the above plus hearing aids, laser eye |
How to compare health insurance
It can be tricky to compare apples for apples with health insurance. Whether you’re switching or looking for the first time, here are a few tips that may help. They may even save you some money.
See how much you’re paying. Get a starting point of what you’re paying now. If you’re on a couples policy, see if you both need to be on the same level of cover or if you’d be better off looking at two singles policies (if one of you is pregnant or planning to be, for example).
Look at your hospital and extras separately. It’s easy to just go for a combined package, but by reviewing your hospital separately you can mix and match your level of cover. You can also choose different funds.
Explore all options. There are over 30 health funds in Australia, don’t just stick on the same policy as your parents or friends. It’s a regulated industry so you can feel safe exploring your options.
See what you’re actually paying for. Review your extras limits and make sure you claim them every year. Drop the things you’re not using.
Switch and use deals. There are no real downsides to switching funds, as you can carry over your waiting periods and often save heaps. Make sure you check out any sign-up deals every time you switch.
Compare types of private health insurance
It’s up to you to decide what type of private health insurance you’d like cover for. Here’s how many Australians have health insurance in 2019.
Public vs private health insurance comparison
Not sure if private health insurance is worth it? Here are some key differences between the public and private healthcare system in Australia:
| Doctor | A public hospital will allocate a doctor for you. You don’t get to choose. | You can choose which doctor you see. |
| Private room | You’ll likely end up in a shared room in a public hospital. | Insurance gives you access to a private room if there’s one available. |
| Waiting lists | Waiting lists for elective treatments can range from a few weeks to a few years. | Private insurance usually involves a shorter wait. For some procedures, you may even be able to pick your date. |
| Treatment types | Medicare doesn’t cover most dental, hearing aids or other out-of-hospital treatments. | Extras can give you cashback on out-of-hospital services such as optical, dental, psychology and hearing aids. |
| Ambulance costs | In most cases, Medicare won’t pay for your ambulance except in Queensland and Tasmania. | Most health funds include cover for an emergency ambulance, even on Basic policies. |
Live sign-up deals for health insurance
ahm Deals
Get 6 weeks free + Skip 2 & 6 month waiting periods
Get 6 weeks free after 60 days. Offer applies for hospital + extras combined policies.
Last verified
Coupon code ends
Medibank Health Insurance Deals
Get 6 weeks free + Waive 2 & 6 months waiting period on extras
Join eligible combined hospital & extras cover by 30 June 2020 for new members.
Last verified
Coupon code ends
nib Health Insurance Deal
Get up to $300 off + Skip 2 & 6 month waiting period on extras
Offer applies when joining hospital + extras cover online. Ends April 23, 2020.
Last verified
AAMI Health Insurance Deals
Up to $300 off + Skip 2 & 6 month waiting periods
Offer applies when joining hospital + extras cover. New members only.
Last verified
Qantas Health Insurance Deals
Get 100,000 Qantas Points when joining or switching to Qantas health insurance
Offer applies when joining with Gold hospital and Top extras cover by 17 May 2020. T&Cs apply.
Last verified
Suncorp Health Insurance Deals
Up to $300 off + Skip 2 & 6 month waiting periods
Offer applies when joining hospital + extras cover. New members only.
Last verified
CUA Health Deals
Get an eGift card upto $400 when joining hospital + extras
Offer applies to new members with signing up for combined cover. T&Cs apply.
Last verified
Questions you may have about health insurance
Who offers health insurance in Australia?
How many Australians have health insurance?
There are just over 13.5 million Australians with private health insurance. That’s over half (54%) of the country’s population.
How do I find health insurance for specific treatments?
Compare your options in our guides designed for specific treatments:
What happens if I cancel health insurance?
If you cancel your health insurance, you won’t be entitled to the services you would have otherwise had access to. This means you would have to pay out of your own pocket for a trip to the hospital.
Do I have to re-serve waiting periods if I switch?
You often won’t have to re-serve waiting periods if you had similar or equivalent cover with another provider. However, if you’re upgrading or didn’t previously have cover for a service that your new policy includes, you will probably have to serve a waiting period.
Is health insurance tax-deductible?
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