Find the best health insurance

The best health insurance will give you peace of mind and money back on treatments like dental and optical.

Updated Aug 11, 2020. What changed?

Fact checked

Lots of things can make one health insurance policy better than another. Maybe you want the highest level of cover or just decent dental. If you've already got health insurance, make sure that you're not paying for expensive cover that you may not need. If you're looking for the first time - always check the limits in your extras to see how much you can claim.

Your search for the best health insurance starts here

To give you a benchmark of what you can get for your money, these policies from Finder partners offer a mix of treatments. Prices are based on a single person living in Sydney. We looked at a Bronze and Silver level of cover with extras for common treatments such as general dental.

Name	Hospital treatments	Extras included	Price Per Month
ahm lite flexi bronze plus	Ear, nose and throat Joint reconstructions Dental surgery	Routine dental ($800 Combined) Physiotherapy Chiropractic	$122.90	Go to Site More Info	Compare	loading Fetching your data...
Australian Unity Starter Classic	Breast surgery (medically necessary) Joint reconstructions Bone, joint and muscle	Overall dental ($650) Optical ($200) Physiotherapy & exercise physiology ($350 combined limit)	$133.55	More Info	Compare	loading Fetching your data...
Medibank Bronze Everyday + Top Extras	Bone, joint and muscle Eye (not cataracts) Hernia and appendix	Ambulance services General dental ($800) Optical($200)	$137.10	Go to Site More Info	Compare	loading Fetching your data...
Suncorp Silver Everyday Hospital Plus + Everyday Extras	Lung and chest Heart and vascular system Emergency ambulance cover	Major dental ($450) Physiotherapy ($350) Optical ($200)	$146.29	Go to Site More Info	Compare	loading Fetching your data...
health.com.au Heart Hospital + Middle Extras 65	Rehabilitation Dental surgery Pain management	Overall dental ($700) Optical ($200) Natural therapies ($250)	$156.69	Go to Site More Info	Compare	loading Fetching your data...
Qantas Silver Hospital + Lifestyle Extras	Emergency ambulance cover Dental surgery Palliative care	General dental ($600) Physiotherapy($350) Chiro & Osteo($300)	$164.25	Go to Site More Info	Compare	loading Fetching your data...
nib Silver Hospital & Core Wellbeing Extras	Accidental injury benefit Dental surgery Emergency ambulance cover	Ambulance Natural therapies ($300) Psychology($300)	$166.25	Go to Site More Info	Compare	loading Fetching your data...

Compare up to 4 providers

*Quotes are based on single individual with less than $90,000 income paying $500 excess and living in Sydney.

Looking for the best health insurance? Continue your search here

The tool below lets you compare health insurance policies side-by-side - just enter your details, choose the level of cover you'd like, then click search policies.

Once you have your quotes, you can then refine your search so it's tailored to your needs. Just tick the benefits that are most important to you, and we'll only show you policies that match.

Working out which is the best policy for you

Finding the best health insurance doesn't have to be hard but it does require you to answer a few questions. You need to work out what's most important to you. Are you:

One of the sad realities of the Medicare Levy Surcharge (MLS) is that some people get health insurance just to avoid getting slugged with the levy, which is between 1% and 1.5% of your annual income. This leads many people just grabbing the cheapest complying hospital option.
But just because you're being "forced" to get cover doesn't mean can't find the best option that both satisfies the MLS requirements and is more than just a junk policy. I mean, if you're paying for a policy, why not get something for all that money you're spending?
The other benefit come tax time is that you can claim a tax deduction thanks to the Private Health Insurance Rebate.
So, if minimising tax is the name of the game, select the "Reduce tax and paying lower premiums" from our comparison tool and it will search through policy options from over 30 Australian health funds. All you'll need to do is choose which option is the best health insurance for you.
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One of the other situations that crops up around tax time is the Lifetime Health Cover (LHC) loading and if you've turned 31 in the last year, is something you need to know about.
The LHC is a 2% loading that comes into effect from 1 July following your 31st birthday. Unfortunately, this loading doesn't stay at 2% but increases by that amount each year you don't have cover. So, if you wait until you're 40 to get cover, you'll end up paying an additional 20% on your premiums.
If this is the reason you're looking for cover, finding the right policy will depend on whether you just want to avoid the LHC or if you want a little extra. Use our quote comparison tool to weigh up your options so you can get the best policy at the right price. If you're just after the basics you might want to select "Basic cover with low premiums".
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If you're thinking about starting a family then private health insurance is probably on your list of priorities. Private health insurance is more than just a nice to have for expectant mothers as it provides you with cover for obstetrics, private rooms and other benefits not covered by the public healthcare system. You will need to get cover in advance, as most policies will have a 12 month waiting period for pregnancy-related benefits.
If cover for pregnancy is what you need, enter your details into our tool and select "Cover for pregnancy and childbirth" and see which health insurance best suits your needs.
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Don't need a policy with cover for hospital but still want to claim for benefits like dental and optical? Maybe a little massage? Hey, why not? Extras policies can be great value and cover you for items not covered by Medicare.
Finding the best extras policy is all about working out what you need covered and making sure you're getting the most out of your policy (Our very own Alex Holderness wrote an article on how she got $600 worth of value from her extras policy).
If you're after the best extras cover for you, select "Extras only" from our quote tool and see which extras policy fits you the best.
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As you get older your situation changes and it's important to find the option that suits your changing need best. Whether you're looking to switch from a family policy to something with less coverage or looking to increase your cover for services such as cardiology, it's important to review your options.
Our quote tool can help. Since you're going to be needing higher levels of cover as you get older, selecting "Better cover" might help you find the best option for you.
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Who are the best health funds in Australia?

No health fund is perfect for everyone - some focus on specific regions, some are only open to particular groups, and some operate for a profit, while others don't.

However, there are a few important points to consider when choosing your health fund - including how partner networks operate, how excesses and waiting times are applied, and what out of pocket costs you should expect.

Partner networks: Health funds partner with various medical professionals and service providers, so you can choose who performs your knee replacement or which dentist does your root canal. However, if your preferred service provider isn't in your health fund's partner network, you might not be able to claim as much money back.
Excesses: You may have to pay an excess if you're admitted to hospital and opt for private treatment - but the amount will vary depending on your health fund and specific policy.
Wait times: Health funds often apply wait times on certain procedures - this means if you buy a policy today, you might not be able to make a claim for a certain treatment until months - or even years - later.
Out of pocket costs: Health insurance doesn't always cover all of the costs associated with an illness or injury - usually, you'll only be paid a percentage of the final bill, up to a certain limit.
Best for rural: If you live rurally or regionally, it's worth finding out how a health fund will make its benefits worthwhile to you. Some health funds are focussed on specific regions - like HBF, which services Western Australia.

Others, including HCF, offer travel and accommodation benefits while some, such as Bupa and Medibank, are rolling out online health services and live video conferencing with medical professionals.

Private hospital cover is available in four different tiers - basic, bronze, silver, and gold - which provide increasingly comprehensive cover as you ascend through the levels.

However, this doesn't mean that all gold policies will be the same - features still vary between different policies, so it's important to compare before you buy.

Best private hospital cover

For the 2019 Finder Awards, we compared 23 gold policies, 45 silver policies, and 25 bronze policies - according to our methodology, these are the funds that came out on top:

Gold: Phoenix Health Fund Limited Gold Top Hospital $500 excess
Silver: CUA Health Limited Standard Hospital $500 Excess (Silver Plus)
Bronze: HBF Health Limited Bronze Hospital Plus $500 excess

Best private health insurance for families

You can choose health insurance which matches the needs of you and your family - whether you're just in the planning stage, you've already got children, or you're wrangling unruly teenagers. Make sure to look out for some key features which might be particularly useful:

Pre-pregnancy - If you're hoping to start a family in the near future, it may be worth investing in a gold-level policy, so you can get money back for fertility treatments as well as pre and post-natal care. Keep in mind if you want private hospital care for your baby, there may be a waiting period - usually at least 12 months - between when you took your policy out and when you can claim.
Children - Find child-friendly health insurance by looking for policies that offer cover for your kids at little or no extra cost. Some policies will waive the hospital excess if your child is admitted to hospital, while it's also worth checking for no-gap dental benefits.
Teenagers - Most health insurers will cover dependent children up to the age of 18, but if you think your kid would benefit from the support for a little longer, you can choose a health fund which lets you extend the age limit to for children up to age 25 - providing they're still a full-time student and remain unmarried.

Best for extras coverage

Extras cover is designed to help with the cost of non-hospital healthcare - so things like dental treatments, prescription glasses, and physiotherapy are usually included. Emergency ambulance transport can also fall under extras, along with psychology consultations.

There are some important factors to consider when choosing which extras cover is best for you.

Inclusions - Not all extras are created equal. You may find two policies which are similar in price but have different inclusions.

For example, nib's Core and Family Extras policy doesn't include psychology treatments but Medibank's Top Extras 55 policy will pay out $200 towards psychology treatments.

Waiting periods - Health insurers enforce waiting periods on certain treatments - but every provider applies waiting periods differently.

For example, ahm's Lifestyle Extras cover has no waiting period on optical or routine dental. However, CUA's Classic Extras cover - which costs a similar amount - comes with a six-month wait period for optical and a two-month wait for routine dental.

Limit amount - There'll also be a limit to the amount you can claim for each specific treatment - again, this will vary between different health insurance policies. Medibank's Growing Family 60 cover has a $300 limit for physiotherapy, while CUA's 60% Extras cover has a $500 limit.

Costs covered - Extras cover won't always pay the whole cost of a treatment - instead, it will cover a percentage of the final bill. The table below shows the average percentage of costs covered by different health funds.

The below table shows the average amount of costs covered by service:

Fund name (Open membership funds)	Dental [1]	Optical [1]	Physiotherapy	Psychology
Australian Unity	46.20%	64.80%	62.30%	34.20%
BUPA	54.30%	56.70%	48.90%	42.20%
CDH	39.80%	51.40%	49.70%	21.70%
CUA Health	50.50%	60.70%	39.30%	35.30%
GMHBA	52.00%	58.30%	48.80%	46.80%
GU Corporate	79.20%	67.20%	82.80%	78.20%
HBF	60.80%	59.10%	44.10%	42.40%
HCF	58.30%	57.30%	43.80%	46.70%
HCI	53.40%	53.60%	44.60%	33.70%
health.com.au	50.30%	45.90%	60.00%	0.7%
Health Partners	60.30%	53.90%	59.20%	32.60%
HIF	49.00%	59.90%	36.80%	34.20%
Latrobe	32.60%	54.10%	33.20%	33.10%
MDHF	61.80%	65.40%	43.00%	27.30%
Medibank (includes ahm)	52.50%	68.10%	47.80%	30.80%
nib	56.00%	53.40%	58.40%	55.20%
onemedifund	58.90%	51.80%	53.20%	33.80%
Peoplecare	49.10%	61.60%	40.30%	38.50%
Phoenix	57.20%	61.30%	50.20%	41.20%
QCH	52.30%	58.70%	46.60%	44.30%
St Lukes	64.60%	75.90%	52.40%	48.50%
Transport Health	55.50%	58.30%	45.60%	29.90%
Westfund	54.70%	53.60%	50.00%	39.30%

[1] For some funds, the data does not take account of discounts at some providers or fund Dental / Optical centres.
Source: https://www.ombudsman.gov.au/publications/reports/state-of-the-health-funds/all-reports/docs/2018-state-of-the-health-funds-report

Best sign up deals for August 2020 from Finder Partners

Check the deals below before buying health insurance and you could save money on your premium - or get a reward for signing up.

Get 4 weeks free + Waive 2 & 6 months waiting period on extras

Join eligible combined hospital & extras cover by 31 August 2020 for new members.

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Get up to $300 off + Waive 2 & 6 month waiting periods

Offer applies when joining hospital + extras cover by 30 September 2020.

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Get up to 110,000 Qantas Points when joining or switching to Qantas health insurance

Offer applies when joining with hospital and extras cover by 31 August 2020. T&Cs apply.

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Get up to $300 off + Waive 2 & 6 month waiting periods

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Health.com.au deals

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Offer applies on selected combined covers. Ends on August 31, 2020.

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Get 1 month free + Skip 2 & 6 month waiting periods

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3 Aug 2020	Get $100 gift card + 10% off on extras premium (with combined cover)	********
3 Aug 2020	Get up to $300 off + Waive 2 & 6 month waiting periods	********
3 Aug 2020	Get up to 110,000 Qantas Points when joining or switching to Qantas health insurance	********

Latest headlines

More ways to get value for money

Pay your premium in advance to avoid the administration fees associated with monthly payments.
Opting to pay annually via direct debit can get you a discount with some health funds.
Pay an excess or co-payment to lower your premium in exchange for paying a lump or daily sum if you go to hospital.
Join a restricted membership fund if you are eligible, as the premiums are usually lower and benefits to members higher.
Mix and match your hospital and extras cover, as two different funds may have the best* offers on each.
If insuring your family, check how long your children can stay covered under your policy.
To avoid paying a gap, make sure your preferred doctor and hospital both have agreements with your health fund.

Useful info for first-time buyers

How do I find the right dental cover

Around 50% of all extras claims in 2016 were for dental. People tend to prioritise dental in their extras cover because it can be prohibitively expensive and is not covered by Medicare.

How can government schemes affect me?

The Australian government penalises people who earn over a certain amount if they don't have health insurance. It also offers rebates for taking out cover if they earn under a certain amount.

Public or private? That is the question.

If you're still on the fence about health insurance, this article has further information that may assist you in deciding if the private system is for you or if Medicare fits your needs.

Remember, it's important to compare your options and other financial avenues before applying.

Picture: Philipe cavalcant, Rawpixel, Kyle Loftus, Andrew Neel - Unsplash
*Disclaimer: The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Picture: GettyImages

Thank you for your feedback!

Richard Laycock

Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. When he’s not doing deep dives on data, he is testing the quality of cocktails in his newfound home of New York. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance.

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2 Responses

MichaelFebruary 15, 2017

Which private health insurance companies offer the best reimbursement of the cost of hearing aids?

Reply
- finder Customer Care
  
  ZubairFebruary 16, 2017Staff
  
  Hi Michael,
  
  Thank you for your question.
  
  If you would like to review the cover limits of Australian funds for hearing aids please head over to our health insurance for hearing aids article.
  
  Cheers,
  Zubair
  
  Reply

Find the best health insurance

The best health insurance will give you peace of mind and money back on treatments like dental and optical.

Types

Funds

Guides

Government Schemes

Popular Pages

Get exclusive healthy living offers and guides

Your search for the best health insurance starts here

Compare up to 4 providers

Looking for the best health insurance? Continue your search here

Health funds in Australia

Working out which is the best policy for you

Minimising tax?

Turning 31?

Starting a family?

Needing extras?

Getting older?

Who are the best health funds in Australia?

No health fund is perfect for everyone - some focus on specific regions, some are only open to particular groups, and some operate for a profit, while others don't.

Best private hospital cover

Best private health insurance for families

Best for extras coverage

Best sign up deals for August 2020 from Finder Partners

Popular Health insurance deals coupon codes

More ways to get value for money

Useful info for first-time buyers

How do I find the right dental cover

How can government schemes affect me?

Public or private? That is the question.

Remember, it's important to compare your options and other financial avenues before applying.

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Richard Laycock

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