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Health Insurance Victoria
Victoria is Australia’s most expensive state for health insurance, so it pays to compare. Victorians are also the less likely that average to have private health insurance in the first place!
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What you need to know
42.4% of Victorians have hospital cover. 50.2% have extras cover.
Victorians are quite a bit less likely to have hospital or extras cover than the average Aussie.
The price of health insurance in Victoria is higher than every other state.
The table below compares combined policies from Finder partners available in Victoria. It includes policies with Bronze, Silver and Gold hospital cover. It's sorted by value using the Finder score algorithm our experts use for the Finder health insurance awards. Prices are for a single person earning less than $93,000 living in Melbourne, with a $750 excess - learn why this matters here.
The Finder Score ranks every health policy in our database on value for money. We updated this monthly with data provided by Ombudsman.
We consider the 38 hospital treatment categories, plus the covered extras categories and the total extras benefit. We also use the average price for each product. Here's the breakdown of factors we consider.
Factors that affect your health insurance premiums
There are several factors that will change the price of your health insurance premiums, whether you get hospital or extras cover. Here are the main ones to consider.
Private Health Insurance Rebate: The price of your policy can vary by over 25% due to rebate. It's mainly based on your age and income.
Lifetime Health Cover Loading: If you don't have hospital cover after age 31, a 2% loading will be added to the price each year you don't have it.
State: The cost of medical care is different in every state, and that's reflected in your premiums.
Policy Excess: A policy with a larger excess will have lower premiums, but you will have more out of pocket costs when you claim.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Compare prices from 30+ Aussie funds in under 30 seconds.
The price of hospital insurance in Victoria
Victorian hospital premiums are the highest in the country, which sucks. However, premiums are standardised by state, so you'll pay the same whether you live in Melbourne, Morwell or Mildura. The table below lists the average monthly premiums for hospital policies from each of the 4 coverage tiers with a $750 excess. The prices are for a single person earning less than $93,000 a year living in Melbourne. The numbers are updated monthly.
42.4% of Victorians have hospital cover, while 50.2% have extras cover. That's less than the national averages, especially for extras. See the table below for more details. These numbers come from APRA's quarterly health insurance statistics in August 2023.
Hospital Cover
Extras cover
VIC
42.4%
50.2%
Australia
45.1%
55.0%
Hospital
Extras
Australia
45.1%
55.0%
NSW
46.6%
57.5%
VIC
42.4%
50.2%
QLD
41.1%
48.2%
SA
44.7%
59.5%
WA
54.4%
69.1%
TAS
41.5%
49.4%
ACT
53.8%
66.2%
NT
39.8%
44.7%
Why you can trust Finder's health insurance experts
We're free
Our health insurance engine is completely free to use. You pay the same as buying directly from the health insurer. Better still, we regularly run exclusive deals that you won't find on any other site.
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and you can compare nearly every health fund in Australia on the site (and find a better deal).
We're here to help
Since 2014, we've helped 350,000+ people find health insurance by explaining your options simply. We'll never ask for your number or email to see prices. We're here to help you make a decision.
Frequently asked questions
It's impossible to point to one specific 'best' health insurance policy, because everyone's need are different. When you compare different health insurance policies you'll need to consider your lifestage, cover needs and budget. We can help with that, but the final decision of what is 'best' is up to you.
Unfortunatley, health insurance is more expensive in Victoria than in other states. This is because the price of health insurance varies slightly by state, for reasons including taxes and the cost of private hospital care.
Tim Bennett is a Finder insurance expert. For over 10 years he's reported on news, politics, finance and other topics as a journalist and radio presenter. Tim's roles have included radio news reader and breakfast at the ABC, news producer for SBS and producer for Fairfax Media. Tim regularly appears as a health insurance expert on programs like Sunrise and SBS news, as well as in the Australian, The Daily Telegraph, The Courier Mail and more.
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