What is the lowest-cost form of health insurance?

Basic plans are typically the cheapest hospital insurance policies you can get in Australia. They start from around $20 per week. Extras insurance is different. That only covers out of hospital treatments.

How much is health insurance in Australia per month?

The cheapest hospital insurance policy in Australia is around $80 per month in most states. However, the price changes depending on the level of cover you get (basic, bronze, silver and gold) and if you add on extras cover.

Which state in Australia has the cheapest health insurance?

The cheapest health insurance policies are available in Western Australia and the Northern Territory. A policy in those states costs as little as $60 and $30 per month, respectively. It's around $80 per month for the same policies in all other Australian states and territories.

Is private health worth it in Australia?

Not everyone needs health insurance. As long as you're entitled to Medicare , you'll be covered for free treatment in a public hospital if you're injured, fall ill or develop a medical condition in Australia. For many people, relying on Medicare is the cheapest option, but there are benefits to having private health insurance , and it can even save some people money. For example, if you earn over $101,000 a year, or $202,000 a year as a couple (including super and fringe benefits), you're hit with an extra tax unless you have hospital insurance. You can buy cover for less than the cost of the tax penalty, so it makes financial sense to get cover, even if you don't want it. Certain extras policies can also save you money if you regularly spend cash on non-hospital healthcare, such as prescription glasses, dental check-ups or even remedial massage. That's because you can easily claim back more than you pay in premiums over the course of the year. Remember though, private health insurance doesn't mean you'll get treatment for free. Whether it's a hospital or extras policy, you'll usually have some out-of-pocket costs. The exceptions are no-gap dental and no-gap optical , which are only offered by some health funds.

Can I save money if I switch to a new health insurance provider?

It's possible that the best way to get a cheaper health insurance policy is to switch to another provider. Switching health insurance is surprisingly easy, with all the hard work done for you, in the background.

Is couples health insurance cheaper than 2 singles?

No, 2 individual policies are the same price as a couples policy with the same level of coverage. In fact, buying couples health insurance may actually end up being more expensive than if you'd bought separate health insurance policies. That's because, in a couples policy, both members have to be on the same plan. So if one person wants top tier coverage, the other person has to get it too. If you and your partner want different levels of coverage, it's worth looking into individual policies instead. This is especially useful for health insurance for young adults , where only one of you may need health insurance for pregnancy , which is more expensive.

What is the cheapest health insurance that avoids the Medicare Levy Surcharge (MLS)?

You can avoid the Medicare Levy Surcharge (MLS) by holding any level of hospital cover that has an excess of $750 or less for singles, or $1,500 or less for couples and families. An extras policy does not count, it must be a hospital policy. The cheapest hospital options are typically basic cover policies . However, it can be worth looking at some bronze policies as they tend to cover a lot more and cost only a few dollars extra.

What is the average cost of health insurance in Australia?

The average cost of private health insurance in Australia is around $160 per month for a single person, which is around $1,900 per year. However, the price varies depending on things like your age , gender, location and the level of cover you want.

What is the least expensive type of health insurance?

The cheapest type of health insurance in Australia is Basic Hospital Cover , which offers limited coverage for essential treatments. If you're looking for cover solely to avoid paying extra tax , this is the type of insurance policy to look for.

At what salary should I consider getting private health insurance in Australia?

If you earn above $101,000 (individual) or $202,000 (family) annually, getting private health insurance can help you avoid the Medicare Levy Surcharge . This is currently (as of 2024) between 1% and 1.5%, meaning if you earn $100,000, you'll pay an extra $1,000 in tax. At this point, it may be more affordable to take out a cheap health insurance policy to avoid paying this extra tax.