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How much does private health insurance cost?

The average cost of private health insurance is around $160 per month for a single person. However, the price varies by factors from location to level of cover.

What you need to know

  • The cost of private health insurance varies based on cover type and tier, your age and income, how many people it covers, where you live and more.
  • You should compare health insurance on Finder to find a specific plan for your budget.
  • That all said, scroll down for more insight on the cost of private health insurance in Australia.

Average monthly cost of hospital cover in Australia

Hospital cover is available in four different tiers: Gold, Silver, Bronze and Basic. Each tier covers a government-mandated list of treatments, making it easier to compare like-for-like.

We regularly crunch the numbers for our entire database of health funds in order to work out the average premium for each tier of hospital coverage. The most recent calculations are on the chart below. Each tier includes 'plus' policies as well.

These averages are based on the prices from all states for policies with a $750 excess for a single policy holder, before any surcharges or the private health insurance rebate are applied. The price of your policy may be more or less than this, depending on your circumstances.

What can impact the price of my health insurance?

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.

Average cost of hospital cover in each state

The cost of health insurance varies by state. This is because the cost of private healthcare is more expensive in some locations, which increases the cost of insurance. For example, health insurance is significantly cheaper in the Northern Territory than it is in any other state.

Cost of extras cover by state

The current average cost of extras is $12.07 per month for a single 30-year old earning less than $93,000 per year. However, because extras policies are so varied, it's hard to generalise. You should compare health insurance with Finder's tools to work out how much your perfect extras policy is likely to cost.

We regularly run the numbers on our entire health insurance database to find the average cost of extras cover for each state. Our most recent calculations are shown in the chart below.

The cheapest hospital policies in Australia

'Cheapest' is a relative term for hospital cover. Whether you need health cover for tax or health cover for pregnancy makes a big difference. Luckily, the Australian government has a tier ranking for hospital cover, from Gold down to Basic. We've listed each tier below.

TierPolicy nameMonthly Premium
GoldSt Luke's: Gold Hospital $176.90
SilverWestfund: Silver Hospital$110.88
BronzePhoenix: Bronze Hospital$86.34
BasicFrank: Accident Only Hospital$77.50

Prices based on single 30-year old living in NSW earning less than $93,000 per year with a $750 excess. Analysis performed December 2023.

Remember, the cheapest policy is not always the best policy. Here's a good tip - when you're comparing hospital insurance policies, look out for 'Plus' policies. These products cover more treatments than the minimums required from each tier, often for just a few more dollars a month. They're often great value.

How much does health insurance cost?

We ask hundreds of Australians what they're paying for health insurance every month. Here's what they told us in April 2024.
  • Basic: $116
  • Bronze: $143
  • Silver: $168
  • Gold: $209
Price based on 1,000+ responses for single hospital insurance.

Why compare health insurance with Finder?

  • We don't ask for your phone or email to see prices.

  • With 1 click, you can open your results to nearly every fund in Australia.

  • You pay the same price as going direct – we charge no fees.

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