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You pay the same price as buying directly from the insurer.How it works
1
Tell us about yourself
Answer some simple questions about yourself and what kind of cover you need. It takes less than a minute.2
Compare the results
Compare relevant policies from our database based on the factors you care about most, including price.3
Apply for a policy
Click straight through to the provider's site and apply for your chosen policy.Thousands of Australians compare health insurance with Finder every month
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What does private health insurance cover that Medicare doesn't?
Private health insurance gives you access to similar hospital treatments to what's covered by Medicare – but you get other benefits like your choice of doctor, private rooms, and wait times are significantly shorter. The amount you pay for health insurance depends on the tier of hospital cover you have.
If you're treated as a private patient in a hospital (either private or public), Medicare will cover 75% of the Medicare Benefits Schedule (MBS) fee for services that are listed on the MBS.
Your health insurance typically covers the other 25%, plus accommodation costs and theatre fees, depending on your level of cover and provided you have served relevant waiting periods. You will often be out of pocket for costs like the excess, and the gap between the MBS fee and the total cost of your procedure.
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 systems in Australia:
| Public system | Private health insurance | |
|---|---|---|
| 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. |
Pros and cons of health insurance
Pros
- Peace of mind for unexpected health issues or accidents
- Reduced wait times and choice of doctor
- Save on tax by avoiding the Medicare levy surcharge (MLS)
Cons
- New customers wait up to 12 months for some procedures
- You'll typically still pay towards your hospital treatment
- May not be worthwhile if you're under 30 or earn less than 101k
Compare, switch and get rewarded — only on Finder
Comparing health insurance on Finder doesn't just help you find a better deal. We also think you should be rewarded for your effort.
When you purchase an eligible health insurance policy through Finder as a new customer, you could receive a digital Visa gift card as a reward for switching. The value varies depending on the insurer and policy, so it's worth checking what's on offer when you compare.
You can check out the current health insurance rewards we currently have by visiting the Finder Rewards page.
Basic, Bronze, Silver, Gold cover: which is right for you?
- Basic is the entry-level tier and covers a small set of hospital treatments (like rehabilitation and palliative care). It’s mainly used to avoid the Medicare Levy Surcharge (MLS) or start building your Lifetime Health Cover (LHC) base rate.
- Bronze steps things up with cover for a broader range of treatments, including joint reconstructions and hernia repairs. It's a popular choice for younger, generally healthy people who want meaningful cover without paying for things they're unlikely to need.
- Silver covers everything in Bronze, plus a wider range of procedures, like joint replacements and spinal surgery. It sits in the middle of the market and suits people who want solid all-round protection.
- Gold is the highest tier and covers every clinical category set by the Australian government. That includes pregnancy, cardiac services and weight loss surgery. It's the most comprehensive and most expensive option available.
Which tier is right for you?
The right tier really comes down to your age, health, and what you actually want to use your cover for.
A healthy 28-year-old might find Basic or Bronze is all they need, as it’s enough to dodge the surcharge and build up their Lifetime Health Cover loading without overpaying. If you're planning a family, Silver or Gold with pregnancy cover is worth the investment. And if you're older or managing a chronic condition, Gold's comprehensive coverage may save you more in the long run than it costs.
One thing to keep in mind: Policies within the same tier aren't all identical. Insurers can offer more than the minimum required inclusions, so it's worth reading the fine print and comparing before you commit.
Extras cover explained
Extras cover is the part of private health insurance that helps with everyday healthcare costs outside of hospital, including things like going to the dentist, getting new glasses or seeing a physio.
What's typically included under extras cover?
Most extras policies cover some combination of the following:
- Dental
- Optical
- Physiotherapy
- Chiropractic and osteopathy
- Psychology
- Remedial massage
- Podiatry
- Speech therapy and occupational therapy
The specific services covered, and how much you get back, will vary between policies and insurers. A basic extras policy might only cover dental and optical, while a comprehensive one could include 20 or more services.
Is your health insurance actually keeping up with you?
Life changes, which means your health cover should too. Whether you've recently coupled up, had a baby, changed jobs or just hit a new decade, it's worth reviewing your policy at least once a year. Many Australians are either over-insured (paying for cover they'll never use) or under-insured (finding out too late that a treatment isn't covered). A quick annual check could save you hundreds.
Annual limits and waiting periods
Every extras policy comes with two key limitations worth understanding before you claim.
Annual limits cap how much you can claim per service, per year. For example, you might have a $500 annual limit on physio or a $300 limit on optical. Once you've hit your limit for that service, you're paying out of pocket for the rest of the year. Some policies also have an overall annual limit across all extras combined.
Waiting periods are the time you have to wait after taking out a policy before you can make a claim. Most general dental and optical claims have a 2-month wait, while major dental and orthodontics can require up to 12 months. Pre-existing conditions may attract longer waiting periods too.
How to compare and choose a health in 7 steps
With dozens of health funds and hundreds of policies on the market, knowing where to start makes all the difference. Here’s how to find the right option for your health needs:
- Work out what you actually need: Before you look at a single policy, think about how you use healthcare. Do you go to the dentist twice a year? See a physio regularly? Planning a family in the next few years? Your usage history is the best guide to what cover is worth paying for.
- Decide between hospital, extras or both: You can take out hospital cover only, extras only, or a combined policy. Hospital cover protects you from big unexpected costs, while extras helps with routine, everyday healthcare.
- Set a budget: Health insurance premiums vary a lot, so decide what you're comfortable spending per month, then look for the best cover within that range.
- Compare policies at the same tier: If you're shopping for hospital cover, compare like for like. For instance, two Silver policies can look very different. One might include psychiatric care or heart and vascular surgery as extras, while another keeps strictly to the minimum Silver inclusions.
- Check the extras limits: For extras cover, the benefit limits matter as much as the list of included services. A policy that covers physio but only pays back $200 a year may not go far if you're a regular visitor.
- Look at out-of-pocket costs: Some hospital policies use a "gap cover" arrangement with certain doctors, meaning you pay little or nothing beyond your excess. Check whether your preferred hospitals and specialists are covered, and what your potential out-of-pocket costs could look like.
- Read the fine print on exclusions: Every policy has treatments it won't cover. These are listed in the policy's product disclosure statement (PDS). It's worth skimming, especially if you have a specific condition or procedure in mind.
Our expert says
"A lot of people assume the cheapest policy offers the best value, but that's rarely true. The right cover is the one that actually matches how you use healthcare. Take ten minutes to think about what you've spent on health costs in the last year before you start comparing. That alone will tell you more than any policy name or tier label."
Our expert says
"Private hospital insurance covers all the same treatments as Medicare. The difference lies in the standard of care. It's kind of like choosing between a dependable budget car or something flashier. Both will get you from A to B but one is a faster and nicer place to be."
Expert insight
"I've always been a big proponent of private health cover – and geez I was glad I had it when I was diagnosed with breast cancer in 2021. With any unexpected serious illness, the type of treatment – and crucially the speed of it – could make all the difference."
Our expert says
"Health insurance is heavily regulated in Australia, which makes it easier to compare health insurance policies like-for-like. That said, funds still have different products and prices, so it's still important to make sure you're getting the right cover for you and your family."
Learn more about private health insurance
- Hospital Cover: Hospital cover helps pay for a range of hospital treatments in a private hospital. This can include joint reconstructions, hernia operations and childbirth.
- Extras Cover: Extras cover helps towards out-of-hospital healthcare. This includes trips to the dentist, eye care by an optometrist, physiotherapists, natural therapies and more. As of March 2025, 55.1% of Australians have extras cover.
- Health insurance rebate: The private health insurance rebate makes health insurance cheaper for most people. Your exact rebate is determined by your age and income.
- Private health and tax: Whether you're a high earner or turning 30, there are a few things you need to know about private health insurance at tax time.
- Switching health funds: Switching health funds is quick and easy. You can transfer your waiting periods, while potentially saving money with new sign-up deals.
I've saved $800 by switching
"Changing health insurance had been on my to-do list for ages, but I found it very confusing. Eventually I compared and took advantage of sign-up offers –by switching health insurers, I've saved around $800 so far."
Watch & learn more about health insurance
Health insurance guides and resources
How much does health insurance cost?
We ask hundreds of Australians what they're paying for health insurance every month. Here's what their bill looked like in March 2026.
- Extras only: $53
- Basic: $90
- Bronze: $144
- Silver: $184
- Gold: $285
Frequently asked questions about health insurance
Sources
Ask a question
HI My parents Are currently on BRIDIG VISA A as w applied for Subclass 864 Parets contributory visa for both My Mom age 71 and Dad 69. could You please suggest us a best insurance or a broker for the particular visa please.
Hi Singh, Finder is a financial comparison site so we aren’t able to provide information around visas or brokers. We also aren’t allowed to give financial advice around insurance products. If you are interested in researching health insurance for your parents, you can visit our Overseas Visitors Health Cover page. Hope this helps!
Ceyda
Hi
I am a NZ citizen working in the Aust for the last 5 years. Do you know any private medical insurance companies that covers Aust and NZ?
Many thanks
Hi Hester, thanks for your question.
Unfortunately, you won’t find a single private health insurer that will cover you on both sides of the pond with a single policy. This is mainly because Australia has a very highly regulated health insurance sector that leaves no space for multi-country cover.
Of course you are eligible for Medicare as a Kiwi living in Australia, so you certainly have full access to the public hospital system, as well as the ability to take out private hospital coverage. But if you want private cover in both countries, you’ll probably need a separate policy from 2 different health funds.
My health insurance is with Medibank and it costs $600 a month. My husband & I are both retired & cannotbafgord it. Need help.
Hi Nenita,
There are a few things you can do to bring costs down, I’ll leave some suggestions below.
1. Spend some time looking into what other policies are out there that offer the same coverage. When it comes to hospital cover, all providers have to cover the same things so it’s worth hunting around and seeing who can offer the level you need at a cheaper price. You can do this via our quiz and then sorting by price once the table loads.
2. If the pricing comes back and it’s still unsustainable for your budget, you could look at dropping to a lower level of cover. Of course, you’ll have to decide if this is the right move for you as it will mean losing access to some treatments. Be sure to read what you’ll be covered for and what you won’t be covered for before you decide to do this.
3. Have a look at the discounts available across a few insurers here: https://www.finder.com.au/health-insurance/health-insurance-deals. End of financial year (30 June) is a great time to look at switching providers because it’s when the insurers are offering their best deals and there’s some serious cash to be saved. Keep in mind, that link does not include the full market of health insurers and you’ll often have to hold cover for a minimum period of time before you become eligible for the deal.
I hope this helps and you’re able to find a better deal that works for you!
I am currently insured with Australian Unity. I have Classic Hospital with $750 Excess Silver Plus, with 64% loading. My annual membership is due next week and it will be $4094.99. So my question is are there health insurance providers that are cheaper. I will need to be covered for joint replacements.
Thanks
Hi Nellie, The cost you’ll pay will depend on your age and income, as well as the loading involved. There are certainly silver plans with a lower base cost in our database – if you take the quiz at the top of this guide, you can compare your options. You might also find our guide to health insurance for joint replacement useful. Hope that helps.
Hello,
I have been switching health funds every year for the past few year’s now.
I’d like to think that I’ve saved some but life is getting expensive.
My question is, is this a short term gain? Or is there a possibility of getting a member discount if I stick with one fund for longer?
Hi Angus, Health funds raise their fees annually, and you’re unlikely to score a direct discount just because you’re a long-term member. That said, many health funds do have loyalty schemes that offer increased cover for some extras or specialist treatments – we have a full guide on what’s on offer there. That could provide a reason for sticking with one fund, but otherwise shopping around can still make sense, provided you’re not resetting waiting periods on services that matter to you.