How much does private health insurance cost?
The average cost of private health insurance is around $166 per month per person.
We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .
The cost of private health insurance varies depending on a variety of factors, from location to level of cover. We compared a range of policies from 30+ funds in Australia to find out which fund offered the cheapest, most expensive and the average cost of cover in each state.
We found the average hospital policy cost in Australia is around $2,000 per year. While an extras policy could cost you roughly $850 per year.
Compare health insurance costs in October 2020
Simply pick your choices below to see a cost comparison from Australian health funds.
Average costs for each health insurance tier
On April 1 2019, the government launched a new tiering system for hospital cover - we checked the averages across 10 funds here in Australia. The prices below are based on a single policy, in Sydney NSW for Hospital Cover and do not include extras.
Which were the most expensive policies?
Standing out isn't always a good thing. One policy that jumped out was the Ultra Health Cover SPFWAC from Medibank in Victoria, which cost a staggering $1,152.75 per month for a single person. HBF came in a close second with its Ultimate with GapSaver $1200, which if you lived in Western Australia would set you back $1,132.90 per month.
Across Australia three policies from three funds were consistently the most expensive:
- HBF. Ultimate with GapSaver
- Medibank. Ultra Health Cover
- Westfund. Platinum Plus
|HBF||Ultimate with GapSaver||WA||$623.70|
|Medibank||Ultra Health Cover||VIC||$526.70|
|Medibank||Ultra Health Cover||QLD||$489.70|
|Bupa||Ultimate Health Cover||VIC||$469.65|
|Medibank||Ultra Health Cover||SA||$464.90|
|Medibank||Ultra Health Cover||ACT||$464.30|
|Medibank||Ultra Health Cover||NSW||$464.30|
|Bupa||Ultimate Health Cover||QLD||$461.70|
How do Australian health insurers compare on cost?
HBF followed by Medibank and Westfund offered the top three most expensive combined policies, with the cheapest three combined policies coming from ahm in the Northern Territory.
If you live in Northern Territory, you can also take advantage of the country's cheapest extras policy from HCF, which is available for $6.27. Mildura offers the next cheapest policies at $10.67, which is available around the country. The most expensive extras policy in Australia comes from GU health, at $154.99 a month.
For a top hospital policy, health.com.au comes in at $237.41 per month. Restricted fund CDH sits at the top costing up to $285.32 per month. The cheapest hospital cover can be found in the NT with hbf for $23.42 per month.
How much does health insurance in different states of Australia
The table below is the average cost per state, across the various tiers of cover, of health insurance in Australia.
How does the cost of health insurance vary depending on the level of cover?
|Level of cover||Combined||General Treatment||Hospital|
You might like these...
Ask an Expert