How much does private health insurance cost?

The average cost of private health insurance is around $166 per month per person.


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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 January 2021

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.

Hospital TierAverage
Disclaimer: This article was written using pricing data gathered in 2018 and is subject to change. Prices shown in this article should be viewed as illustrative only and not be used as a guide to how much you will pay for your cover.
Richard Laycock
About the author
Richard Laycock is the Insurance Editor at finder, and has been wrangling insurance Product Disclosure Statements for the last 4 years. When he’s not helping Aussies make sense of the fine print, he can be found testing the quality of Aperol Spritzes in his new found home of New York. Richard studied Journalism at Macquarie University and The Missouri School of Journalism, and has a Tier 1 certification in General Advice for Life Insurance. He has also been published in CSO Australia and Dynamic Business.

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
FundPolicyStateCost p/m
HBFUltimate with GapSaverWA$623.70
MedibankUltra Health CoverVIC$526.70
MedibankUltra Health CoverQLD$489.70
WestfundPlatinum PlusVIC$487.45
BupaUltimate Health CoverVIC$469.65
MedibankUltra Health CoverSA$464.90
MedibankUltra Health CoverACT$464.30
MedibankUltra Health CoverNSW$464.30
BupaUltimate Health CoverQLD$461.70$458.03

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, 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 coverCombinedGeneral TreatmentHospital
Basic (Private)$200.48$41.88$148.60
Medium (Private)$296.31$72.25$205.23
Top (Private)$300.06215.78$98.93

Picture: Shutterstock

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2 Responses

    Default Gravatar
    BonnieMarch 15, 2018

    I am thinking about making a permanent move to Australia. I would be paying cash for a home and would like to know what health insurance coverage would cost on average. I am a retired.

      Default Gravatar
      LiezlMarch 22, 2018

      Hi Bonnie,

      Thanks for reaching out to finder!

      Health insurance costs vary depending on which state you’ll reside and the level of cover you want. The tables above list down the average premium costs for each tier across different states. You may also refer to the comparison tables on this page for the starting costs of various overseas visitors health covers.

      Feel free to message us again if you have further questions.


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