Health Insurance Cost comparison

How much does private health insurance cost?

Thinking about private health cover but worried about the price? Find out what you'll be paying for health insurance.

The big question about getting health insurance is simple: "How much is this going to cost?"

We thought we'd take some of the guess work out of the process. We compared 19,194 open private health insurance policies from each of the 35 funds in Australia listed on PrivateHealth.gov.au to find out which fund offered the cheapest policy, the most expensive, and the average cost in each state.

Disclaimer: This article was written using pricing data gathered in 2016 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.  

Which policies stood out?

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:

  • Medibank. Ultra Health Cover SPFWAC
  • HBF. Ultimate with GapSaver
  • Bupa. Ultimate Corporate Health Cover - Single Parent Plus
FundPolicyStateCost p/m
MedibankUltra Health Cover SPFWACVIC$1,152.75
HBFUltimate with GapSaver $1200WA$1,132.90
BupaUltimate Corporate Health Cover - Single Parent PlusACT$1,126.95
BupaUltimate Corporate Health Cover - Single Parent PlusNSW$1,126.95
BupaUltimate Corporate Health Cover - Single Parent PlusVic$1,117.30
HBFUltimate with GapSaver $800WA$1,099.55
MedibankUltra Health Cover SPFWACQLD$1,093.20
HBFUltimate with GapSaver $400WA$1,066.15
BupaUltimate Corporate Health Cover - Single Parent PlusQLD$1,058.45
HBFUltimate with GapSaver $200WA$1,049.50

How do the health funds stack up on cost?

Medibank Victoria followed by HBF Western Australia and Bupa New South Wales 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 coountry's cheapest extras policy from HCF, which is available for $8. Westfund offer the next two cheapest policies at $9.97, which is available around the country. The most expensive extras policy in Australia comes from Medibank, which is available to NSW residents for $471.65.

Doctors' Health Fund members in Victoria, Tasmania, South Australia and Queensland can all expect to pay $634.90 for a top hospital insurance policy. Once again, the Northern Territory has the cheapest policies, with HBF providing the cheapest hospital policy for $28.55.

Average cost of private health insurance by type per state

The table below is the average cost per state, across the various tiers of cover, of health insurance in Australia.

StateCombinedExtrasHospital
ACT$330.54$117.80$239.36
NSW$330.54$117.80$239.36
NT$267.42$107.50$181.60
QLD$339.11$116.35$252.44
SA$329.08$116.84$239.93
TAS$326.04$110.98$245.80
VIC$342.97$116.12$259.24
WA$313.52$116.13$217.84

How much does health insurance cost in the ACT?

How much does health insurance cost in NSW?

How much does health insurance cost in the Northern Territory?

How much does health insurance cost in Queensland?

How much does health insurance cost in South Australia?

How much does health insurance cost in Tasmania?

How much does health insurance cost in Victoria?

How much does health insurance cost in Western Australia?

Average cost of health insurance in Australia depending on the level of cover

Level of coverCombinedGeneral TreatmentHospital
Public$233.46n/a$136.25
Basic$266.26$54.59$191.51
Medium$343.45$109.02$244.38
Top$388.46n/a$275.05
Comprehensiven/a$162.68n/a

Methodology

Methodology:

  • 19,194 open private health insurance policies were compared from 35 health funds available in Australia. The data was gathered from privatehealth.gov.au.
  • Only single policies were analysed.
  • Some health funds don’t offer all levels and types of cover.

Compare your health insurance options online or with help from an adviser

Details Features
High 65 / 75 / 85% - $0/$250/$500 Excess
High 65 / 75 / 85% - $0/$250/$500 Excess
Combines High Hospital Cover with its highest level of extras cover.
  • Cover starting from $44.74 weekly
  • 12 month waiting period for pregnancy
  • 65% back on extras
  • Choice of $0, $250 and $500 excess
Enquire Now More info
Premier Package
Premier Package
Top tier combined hospital and extras policy that covers you for an extensive range of hospital and general treatment services.
  • All the benefits of HCI's Premier Hospital policy
  • All the benefits of HCI's Premier Extras policy
  • Cover for pregnancy and IVF treatment
  • Cover for general and major dental
Get Quote More info
Deluxe flexi
Deluxe flexi
Deluxe flexi provides cover for a range of treatments including hip replacement, spinal fusion, dialysis and major eye surgery.
  • No excess for kids
  • All joint replacements
  • Major eye surgery
  • Rehabilitation
Enquire Now More info
GoldStar
GoldStar
Premium hospital cover with complete cover for hospital expenses. Save 4% when you pay for 12 months of your cover upfront.
  • All theatre fees covered
  • Unlimited maternity cover
  • Choose no excess or $200, $400, $500 per admission
Get Quote More info
Smart Combination
Smart Combination
Smart combination provides a high level of cover for both hospital and extras.
  • Claim up to $2725 back on extras
  • Hip and knee replacements
  • General and major dental
  • Physio
Enquire Now More info
Prestige
Prestige
Highest level of combined cover offered by CBHS. Includes the same benefits as Comprehensive Hospital and Top Extras plus more. Restricted fund: Only current or former staff (and their families) of Commonwealth Bank Group and their subsidiaries which include Aussie, Bankwest, Colonial First State and more can join.
  • No excess or co-payments on hospital cover
  • Non-student dependent under 25 can be kept on policy
  • Access to Chronic Disease Management Programs
  • Widest range of extras including orthodontics
Enquire Now More info
Bronze Hospital (no pregnancy) and Bronze Extras Set Benefits
Bronze Hospital (no pregnancy) and Bronze Extras Set Benefits
High level of hospital cover and extras cover for a range of popular services including knee and should reconstructions.
  • Most comprehensive hospital options
  • Cover for general and major dental
  • Shared or single room in a private hospital
  • Intensive and coronary care
Enquire Now More info
Premium Hospital and Silver Extras Cover
Premium Hospital and Silver Extras Cover
Comprehensive hospital cover including pregnancy cover. Also included affordable mid-level extras cover for dental, optical and therapies.
  • Cover from $39.50 per week
  • Pregnancy and birth-related services cover
  • Heart surgery cover
  • 100% cash back on two dental check per year
Enquire Now More info
Top Hospital with Top Extras
Top Hospital with Top Extras
Get comprehensive hospital and extras cover and tailor your policy to your needs.
  • Pregnancy and birth services cover
  • Back surgery cover
  • $1000 general dental annual limit
  • $600 physiotherapy annual limit
Enquire Now More info
Young Couples Combined Cover
Young Couples Combined Cover
Mid-level hospital and basic level Extras package with an excess for young, healthy couples that are not quite ready to start a family.
  • Emergency ambulance cover
  • Cancer-related surgery cover
  • 70% back on extras
  • $300 dental annual limit per person
Enquire Now More info

Picture: Shutterstock

Richard Laycock

Richard is the senior insurance writer at finder.com.au and is on a mission to make insurance easier to understand.

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