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.

Compare policies and receive quotes from all 35 Australian health funds for 2017

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.
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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