The following table shows insurers from Finder partners that offer Silver health insurance policies. All prices are based on a single individual with less than $93,000 income and living in Sydney.
I originally signed up for a Gold insurance policy because I wanted to cover everything. As it turns out, a Silver policy covered everything I needed so I dropped down a tier and save money on my repayments every month.— Alanna Glenn, lead publisher (money)
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| Response | WA | VIC | SA | QLD | NSW |
|---|---|---|---|---|---|
| Somewhat | 42.45% | 34.44% | 30.67% | 37.06% | 42.17% |
| Yes | 33.02% | 34.81% | 42.67% | 30.46% | 37.38% |
| No | 24.53% | 30.74% | 26.67% | 32.49% | 20.45% |
HCF's Hospital Standard Silver Plus ranked in first place out of all of the eligible silver policies we analysed. The not-for-profit health fund's policy costs approximately $30 per week and covers treatments including digestive system, heart and vascular system and back, neck and spine.
HBF's Silver Hospital policy ranked in second place out of all of the eligible silver policies we analysed as part of the awards. The not-for-profit health fund's policy costs approximately $28 per week and covers 30 treatments including heart and vascular system, back, neck and spine, digestive system and dental surgery.
Qantas Silver Hospital policy ranked in third place out of all of the eligible silver policies we analysed as part of the Finder awards. The fund's policy costs around $25 per week and covers a number of treatments including heart and vascular system, digestive system and dental surgery.
Gold-tier hospital insurance covers all 38 treatments outlined by the Australian government. This includes treatments like joint replacements, pregnancy and insulin pumps, as well as all services covered by Silver-tier policies.
Silver-tier hospital insurance covers at least 26 treatments outlined by the Australian government. This includes treatments like dental surgery, lung and chest, and podiatric surgery, as well as all services covered by Bronze-tier policies.
Basic-tier hospital insurance isn't required to fully cover any treatments outlined by the Australian government, but it does need to have restricted cover for rehabilitation, hospital psychiatric services and palliative care. Generally, Basic cover is primarily used to avoid the Medicare Levy Surcharge and Lifetime Health Cover loading.
*Average prices updated March 2024, in line with Finder's database of health insurance policies. Prices are based on a single individual with less than $93,000 income and living in Sydney with a $750 excess.
If you're not planning to start a family in the near future but still want reasonable coverage, then a Silver policy might be a good choice for you. It provides you with a range of benefits but doesn't provide cover for clinical categories you're not going to use, such as pregnancy and birth, and assisted reproductive services. Some sub-groups of people this might include are:
Silver-tier cover provides a range of benefits that are suitable for older Australians. However, there are some treatments that may be important for some older people that aren't available with all Silver policies. Here are some examples:
The Silver-tier covers more specialised treatments than Bronze cover, so can be useful for people with more specific medical needs that they need coverage for. Additionally, many providers offer 'Silver plus' policies with cover for a small selection of Gold-tier treatments. These policies add a lot of flexibility for people who want coverage for some Gold-tier treatments, but don't need the highest level of coverage.
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