Choosing private health insurance for elderly parents 

When your parent, or parents, need additional care to stay well, your family will face a lot of decisions. Amid these changes, you might be wondering about private health insurance for elderly parents – whether it’s needed, and where to find the right policy.

Here are the answers to the most common questions about choosing health insurance for ageing parents.

Do my parents need health insurance?

As your parents age, their chance of hospitalisation rises significantly. They can be treated for free under Medicare in public hospitals, or privately if they have health insurance, which may involve out-of-pocket costs. Whether or not to get them private health insurance depends on their health needs, budget and the type of treatment they want to access. Here are some questions to ask if you’re considering getting Hospital Cover for your parents:

• Can your parents manage long wait times for non-urgent surgeries that are more likely in the senior years, such as cataracts and joint replacements? Consider whether the wait will affect their quality of life and independence. In 2024-25, 50% of hip replacement patients in Australia waited more than 130 days (4 months) in a public hospital. A Hospital Cover policy will give your parents the ability to skip public wait times by going to a private hospital, choosing a doctor they feel comfortable with, and getting their own room (if available).

• Can they afford health insurance? Many of the hospital treatments that are more likely in the second half of life, such as hip and knee replacements, are only available on the more expensive Hospital Cover tiers such as Silver Plus and Gold.

• Can they afford to pay for an ambulance if they need one? According to Ambulance Victoria data, people over the age of 85 are 8 times more likely to be treated by an ambulance than those aged 45 to 69 between 1995 and 2015. In Queensland and Tasmania, ambulance treatment is free, but in every other state and territory it can cost anywhere from a few hundred to a few thousand dollars. To cover ambulance treatment, you can buy Ambulance Only Cover for your parents or a Hospital or Extras policy that includes ambulance treatment (most do). Many state and territory ambulance services also offer memberships which cover ambulance treatment.  

How much does ambulance treatment cost in Australia?

What about Extras Cover for my parents?

You might like to also consider Extras Cover, which is for non-hospital treatments not covered by Medicare. Keep in mind Extras Cover will only pay up to a certain amount, and there are annual limits. Extras treatments that might be relevant for your parents include:

• Hearing aids

• Blood glucose monitors

• Home nursing

• Occupational therapy

• Exercise physiology

• Non-PBS pharmaceuticals

• Optical

• Physiotherapy

• Podiatry

• Major dental (which includes dentures).

Can I cover my parents on my health insurance policy?

No, Family policies can only cover you, your partner and your children living in your household. Even if your parents are living with you, they’ll need to get their own health insurance policy – either 2 Single policies, or as a Couple.

How much is private health insurance for elderly parents?

We used the healthslips.com.au calculator to calculate the cost of Hospital Cover for a couple in Victoria. For a Silver Plus policy that included cover for joint replacements and cataracts, we found a policy costing $467 a month with a $750 excess, as of April 2026.  

A Combined Hospital and Extras policy that covered joint replacements, cataracts and 6 Extras treatments cost $515.50 a month with a $750 excess, as of April 2026. 

However those prices don’t include government incentives and penalties. Your parents’ premium may be affected by:

• Private Health Insurance Rebate (also known as the Government Rebate): This lowers premiums for people over 65 and those who earn below the threshold.

• Lifetime Health Cover Loading: If your parents have not had Hospital Cover continuously throughout their lives, the government imposes an extra Loading which will increase their premium by as much as 70% for the next 10 years. Work out their Loading here.

Does health insurance cover aged care?

No, healthcare for people in aged care homes is not covered by health insurance. You may wish to get Hospital Cover in case they need to be hospitalised.

How do I find health cover for my parents?

The fastest and most thorough way to find health insurance is using the healthslips.com.au calculator. It provides unbiased comparisons of every policy in Australia in minutes, so you know you can trust the results. You don’t have to enter any contact details, which means no pressure to buy. Look for a new policy or compare their existing policy and make sure you’re getting the best policy for your parents, at the best price.

healthslips.com.au does not provide general or personalised advice. Your particular circumstances are likely to impact the accuracy, completeness and relevance of the information or results. Take this into account before making a decision and talk to an expert for financial advice.  

Trudie McConnochie

Writer and Researcher

Knowledge is power – that’s the guiding principle behind everything Trudie writes, and it’s a philosophy she brings to her work at healthslips.com.au. By breaking down complex information into easy-to-understand blogs and stories, she aims to empower Australians to make the best choices and an informed decision around private health insurance.

Trudie understands firsthand some of the complexity of private health insurance having moved to Australia from New Zealand and having to navigate a vastly different public healthcare system and health insurance structure.

Trudie holds a Bachelor of Communication Studies (journalism major) from the Auckland University of Technology.

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