Have you got the right health insurance? 3 ways to tell 

There are literally thousands of health insurance policies available in Australia (64,252 open policies as at 2 December 2025, to be exact). So if you think your health cover isn’t quite hitting the mark, you have tonnes of alternatives. Staying with a policy that isn’t right for you means you’re throwing money down the drain, and potentially leaving yourself without sufficient cover when you need to claim for health treatments. So, how do you know if you’ve got the right health insurance? At healthslips.com.au, we’re the experts on health insurance. Here are our 3 signs that you’ve got the right health insurance for you (and your family). 

1. You’re covered for what you need 

To get a health insurance policy that fits your needs, it helps to be clear on what healthcare services you’re likely to use – now, and in the future. The right health insurance policy for you is the one that covers all the treatments you think you may need, and not too many of the ones you don’t. Consider what you and your family might need in the next decade, too. If you’ve got a higher likelihood of a health condition, make sure that’s reflected in your policy, for example Blood Glucose Monitors for diabetes. There’s a waiting period before you can claim, so it’s smart to have the right level of cover before you need it.  

Finding the right Hospital Cover policy 

The right Hospital Cover policy for you is the one that covers the hospital treatments (known as clinical categories) you want covered. There are 4 levels of Hospital Cover policies: 

• Basic (the cheapest) – covers restricted cover on 3 out of 38 clinical categories, meaning you’re only covered up to a certain level 

• Bronze – covers 21 of 38 clinical categories (3 of these may be restricted cover) 

• Silver – covers 29 of 38 clinical categories (3 of these may be restricted cover) 

• Gold (the most expensive) – covers all 38 clinical categories, unrestricted. 

What hospital treatments do each of the Hospital Cover tiers include? 

Finding Extras Cover that meets your needs 

On Extras Cover, which can include treatments like physiotherapy or dentistry, there are limits per treatment and/or per year, which means you can’t claim back 100% of what you pay for a service. The right Extras Cover policy is one where you’re covered for the non-hospital health services you use most, and where you can claim back enough of the service to make it worthwhile (more on that below).  

2. You’re getting back more than you paid 

This only applies to Extras Cover, since that’s the form of insurance where you need to spend less than you claim to make it worthwhile. Hospital Cover is the type of cover where you’re paying for peace of mind, and might not need to claim often, if at all. Check how much you claimed back on your Extras policy last year, and compare that to how much you paid in premiums. You can ask your health insurer for the facts on your premium and claims. Make sure that you spent less on premiums than you got back, otherwise it’s worth reviewing your policy and cover. Look for a more suitable policy at the healthslips.com.au calculator, to make sure you get more bang for your buck.  

5 ways to get the most out of Extras Cover  

3. The price meets your budget 

No one wants to pay more than they should – especially when it comes to health insurance. Since health cover usually increases every year (on 1 April) you’re probably paying more for your policy now than you used to, which is a good reason to make sure you’re getting the best policy for your money. Even if you think your health cover is a good price, it’s always worth checking if you can get a better deal. With so many policies available, a quick search could really pay off (literally). The healthslips.com.au calculator searches every policy on the market for free, showing you all the price options available, and you don’t have to enter your name, phone number or email address to get your results.  

How do I change health insurers? 

If you’ve decided you don’t have the right health insurance policy, it’s easy to find a better option. The healthslips.com.au calculator is the fastest way to search every policy in Australia so you can find the policy that truly suits your needs and your budget –anonymously. Since we don’t sell insurance, you can trust that the results are unbiased, and it’s free to use. Try the calculator to compare your policy to other policies, or search for a new policy.  

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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