What’s the best private health insurer in Australia? 

At the time of writing, there are 46 health insurers in Australia, each of them offering a vast array of policies at different levels of cover and varying prices. So, how do you choose? How can you decide what’s the best private health insurer in Australia? Here, we break it down. 

What’s the best private health insurer in Australia? 

The best private health insurer is the one that provides cover which ticks your boxes for price and health cover needs. People often focus on a health insurer’s size, history or how well known it is, but the health insurance industry is highly regulated, which means all insurers are subject to the same rules about claims, cover, waiting periods and more. So instead of looking at the insurer, it’s better to search for the best policy. 

 Here are the easy steps to find your best private health insurance. 

1. Decide who needs cover and what type   

Do you want cover just for you, or for your partner and/or kids too? And what type of cover?   

• If you want cover for private hospital treatment and/or to avoid paying the Medicare Levy Surcharge, you’ll need Hospital Cover.  

• If you want cover for out-of-hospital health services including dental, optical, physio and more, you’ll need Extras Cover.  

• If you only want cover for ambulance treatment – and you don’t live in Queensland or Tasmania, where ambulance treatment is free – you can get Ambulance Only Cover, or choose Hospital or Extras Cover that includes ambulance treatment cover. 

How do I know if I have to pay the Medicare Levy Surcharge?

2. Decide what services and treatments you want included 

Think about the type of health services you want cover for. If, for example, you think you or your kids might need sinus surgery in the future, you could look for a Hospital Cover policy that includes ear, nose and throat cover. If you have an active lifestyle, you might choose Extras Cover with higher limits for physio and massage claims.  

Confused about what tier of cover you need for your chosen health treatments? Check this guide.

3. Consider all your options 

With 47 health insurers and literally hundreds of thousands of policies available, you’ve got a lot of options. For a fast and easy way to search all the policies offered by every insurer, so you don’t miss out on a good deal, head to the healthslips.com.au calculator. It searches every policy in Australia for free, and you don’t need to enter any personal details to get your results. 

4. Check the premiums 

No one wants to pay more for health insurance than they need to, so check the policies that meet your healthcare needs and make sure the premium fits your budget. The healthslips.com.au calculator lists policies from cheapest to most expensive based on the government-approved premium, so you can easily find the best deal for your budget – and you can adjust the excess and see how much that reduces your premium, too. But remember: if you want to avoid paying the Medicare Levy Surcharge, you need a Hospital Cover premium with an excess of $750 (or less) for single policies and $1,500 (or less) for couples, single parents and family policies. 

5. Double-check the details 

Once you’ve found your best  policy, you’re almost good to go! Before you buy, check that:  

• The policy covers what you need and want 

• You understand the waiting periods, excess and any co-payments that might apply (on Hospital Cover) 

• The benefit limits meet your needs (on Extras Cover) 

• You’re clear on the government rebates and penalties that might affect your premium 

• You can save money on your premium in any way, such as paying by direct debit, agreeing to emails or paying a year in advance. Also, check to see whether that insurer is running any promotions. 

The good news: it’s easy to change policies – your new insurer will handle all the admin for you. When you buy the policy your insurer will do the rest. And if you’re buying a new policy at the same level of cover (or tier) as your existing policy, you won’t have to serve waiting periods again.   

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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