healthslips.com.au Pty Ltd (healthslips.com.au) has partnered with ItsMy Group Pty Ltd (ItsMy Group) for the provision of health insurance products. By proceeding, you agree that ItsMy Group will use your personal information for the purposes of providing advice to you on health insurance products and assisting you with arranging cover if you decide to proceed with a purchase. Not all policies can be discussed or purchased over the phone. If you click 'Talk to an expert' and our specialists cannot assist with your preferred policy, they will tell you and offer to discuss alternatives or provide you with contact details for your preferred policy.
ItsMy Group and healthslips.com.au will collect, store and use your information in accordance with the ItsMy Group Privacy Policy and the healthslips.com.au Privacy Policy.
The ItsMy Group is a signatory to the Private Health Insurance Intermediaries Code of Conduct.
Medibank Private (Medibank) is a private health insurer that operates as an open health fund.
Background
Established in 1976 by the Australian government as a not-for-profit health insurer, the Health Insurance Commission initially ran Medibank.
In 1998, the Australian government removed Medibank from the control of the Health Insurance Commission, created Medibank Private Limited and made itself the sole shareholder.
In 2009, Medibank purchased ahm, a Wollongong-based health insurer, and converted into a for-profit entity. During the same year, the Australian government transferred Health Services Australia to Medibank, which enabled the insurer to expand further into preventative and health management programs.
In 2014, the Australian government sold Medibank via an initial public offering (IPO). It became a public company and listed on the Australian Securities Exchange (ASX). This marked Medibank’s complete transformation into a for-profit insurer.
Medibank is one of Australia’s largest health funds with over 4.0 million members.
Who can join Medibank?
Anyone can join Medibank because it is an open health fund.
Yes. Medibank provides corporate policies to certain organisations. Search your organisation’s website or intranet to find out whether a corporate health insurance policy is available to you, and what conditions apply.
Is Medibank a not-for-profit health insurer?
No. Medibank is a for-profit health insurer.
Does Medibank operate in all Australian states and territories?
Yes. Medibank operates in all Australian states and territories.
How does Medibank Hospital Cover compare with other insurers?
Does Medibank have agreements with some private hospitals or day hospitals to provide services at low cost or with no out-of-pocket costs?
Yes. Medibank has agreements with a number of private hospitals that allow it to provide services to its members at low cost or with no out-of-pocket costs:
Location
Number of private Agreement Hospitals
Industry maximum
ACT
5
6
NSW
92
98
NT
1
2
QLD
50
60
SA
20
23
TAS
9
9
VIC
65
76
WA
21
24
Medibank alsohasagreements with a number of day hospitals so it can provide services at low cost or with no out-of-pocket costs:
Is Medibank a member of any industry organisations?
Medibank is a member of Private Healthcare Australia (PHA), a body that represents 20 registered health insurers and 97% of people covered by private health insurance.
Does Medibank let me claim online or via an app?
Yes. Medibank allows members to make a claim online or via the My Medibank app.
