Private health insurance in Australia is tracked across 1 insurer, offering access to private hospitals and shorter waiting times than the public system. Compare the hospital network, outpatient cover limits and mental-health inclusion carefully — budget policies often exclude outpatient specialist consultations and diagnostic tests.
Compare the top 12 Australian private health insurance providers, with premiums from Price on request. Data current as of 23 October 2026 and updated daily from the Giraffy database.
12 live offers compared from 12 providers. Updated daily.
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Price on request
Giraffy compares 12 private health insurance policies from 12 Australian funds. The lowest listed premiums are for hospital-only cover: Phoenix Health Fund from AUD 80 a month, Defence Health and Budget Direct from AUD 85 and CBHS Hospital Select from AUD 90 — note that Phoenix, Defence Health and CBHS are restricted funds for specific employee groups, so Budget Direct is the cheapest option open to everyone. Hospital plus extras starts from AUD 92 a month with Suncorp, AUD 95 with Allianz and AUD 100 with CommBank.
For the top Gold hospital tier, which covers all clinical categories with unlimited hospital benefits, listed prices start from AUD 120 a month with Australian Unity, then HCF (from AUD 125), nib (from AUD 130), Medibank (from about AUD 140) and Bupa (from about AUD 145, including AUD 1,200 of extras). Premiums shown are for an individual and change with your age, state, excess and Medicare levy surcharge position, so get a quote before switching. Also compare travel insurance and life insurance.
Private health insurance sits alongside Australia's public Medicare system, giving you cover for treatment as a private patient. It comes in two main types: hospital cover, which pays toward private hospital treatment and lets you choose your doctor and avoid public waiting lists, and extras (or ancillary) cover, which helps with dental, optical, physiotherapy and other services Medicare does not fund. Many people take a combined policy that bundles both together.
Medicare provides universal public healthcare, so private cover is optional but actively encouraged through tax settings. Hospital policies are sold in standardised Basic, Bronze, Silver and Gold tiers, a system that makes comparison easier by defining the minimum clinical categories each tier must cover, such as pregnancy on Gold. Funds cannot refuse you or charge more because of pre-existing conditions under community rating, though waiting periods apply before you can claim for certain treatments.
Choice and shorter waits — Hospital cover lets you choose your specialist and private hospital and avoid public elective-surgery queues, which can be long for non-urgent procedures.
Extras for everyday health — Extras cover offsets the cost of dental, optical, physio and similar services that Medicare does not fund at all.
Tax advantages — Appropriate hospital cover can exempt higher earners from the Medicare Levy Surcharge and attract an income-tested premium rebate.
Decide whether you need hospital cover, extras or both, then match the hospital tier to your life stage — for example, Gold-level cover is required for pregnancy and birth. Compare excess levels, which reduce premiums in exchange for a payment at admission, against the out-of-pocket cost at claim time. Check waiting periods, whether your preferred hospitals are agreement hospitals, and any gap-cover arrangements that limit what specialists can charge you.
The comparison features Medibank, Bupa Australia, HCF, nib, Australian Unity, CBHS Health Fund, Defence Health and Phoenix Health Fund. Medibank and Bupa are the two largest funds, HCF is a large not-for-profit and nib is a major listed insurer, while several restricted funds such as Defence Health and CBHS serve specific communities. Choice comes down to the tier, extras, excess and hospital agreements that best suit your needs and budget.
Premiums vary by state, age, cover tier, excess and whether you take hospital, extras or combined cover, so no single price applies across the market. Two settings shift the net cost: the income-tested private health insurance rebate reduces your premium, while choosing a higher excess lowers it further. Buying hospital cover before age 31 helps you avoid the Lifetime Health Cover loading that increases premiums for later starters. Premiums also typically rise each year, usually from 1 April, so reviewing your policy annually and switching funds if better value emerges can keep costs in check without losing your waiting-period credits.
Private health insurers are regulated by APRA, and the Private Health Insurance Ombudsman handles complaints. Community rating means funds cannot discriminate on health status or age at entry. The Medicare Levy Surcharge, from 1% to 1.5%, applies to higher earners without adequate hospital cover — for 2025-26 the singles income threshold is A$101,000 and the family threshold A$202,000, above which the surcharge adds to the standard 2% Medicare Levy.
Do I need it if I have Medicare? — Medicare covers public treatment, but private hospital cover offers choice and shorter waits and can save higher earners the Medicare Levy Surcharge.
What is Lifetime Health Cover loading? — If you first take hospital cover after age 31, a 2% loading applies for each year you delayed, up to a cap, so taking cover earlier keeps premiums lower.
Giraffy tracks 12 private health insurance products across 12 funds in Australia. Hospital-only cover is the cheapest way to get private cover; Gold hospital cover and combined hospital + extras policies cost more. Your premium depends on your age when you first take out cover, your state, the excess you choose and whether you claim the private health insurance rebate.
Hospital cover pays towards treatment as a private patient in hospital — your room, theatre fees and the gap above the Medicare benefit for in-hospital doctors. Extras (general treatment) cover pays towards services Medicare does not cover, such as dental, optical, physiotherapy and chiro. You can buy either on its own or combine them in one policy.
Every Australian hospital policy is labelled Gold, Silver, Bronze or Basic. Gold must cover all clinical categories, including pregnancy, joint replacements and assisted reproduction. Silver, Bronze and Basic cover progressively fewer categories, so check that the treatments you are likely to need are included before choosing a cheaper tier.
Yes. Funds can apply a waiting period of up to 12 months for pre-existing conditions and for pregnancy and birth, and up to 2 months for most other hospital treatment (including psychiatric, rehabilitation and palliative care). Australian funds cannot refuse you cover or charge you more because of your health. Switching to an equivalent policy with another fund does not restart waiting periods you have already served.
If you do not hold private hospital cover by 1 July following your 31st birthday, you pay a 2% loading on hospital premiums for every year you are over 30 when you join, up to a maximum of 70%. The loading is removed after you have held hospital cover continuously for 10 years. Extras-only cover does not count.
Only if your income is above the surcharge threshold and you do not hold an appropriate level of private hospital cover. The surcharge is 1% to 1.5% of your income on top of the Medicare levy, so for many higher earners a low-cost hospital policy costs less than the surcharge. Extras-only cover does not exempt you.