health insurance plans

Best Health Insurance Plans for Australians

Finding the Best Health Care from Down Under

Australia is known for having one of the best healthcare systems in the world, as they have access to free or lower-cost medical services by doctors and specialists in or out of the hospital.

Medicare assists the Australian public to have this free service, however, many people still opt for additional private medical insurance as it doesn’t cover everything. There are also often long waiting lists for general procedures in the public healthcare system.

Private health insurance ensures that you can skip these long waiting lists and receive medical attention in a private hospital and by a private practitioner, depending on the plan that you’ve chosen. Private health insurance plans are not cheap, but they will also save you on having to pay the out-of-pocket costs when you make use of the free health care system. Health insurance prices have gone up this year, so it’s recommended that you conduct an in-depth comparison of the plans and available options according to the type of coverage that you require.

Top 5 Health Insurance Plans

1. HCF

Established in 1932 to help the community pay for hospital care, HCF is Australia’s largest not-for-profit health fund, and it’s based in Australia. It has grown into the third-largest combined private health and life insurance organization. Compared to other insurances, HCF offers great value in health coverage due to being a non-profit organization.

HCF offers seven policies to choose from with premiums that start at $104.30 per month. They also offer five extra cover options with monthly premiums starting at $16.95 and five combined policies with monthly premiums starting at $129.40. Their waiting periods are between two and twelve months and one of the greatest benefits is that you get up to 100% back on selected Extras from over 10,000 participating providers within the HCF provider network.


Known as one of the leading private health insurance companies in Australia, Bupa has more than 4 million members. There are eight different hospital plans to choose from, twenty-two Extra cover options and five combined policies. The large variety of services all work together to provide the best health care for Australians.

The hospital cover options start at $102.35 per month, the Extras cover policies start at $26.70 per month, and the combined policies start at $130.55 monthly. Bupa’s waiting periods are between two months and up to three years, depending on the pre-existing condition and the type of coverage you already have. One of the unique features offered by Bupa is that it will pay between 60% to 100% of the cost for most dental, chiro, podiatry and physio consultations for its members on the network of health care providers. One of the few negative aspects of Bupa is that physio and the optical cover are not included in any of the Extras policies.


This insurer is highly regarded by its customers for its excellent customer service and has ranked high in the consumer Product Review. GMHBA has a live-chat option available to its members and a call-back service to avoid being on hold for long periods. GMHBA has been in the business for over 85 years and is also a non-profit organization, committed to putting the well-being and health of its members first.

GMHBA policies have a 12-month waiting period for all hospitalizations. Hospital policies start at $106.50 per month, Extras cover starts at $28.64, and combined policies start at $148.65 per month.

4. HBF

HBF is a great option for people with unique requirements as they combine policies into one plan, and keep all profits from premiums that are reinvested, allowing them to continue providing new and improved benefits.

With HBF, you can choose between six different hospital policies with premiums starting at $105.70 per month and five Extras policies with premiums starting at $23.35. The only downside to this insurer is that it doesn’t offer a combined cover option as some of the other insurers do. A benefit is that waiting periods are anything between seven days and twelve months. One of the negative things about HBF is that it had many poor reviews from its customers, but a great benefit is that accidents are covered after only one day of membership.

5. Medibank

Medibank provides health care for over 3.9 million people and offers various healthcare services throughout the country. The organization has been dedicated to its customers and community since 1976 and is also a non-profit health fund committed to supporting the well-being of its clients and offering convenient access to quality healthcare.

Medibank offers eleven hospital plans with premiums starting at $101.80 per month, twenty-one Extras policies with monthly premiums starting at $30.30 and two combined policies with monthly premiums starting at $119.25. Waiting periods range between two and 36 months, depending on your condition and requirements. Medibank also offers a large network of providers with the Medibank Members’ Choice benefit.