What’s the best private health insurance in Australia?

It’s up there with some of the most searched for questions on the internet: How do I tie a tie? What’s a meme? How do I boil an egg? What’s the best private health insurance?

At nib, we believe that your private health insurance should be simple, easy to claim and value for money, so we’ve put together a guide to help you decide on what health cover is best for you.

Finding the best value health insurance: what’s important to you?

The first step in finding the best private health insurance is to determine why you’re looking to purchase private health insurance and if you have any specific health concerns. Maybe you’re signing up for health insurance to avoid the Medicare Levy Surcharge or to avoid the Lifetime Health Cover loading or for tax purposes? Or, maybe you're planning on starting a family, so you're looking for the best health cover for pregnancy?

Make a list of things you might want to be covered for. It could be as simple as wanting health cover for dental check ups, or maybe you have a family history of heart disease and want to get coverage for your heart.

And if you’re not sure, don’t stress! Head to our contact us page to call or chat online with one of our friendly team members.

Comparing the best health insurance for singles, couples, and families

Next, it’s time to compare types of cover. At nib, we give you a number of health cover options so that you can truly compare and choose a policy that fits your needs, ensuring your health insurance aligns seamlessly with your lifestyle. Whether you're young and active, health-conscious, navigating family life, or seeking peace of mind, we've got the ideal coverage for you. With several health covers that may suit your needs, obtain quotes on your options and assess how they align with your budget.

Comparing health insurance cover 

We understand that comparing health insurance options can be confusing, especially when there seems to be a number of different cover options. A good point to remember is that it doesn't aways come down to price alone when choosing the policy that is most suitable for your needs. So, what should you look for when comparing different options and how can we help? 

Before comparing health insurance covers, it's important to consider your own personal circumstances (including any existing medical conditions) and to create a list of services that are essential to you. This checklist will make it easier to find options that are right for you, being sure to also check things like waiting periods, excess and annual limits. 

We have a more in-depth guide on how to compare to compare health insurance to get the most value, but here's a quick overview on some of your cover options with us.  

Hospital cover

Hospital cover helps pay for treatment as a private patient, which includes costs like theatre fees and accommodation. Hospital cover is categorised into Gold, Silver, Bronze and Basic tiers in Australia, which makes it easier for you to compare your options.  

Extras cover

Extras cover is for everyday health services and can include things like dental check-ups, new glasses or treatment at the physio. Depending on your level of cover, it can also cover additional services like acupuncture and dietary advice.

Hospital and Extras cover

Combined cover helps pay for private patient treatment fees, and can cover everyday health services like dental, optical and physio visits.

Overseas student health cover 

It’s a requirement for international students studying in Australia to have Overseas Student Health Cover (OSHC). It helps students access essential health care while they're in Australia and covers various medical expenses, including hospital or ambulance related costs. 

Overseas visitor health cover

Certain working visas in Australia require overseas workers to hold Overseas Visitor Health Cover (OVHC). Basic options cover workers for hospital and ambulance related costs, while more comprehensive covers can include GP visits, selected outpatient services and Extras services like dental and optical.  

Health insurance isn't one size fits all and your cover should be as individual as you are. If you'd like to learn more your health insurance options, we've got you covered. 

Saving money on your health insurance premium

Keep in mind you could save money on your premium by choosing a higher excess option or opting for your premium to be direct debited from your bank account. We also have a network of trusted health professionals to make it easier for you to keep your out-of-pocket expenses low when visiting a dentist, optometrist, or physiotherapist. Search for a local provider in the nib First Choice network which community specially selected healthcare providers who have agreed to provide nib members with quality healthcare at an affordable price. For more money-saving tips, visit our article 5 health insurance questions that could save you money.

Using your health cover

When it comes to using your private health insurance cover, choose a health insurance provider that makes using your cover as easy as possible so you can concentrate on maintaining and improving your health. With nib, you can easily claim by swiping your nib card at your provider (if they have this available) or using your phone (we have photo claiming on our nib app)! Beyond private health insurance, consider if your fund offers holistic wellbeing support like skin checks, health checks or GP telehealth services. At nib we offer a range of health management programs at no additional charge to eligible members that aim to help get you in shape, keep you out of hospital, improve your physical and mental wellbeing and aid a quicker recovery post-hospitalisation.

And we’re with you when you need us most – when you’re going to hospital. We provide the support you need to navigate the system whether it’s with a cover check, by providing you with the average cost of your procedure, giving you tips on keeping out-of-pockets low or suggesting questions you should ask your specialist.

Private health insurance Australia

Private health cover is optional for Australian residents. Medicare (Australia's public health system) covers essential health services like GPs, public hospital visits and certain medications. Private health insurance can offer you additional support when it comes to services that aren't covered by Medicare, including everyday health services like dental, optical and physio, depending on your level of cover.  

There are also a number Government initiatives relating to private health care in Australia, including Lifetime Health Cover loading, the Medicare Levy Surcharge, the Australian Government Rebate and aged-based discounts. 

But, what’s the best private health insurance?

The truth is that there’s no ‘one size fits all’ approach to private health cover. Your policy should be as individual as you are, that’s why we allow you to tailor your insurance based on the services you’re most likely to use.

Want to talk to one of our health insurance consultants? Head to our contact us page to call or chat online. To find out how real people use their nib private health insurance, check out Sonya's story.

The surcharge is payable for every day you don't have hospital cover within the financial year. The ATO uses a special definition of income (called income for MLS purposes) to determine whether you are liable to pay the MLS, and the rate of MLS you will have to pay. This income is different to your taxable income.