What’s the best private health insurance in Australia?

A guide to help find the best health cover for you

21 December 2023 4 minute read

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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.

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 4 health insurance questions that could save you $$$.

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 wholistic 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.

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.