The private health industry in Australia is now dominated by the biggest names. The eight biggest health insurance companies Australia are now controlling over 90% of the market. The experts are determining the top private health insurers in the country after considering some factors.
One of those factors is the size of the firm. If you are now looking for a health insurer that offers the best coverage that meets your own healthcare needs, you’ll find a handy guide on this page. You are about to see a list of the best health insurance companies in Australia.
The list below was arranged according to the retention of the member. It is the key indicator of customer satisfaction.
Top Health Insurance Companies Australia
For those who consider private health insurance providers or change from one insurance provider to another, comparing available options is the best step to do. Australian market offers many insurance providers that offer policies for different needs. These are the best insurance providers to consider.
1. Health Partners
Health Partners is a health insurance provider that is based in Adelaide and is now the biggest open health insurer in South Australia. This insurance provider is providing healthcare coverage to over 90,000 members. This health insurer is not for profit, it operates the biggest dental practice in the state.
Members of Health Partners can access the broad network of the organization which includes pharmacies and physiotherapists. Health Partners is providing extras and hospital cover across the continent.
Below are some benefits you will get by purchasing the policy of health insurance companies Australia.
| Hospital Cover | Extras Cover | |
| The private room stays when it is available. | Optical | Physiotherapy |
| Members can decide the treatment location and who will treat them. | Dental | Massage |
| Free from the waiting list of the public system. | Pharmacy | Chiropractic |
2. HBF
HBF became the largest private health insurance company since it has been founded in 1941. The insurance provider is now providing coverage to about a million members on the continent. This company has a headquarter in Perth and a dozen branches in Western Australia.
This healthcare insurance provider is offering health insurance policies that serve various demographics, such as overseas visitors and single parents. Clients who are purchasing its Basic Hospital Plus policy will access come coverages below.
- Grommets, adenoids, tonsils.
- Rehabilitation.
- Palliative care.
- Joint reconstructions.
- Hospital psychiatric services.
- Appendix and hernia treatments.
- Gynecological services.
- Dental surgery.
3. Westfund
Another biggest health insurance company is Westfund which is based in New South Wales. It becomes one of many top private health insurers in Australia because of its member retention. This no-fort-profit health insurer is providing eye, dental, and hospital care coverage to over 110,000 members.
The Basic Hospital Policy offered by Westfund is offering coverage for your choice of doctor and shared room accommodation at a hospital. Its plan also includes unlimited emergency ambulance cover as well as %5,000 coverage for non-emergency ambulance trips for each member.
4. HCF
This is one of the oldest health insurance companies Australia. HCF was founded in 1932 and now it becomes one of the biggest life and health insurance companies on the continent. This not-for-profit insurance provider is also offering pet and travel policies.
HCF has a headquarter that’s based in Sydney. Now, the insurance company is serving about 1.8 million members around the country. The company has a plan called My Future 500 Basic Plus. The price for this plan is $24.25 per week and it covers:
- Cashback up to $180 for optical services.
- Cashback up to $750 on annual extras treatment.
- Grommets, adenoids, tonsils.
- Joint reconstructions.
- Appendix and hernia treatment.
- Throat, nose, and ear care.
- Dental surgery.
5. Bupa
Bupa is the next major health insurance company. This company is providing international healthcare service that is operating in over 20 countries. In Australia, the offices of the company are located in Melbourne and Sydney and they are offering travel and health insurance.
Members of Bupa can also access various services, such as community well-being programs, optical and dental care, retirement and aged care, and so on. The Bronze Plus Simple Hospital policy offered by this Australian health insurance company is covering:
- Pain management.
- Chest and lung treatment.
- Bladder and kidney treatment.
- Hospital psychiatric services.
- Appendix and hernia treatment.
- Gynecology.
- Gastrointestinal endoscopy.
- Radiotherapy, immunotherapy, and chemotherapy for cancer.
- And many more.
6. Medibank
The sixth of the famous health insurance companies Australia is Medibank which controls about a third of the health insurance market in the country. This insurance company is providing various healthcare services to about 3.9 million customers on the continent. Below are some plans’ features:
- Extras cover gives you 100% cash back, especially on optical services.
- The extras cover also gives you 100% cash back twice a year on dental check-ups.
- Phone access is available 24/7 for members to a Medibank nurse.
- Accident cover boosts no matter which coverage level you are choosing.
Unfortunately, the scale of Medibank makes this global health insurance company a cybercriminals target. This company recently became a victim of a ransomware attack. The attack compromised the customers; personal details.
7. nib
nib Group is an international health insurance company that is now offering various medical and healthcare coverage to over 1.5 million clients in New Zealand and Australia. Its clients also include 190,000 international workers and students in the country.
The Basic Plus policy of this company is offering an $18.48 weekly premium only for these inclusions:
- Grommets, adenoids, and tonsils.
- Termination and miscarriage of pregnancy.
- Gynecology.
- Gastrointestinal endoscopy.
- Joint reconstructions.
- Appendix and hernia treatment.
- Emergency ambulance cover.
- Dental surgery.
- Accidental injury benefit.
8. Australian Unity
Finally, there’s Australian Unity which was founded in 1840. This company is based in Melbourne and now is offering care, wealth, and health services. The Simple Hospital or Basic Plus policy offered by the company provides these features:
- Appendix and hernia treatment.
- Palliative care.
- Rehabilitation.
- Joint reconstructions.
- Hospital psychiatric services.
- Dental surgery.
- Ambulance cover.
Too many health insurance companies in Australia may overwhelm you in choosing the best one. But the eight options above are the best and highly recommended ones. Make sure that you check the eight providers above before looking for another health insurer in the country.
Those eight health insurance companies Australia have headquarters in different cities but they all have branches everywhere in Australia. Learn the policies offered by each company and you’ll find the right one that meets your own needs.
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