Top 10 Private Health Insurance Companies Australia

Australia offers a plethora of options when it comes to health insurance, but have you ever wondered who the leading providers are? If you’re in the market for a new policy, it’s prudent to explore the offerings of top health insurance companies to find the most suitable coverage for your needs.

Savvy facilitates easy comparison of health insurance plans from reputable private health insurance providers in Australia. Obtain free quotes swiftly from our trusted panel of providers online and either purchase your policy directly or receive personalized assistance over the phone for any queries you may have. Take the first step toward securing the right health coverage by obtaining your no-obligation quote with Savvy today.

1. Medibank Private and ahm

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Originally established as the Australian Government’s not-for-profit health insurer in 1976, Medibank Private, commonly known as Medibank, transitioned to a private entity and became listed on the Australian Stock Exchange in 2014. In 2009, it expanded its reach by acquiring ahm (Australian Health Management), headquartered in Wollongong, thereby bolstering its customer base by over 700,000, in addition to its existing 3.7 million clients.

Medibank provides a diverse array of health insurance options, encompassing at least nine hospital cover policies, four extras cover policies, and packaged products. Meanwhile, ahm offers nine hospital cover policies and seven extras policies. Noteworthy amenities include a 24/7 health advice line, a mobile health app, an online health hub, and the Medibank Live Better program, which incentivizes healthy living through rewards accessible via the Live Better app.

In addition to domestic coverage, Medibank extends its services to overseas students and visitors, furnishing a comprehensive range of cover, spanning primary and specialist care, pharmaceuticals, and hospital care. Dental health is also prioritized, with the provision of up to 100% reimbursement on biannual dental check-ups.


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Bupa, short for the British United Provident Association, stands as another prominent private health insurer in Australia, boasting a clientele of over four million Australians. Established in the UK in 1947, Bupa has evolved into a global healthcare provider, catering to more than 21 million health insurance customers worldwide.

The spectrum of health insurance options offered by Bupa is extensive, encompassing a minimum of six hospital cover policies, four extras cover policies (inclusive of a flexible extras policy), and a variety of eleven dual policy combinations. Operating through its Members First network, which comprises over 10,000 healthcare providers, Bupa facilitates access to cost-effective services for its clientele.

Bupa further enhances its services through Bupa Health Link, providing health and well-being tools accessible via its mobile app and a phone-based health support service. Additionally, Bupa implements a rewards and recognition scheme, featuring a plethora of offerings including retail, entertainment, and travel discounts, alongside eGift cards and dining privileges.

3. HCF

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Established in 1932 and headquartered in Sydney, the Hospital Contribution Fund of Australia provides private health insurance and life insurance services. Despite being the third largest health fund in the country, it distinguishes itself as the largest not-for-profit fund, channeling over 90% of premiums back into benefits for its 1.8 million members.

With a commitment to member satisfaction, the fund operates a ‘no-gap’ provider network, ensuring customers receive full coverage for dental check-ups and initial visits to physiotherapists, osteopaths, or chiropractors at no additional cost. Eligible members also have access to complimentary preventative health check-ups for heart, skin, and mental health issues, along with health management services such as quit-smoking programs.

Moreover, the fund offers a ‘gap minimiser tool,’ aiding customers in locating health providers who offer services without any out-of-pocket expenses.

4. NIB Health

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Founded in 1952 to cater to steelworks employees in the NSW Hunter region, NIB Health fund has expanded significantly and now serves 1.5 million customers across Australia and New Zealand, extending its services to include overseas visitor health cover.

For Australian residents, NIB offers a selection of at least five hospital cover policies and four extras policies, providing comprehensive coverage options. Additionally, the company offers a diverse range of health insurance products, including dental care centers where check-ups are fully covered.

Customers benefit from generous discounts on travel insurance when purchasing health insurance through NIB. Furthermore, the company extends its services to over 180,000 overseas students and foreign visitors in Australia, including tailored health insurance policies for overseas workers.

5. HBF Health

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Established in 1941 as the Metropolitan Hospitals Benefit Fund of Western Australia, HBF is headquartered in Western Australia and ranks as the fifth largest health insurer in the country. Its acquisition of Brisbane-based CUA Health in 2021 further solidified its position in the market. As a not-for-profit fund, HBF reinvests all income into its members through medical benefits, health programs, and administrative costs.

HBF provides a range of options for its members, including approximately six hospital cover policies and five extras cover policies. Additionally, it offers a telephone health coaching service and various free preventative health programs, such as the Healthy Living program for Extras Cover holders and Health Support programs for hospital cover holders.

Members can enjoy reduced-price gym memberships and full reimbursement for certain health programs, such as the CSIRO Total Wellbeing Diet Program. Furthermore, HBF offers tailored fitness and wellbeing programs at no cost to eligible members, including the Osteoarthritis Healthy Weight For Life program and access to the online Mental Health hub.

6. Teachers Health Fund

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Founded in 1954 by the New South Wales Teachers Federation, the Teachers Health Fund was created to cater exclusively to members of the education sector, including education students, teachers, and academics who are union members. As Australia’s largest industry-based health fund, it operates on a restricted membership basis, boasting over 360,000 members comprising teachers, education staff, and their families.

The fund offers a selection of approximately five hospital cover policies and three extras cover policies, in addition to a combined hospital and extras policy. Ambulance cover is available either as part of a hospital or extras policy or as a standalone option.

Members with specific health conditions may be eligible for the Healthy Lifestyle Benefits program, which includes weight management initiatives like Jenny Craig and the CSIRO Total Wellbeing Diet. Furthermore, the HEAL (Healthy Eating Activity and Lifestyle) program is offered to mitigate health risks associated with conditions such as heart disease and diabetes.

7. Australian Unity

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Established in 1840, Australian Unity is a member-owned wellbeing company with deep roots in Victoria, stemming from the amalgamation of various mutual friendly societies. Over time, it has evolved into a comprehensive provider of health, wealth, and care services, offering private health cover, insurance products (such as travel, car, and home insurance), banking services, and wealth and investment solutions.

Australian Unity caters to individuals, couples, families, and overseas visitors with a diverse range of health insurance products. Through its provider network, members benefit from no-gap dental treatment, ensuring accessible care.

The company also prioritizes member wellbeing through various health programs, including mental health support, parenting preparation, and healthy lifestyle initiatives. Additionally, its Wellplan Rewards program provides members with discounts on groceries, petrol, movie tickets, and other special deals, enhancing the value of membership.


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Established in Geelong in 1934, this not-for-profit mutual private health insurance company was originally known as the Geelong Medical and Hospital Benefits Association before adopting its current name in 1958. With a membership exceeding 370,000, predominantly concentrated in the Geelong region, it prides itself on being Australia’s premier regionally-based health insurer and also operates under the Frank Health Insurance brand.

The company offers a comprehensive array of health policies, including various hospital cover and extras cover options. Members benefit from dental care services available at two locations in Geelong and Portland, with selected dental health check-ups fully reimbursed at 100%.

Moreover, ambulance cover is automatically included in all policies, with no waiting period, ensuring immediate access to essential emergency services.

9. Defence Health

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Established in 1953, Defence Health is a not-for-profit health fund with restricted membership, dedicated to providing health insurance to members of Australia’s defence forces and their families. Eligibility extends to ADF members, their partners, children and grandchildren, parents and ex-partners, past ADF members and their families, as well as individuals associated with the Department of Defence and defence suppliers or contractors. With a membership exceeding 300,000 Australians, Defence Health serves as a vital healthcare provider for the defence community.

The fund offers a comprehensive range of hospital and extras cover health insurance policies tailored to the unique needs of defence force personnel. Specific benefits include cover for children only, the option to suspend cover during overseas postings, and no excess charges for children’s hospital treatments.

Defence Health also provides additional flexibility with its extras policies through the flexi-limits program, allowing members to customize their extras limits and allocate their total extras benefit according to their preferences.

Notable features of Defence Health’s policies include unlimited preventative dental treatment under the Top Extras cover and 100% coverage for selected glasses through the fund’s optical network under the Value Extra policy.

10. CBHS

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Established in 1951 by the Commonwealth Bank to cater to its employees’ healthcare needs, CBHS is a restricted not-for-profit fund that currently serves approximately 230,000 members from the Commonwealth Bank community, including present and past employees and their families.

CBHS offers a comprehensive range of health insurance options, encompassing hospital cover, extras cover, and packaged plans that may include ambulance cover. Members benefit from the Choice Network, a network of dental and optical service providers across Australia, which often provides no-gap treatment for standard check-ups. Additionally, membership entitles individuals to discounts on eyewear and contact lenses from Choice Network optometrists.

To enhance member convenience, CBHS offers a mobile app that allows users to access their insurance details, claim benefits, and locate Choice Network providers while on the go.

Read more: Top 10 Private Health Insurance Companies Australia