Health Insurance

Use the government’s Health Insurance Tool to find the cheapest quotes from a range of providers.

Frank Insurance seems to offer some of the cheapest insurance policies around for young people, followed by GMHBA

Health Insurance Advice

  • If you earn over $84,000 a year it can be cheaper to have basic health insurance than pay tax for not having the right health insurance cover.
  • The tax is calculated each day after 1st July that you don’t have the right cover so sooner after 1st July you sign up the better.
  • Always only take the level of cover you need- don’t pay for the extras if you never use them.
  • Premiums increase on 1st April each year so if you pay for the whole year before then you can save even more money.
  • Premiums for young single people start at only $500 for the year!
  • Make sure you sign up for cover before your 31st birthday if you are likely to need ongoing cover otherwise you have to pay loading fees (this can be up to 20% by the time you’re 40!)
  • Buy hospitals & extras cover separately as you often need higher hospital cover than extras.
  • Sign up for basic health insurance after 1st July if earn over

There are a range of ways to find the cheapest Health Insurance policies in Australia.


How to save on your Health Insurance?

There is a big range in prices so always check out the best deal with the above tools.

Policies increase in price each year and so it it worth trying to pay for a yearly plan for the whole year before 1st April of each year, when the prices go up.

Something to be aware of is that if you earn over $84,000 a year then it is worth signing up for a policy as you are charged a medicare Levy from 1% if you don’t equal to about $840 of tax.

If you find a policy under this price then you are saving yourself money.

Also if you want to avoid paying extra loading you should sign up to a policy before your 31st Birthday otherwise you will have to pay 2% loading each year after that! ie you pay a 20% loading on top of the standard rate if you are 40.

If you move/migrate to Australia you have until 1 year after you sign up to Medicare to avoid this fee, even if you are over 30.



It is often thought to be better to choose hospital & extras cover separately according to Choice Magazine. For example you may want top level hospital cover but only minimal extra cover. Also for extras think about whether it would be better to self insure.

You have to be aware of the gap payment when you caompre health insurance deals.

You need to make sure your insurance has agreements with the hospitals you are thinking of visiting to make sure your Gap payment is kept to a minimum.

Check to see if your policy includes ambulance cover if you need it in the state you live. For example Ambulance Cover in Queensland & Tasmania is covered by the state and in NSW/ACT the cover is included in hospital cover.


Pre-existing conditions there is a maximum waiting period of 12 months before you can make a claim