What affects my health insurance price?

These are the factors which impact your health insurance price you will ultimately pay. 

• Relationship status  

You will pay more for a policy that covers 2 or more adults than you would for a policy that only covers you. However you have the option to stay on your own policy even if you are in a relationship or have a family, which might suit your budget if you have different health cover needs from other members of your household. 

• Where you live  

Health insurance is more expensive in some states and territories compared to others, due to the demographic profile, access to private health facilities and varying healthcare costs in those areas.  

• Level of cover  

A health insurance price is set after considering the types of services and treatments it covers. 

Under Hospital Cover, healthcare services and treatments are split into 38 Clinical Categories, and the cost of your policy will depend on which categories are included in your chosen tier of cover. The cheapest level of cover is the Basic tier, which must at least provide restricted coverage for 3 of 38 clinical categories, followed by Bronze, Silver and Gold tier policies. Make sure you understand the difference between each tier and the categories included and excluded. Many insurers also offer Plus policies which provide additional services above the minimum required in that tier. 

Under Extras Cover, there are 28 common treatments and health insurers can package the different treatments as they choose.  

• Adult dependants 

If you have adult dependants aged 18 to 31 who are not students, they may be classified as non-student dependants on your policy. And if you have adult dependants over the age of 18 who have a disability, this may affect the price you ultimately pay for your policy. Each insurer treats these types of dependants differently and may set different conditions, so talk to your insurer to find out if this will affect your health insurance price.  

• Higher excess  

The higher your Hospital Cover excess (which means the initial amount you must pay towards claims), the cheaper your premium. To avoid paying the Medicare Levy Surcharge, your excess needs to be lower than $750 for a policy for one adult and $1,500 for policies covering 2+ adults and/or dependants.