How do we compare to other health funds?
Every year, the State of the Health Funds Report provides you with some considerations when choosing a health fund and policy that best suits your health needs, budget and lifestyle. We've looked at the numbers for 2023-24 to show you how Medibank compares within the industry:
We help our members unlock value
You might've noticed we're not on comparison sites. That's because our health cover options provide ways to maximise value that aren't always compared, including:
Your body rewards you with endorphins. We do it with points.
Live Better is a health and wellbeing program inspiring, supporting and rewarding you to eat, move, and feel better, all while enjoying the things you do every day.
Medibank members with eligible Hospital or Extras cover could earn up to $400 a year in rewards* by redeeming the points earned for taking healthy actions.#
Hospital & Extras offer - Want up to 12 weeks free plus up to $500 in gift cards?
Join and maintain eligible Bronze hospital and extras cover or above and you could get up to 12 weeks free plus 50,000 Live Better points (couples and families) or 25,000 Live Better points (singles and single parents) to redeem on rewards like gift cards. We'll also waive 2&6 month waiting periods on extras. Use promo code: 12WEEKSPLUS. Offer ends 15 July 2025. New members only.€
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Some things to think about when you're comparing health insurance
Hospital cover, extras cover, or both?
You can choose to take up one or the other, or to package your cover. Whatever you choose, make sure it suits you and your circumstances.
Are there waiting periods?
If you're buying a new policy or upgrading an existing one there are usually waiting periods on most services. If you're switching funds, we'll recognise any waiting periods you've already served.$
Should I just get the cheapest health insurance?
"Cheap" and "value for money" are two different things. No matter what level of cover you choose, you should make sure it aligns with your needs and how you look after your health.
How easy is it to make a claim?
Making a claim should be as simple as possible. Paperwork is unavoidable for some claims, but for others you should be able to do it on-the-spot at your Extras provider, or on your smartphone.
Compare health cover options
Your health needs change throughout your life. That's why we're focused on supporting your health and well-being, no matter what stage of life you're in. Explore a range of cover options better suited for:
Things you should know
1 Bupa returned 82.6% of contributions in benefits vs 84.9% from Medibank Group from 2023-24.
2 Bupa members claim an average of 50.1% of general treatment (Extras) charges vs 52.4% for Medibank Group members from 2023-24.
3 HCF members claim an average of 88.9% of their private hospital related charges vs 89.7% for Medibank Group members from 2023-24.
4 HCF members claim an average of 50.4% of general treatment (Extras) charges vs 52.4% for Medibank Group members from 2023-24.
= Eligible members on Medibank extras (excluding Healthy Living Extras and Gold Ultra Health) can claim a maximum of two 100% back dental check-ups per member, per year at a Members’ Choice Advantage provider (including bitewing x-rays where clinically required). For members on eligible extras, the first two check-ups do not count towards your annual limit. Members with Healthy Living Extras can get 100% back on one dental check-up each year at a Members’ Choice Advantage provider (including up to two bitewing x-rays, where clinically required) or at a Members’ Choice dentist (excluding x-rays). Members with Gold Ultra Health can get 100% back on up to three dental check-ups at a Members’ Choice or Members’ Choice Advantage provider. Members’ Choice and Members’ Choice Advantage providers are not available in all areas. Two month waiting period applies. Some products may have other dental benefits, check your cover summary for details.
^ Waiting period applies. For ambulance attendance or transportation to a hospital where immediate professional attention is required, and your medical condition is such that you couldn't be transported any other way. TAS and QLD have State schemes to cover ambulance services for residents of those States.
& Members' Choice providers are not available in all areas and may change without notice.
+ For Accidents that occur in Australia after your cover starts. Must seek medical treatment within 7 days, and receive hospital treatment within 12 months of the Accident occurring. Excludes Private Emergency Department Benefit, hospital bonus, claims covered by third parties and our Private Room Promise. Out-of-pocket costs may apply.
@ Some referred services may involve out of pocket costs and waiting periods may apply.
# Must be 16 years or over to register for Medibank Live Better rewards. Some program partners and earning activities require a person to be at least 18 years of age to be eligible to earn and/or redeem a reward. Must be a Medibank member with hospital cover, extras cover, or hospital and extras cover, be up-to-date with premium payments and have signed up to Medibank Live Better rewards in the My Medibank app to earn Live Better points for eligible purchases and redeem rewards. Excludes Overseas Student Health Cover (OSHC), Ambulance only cover, ahm covers and other selected covers. Live Better Management Pty Ltd, ACN 003 457 289 has entered into commercial arrangements with Medibank Live Better program partners and may receive commissions. Additional terms and conditions may apply to points earning activities and rewards. Points earning activities and rewards are subject to change and may be subject to availability. Wherever possible, we will give you notice of these changes. See full Medibank Live Better rewards terms.
* Live Better rewards members could earn up to 40,000 Live Better rewards points each calendar year for successfully completing select Live Better rewards points-earning activities. These activities include, but are not limited to, health and wellbeing challenges, the Weekly Goal, onboarding actions, partner activity earn and the daily auto-tracking bonus. This does not include points earned by shopping with Live Better rewards partners or visiting Members' Choice Advantage providers. 40,000 Live Better points could be redeemed for up to $400 worth of rewards from the Live Better rewards store.
Medibank Live Better Challenges & Goals Earning Policy: The participant of a Medibank Live Better Challenge or Goal may not receive Live Better points or may have their already credited Live Better points reversed in accordance with the Medibank Live Better terms and conditions. To earn Live Better points, the participant needs to complete 100% of the eligible Challenge according to the instructions. The number of Live Better points available for Medibank Live Better Challenges and Goals is subject to change without prior notice. To the extent of any inconsistency between this Policy and the Medibank Live Better rewards terms and conditions, the terms and conditions will take precedence.
$ You need to join Medibank within 2 months of leaving your old fund, or waiting periods apply again. Benefits that have been paid under your previous cover will be taken into account in determining the extras benefits payable under your Medibank cover.
€ For new members on new memberships who join and start eligible combined Bronze hospital and extras cover or above from 14 May – 15 July 2025, AEST and who have not held Medibank health cover in previous 60 days (unless they are dependents coming off their parent’s cover). Must quote promo code 12WEEKSPLUS and set up direct debit when joining. Must have Australian residence. Excludes Basic cover, Corporate covers, Hospital only cover, Extras only cover, Accident Cover, Overseas Visitors Health Cover, Overseas Workers Health Cover, Overseas Students Health Cover (OSHC), Ambulance Cover, ahm covers, and other selected covers. Not available to Medibank employees. Not available with any other offer. Medibank reserves the right to amend these Terms and Conditions from time to time.
Weeks free terms: Must remain up-to-date with premium payments and hold eligible cover for 42 consecutive days from the policy start date to get initial 6 weeks free, and for 15 consecutive months to receive subsequent 6 weeks free. The initial 6 weeks free will be applied at the next billing cycle after you have held eligible cover for 42 consecutive days. The subsequent 6 weeks free will be applied at the next billing cycle after you have held eligible cover for 15 months. The 6 weeks free will not be issued if you change to an ineligible cover, terminate your cover or suspend your cover during this period. Discounted amount to reflect level of eligible cover at time of discount.
2&6 month waits waived on extras terms: 2&6 month waiting periods on extras waived. Other waiting periods apply (including 12 months on some dental services). If you're switching from another fund and you’ve used any of your current limits (at that fund), that will count towards your annual limits with us. If you've reached your limits at your previous fund you may not be able to claim straight away on extras.
Live Better points terms: Must maintain direct debit and hold eligible product for 42 consecutive days from the policy start date to receive Live Better points. The points will not be issued if you change to an ineligible cover, terminate your cover or suspend your cover during this period. Policyholder will require access to a smartphone and will need to download the My Medibank App. Policyholder will need to have registered a My Medibank account, sign up to Live Better via the My Medibank App and track any Live Better activity within 42 consecutive days from the policy start date. Policyholder must also maintain direct debit and continue to hold an eligible product for 42 consecutive days from the policy start date to receive the Live Better Points. Must be 16 years or over to register for Live Better. Live Better rewards points could take up to 8 weeks from the policy start date to be loaded to the policyholder’s Live Better account. Singles and single parents will receive 25,000 Live Better rewards points, and families and couples will receive 50,000 Live Better rewards points.
Live Better Rewards terms: Must be a Medibank member with eligible hospital cover, extras cover, or hospital and extras cover, be up-to-date with premium payments and have signed up to Medibank Live Better via the ‘My Medibank’ app to redeem rewards. Additional terms and conditions may apply to the redemption of a reward depending on the type of reward chosen. Read full Medibank Live Better terms here: https://www.medibank.com.au/livebetter/rewards/terms/