Bupa vs Medibank: How do they compare?
When every dollar counts, it's worth knowing how your health insurance premium is being spent. Based on the Commonwealth Ombudsman’s State of the Health Funds Report 2024–25, the comparison below shows how much of every $100 in premiums was returned to members through benefits or claims payments by Medibank and Bupa.
What matters to you:
Value for money
In 2024-25, Medibank returned $85.60 in benefits for every $100 in contributions compared with $82.40 for Bupa.
Hospital cover
In 2024-25, Medibank covered $89.60 of every $100 in private hospital related charges on average, compared with $89.00 for Bupa.
Running costs
In 2024-25, Medibank spent $7.60 of every $100 in contributions on management expenses compared with $11.30 for Bupa.
Extras
In 2024-25, Medibank and Bupa members both got back on average of $51.30 for every $100 in general treatment (extras) costs.
Awarded Outstanding Value Health Insurance 18 years running
We're proud to deliver award-winning health insurance products, but don't just take our word for it. Canstar have awarded Medibank an outstanding value award for health insurance in Australia for the 18th year in a row.
We help our members unlock value
Doing more for your body gets you more from us.
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.#
Up to 10 weeks free on Hospital and Extras cover
New joins who maintain eligible Hospital and Extras cover can get:
- Up to 10 weeks free
- Up to $300 in gift cards
- 2&6 month waiting periods waived on eligible extras
T&C’s apply.€
Ready to make the switch?
Switching to Medibank is easy, at any time. Simply find a cover that suits your needs and leave the paperwork to us. There's no need to re-serve waiting periods you've already served with your old fund.$
Other health insurance tips
Things you should know
= 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.
$ 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.
# 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.
€ For full Hospital and Extras offer Terms, Conditions and Exclusions, click here.