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Medibank Health Insurance Review: Navigating Your Health Coverage

Megan Fraser Fact Checked Updated: 20 November 2023
Types of Health Insurance

Medibank is one of the largest Private Health Insurance groups in Australia. The Medibank group encompasses other familiar health insurance providers such as AHM. With over 47 years of experience within the health insurance industry, Medibank attempts to improve the well-being of its members through a wide array of health insurance policies, rewards, benefits, and investments into wellbeing-oriented products.

This article will serve as your all-encompassing guide to understanding Medibank. Choosing the right health insurance provider and policy that matches your personal health requirements can often be a daunting and confusing. To make things easier, we will discuss Medibank Health Inusrance’s history, policies, average costs, pros and cons, and any relevant information you may need to assist in making your decision.

Key facts

  • Established in 1976, Medibank is one of Australia’s largest health insurance providers and currently assists over 4 million members.
  • Medibank provides policies suitable for singles, couples, families, and single parents. Each policy type has varying levels of cover.

ComparingExpert does not currently have access to this provider. Visit Medibank.com.au to request a quote and compare their price and benefits to the Australian private health insurance companies we have access to.

Medibank’s Background

Medibank is one of Australia’s largest Private Health Insurers and serves over 4 million Australians with services related to health and wellbeing. Originally established in 1976 as a not-for-profit fund, Medibank became a for-profit company in 2009 and was privatised in 2014 by the Abbott Government.

Medibank states that its purpose is ‘Better Health for Better Lives’, which means that Medibank Health Insurance aims to ensure that its products and services better the lives and well-being of its members. Medibank also states that it has 4 core values in which the company functions: customer centricity, compassion, brilliance together, and boundary-breaking.

What makes this company policy interesting is their forward-thinking approach to Health Insurance. Medibank has set out a specific guideline for diversity and inclusion known as the ‘Medibank Diversity and Inclusion Plan’ because the company states that everyone has the right to good health insurance. Medibank aims to provide an inclusive and diverse service that creates opportunities for those who may be disadvantaged.

Types of Health Insurance Policies from Medibank

Medibank offers its Private Health Insurance Policies to singles, couples, families, and single parents. Each policy is specifically designed to meet the personal health requirements of each lifestyle type. Medibank policies also provide coverage in the form of Hospital Cover, Extras Cover, and Combined Cover.

Let’s explore these intricate policy types and what Medibank Private Health Insurance offers.

Hospital Cover

Medibank offers Hospital Cover for singles, couples, families and single parents looking for varying coverage levels. Depending on the chosen plan, the price and level of coverage will change. A notable feature of Medibank’s Health Insurance Hospital Policies is that emergency ambulance cover is provided with every hospital policy taken out.

Medibank’s policy structure follows the standard tier structure most health insurance providers use. Medibank’s cheapest policy is the Medibank Basic Accidents and Ambulance Policy, which provides basic cover for accidents and emergencies. This is suitable for young and healthy singles looking for a cheap policy that provides coverage in an emergency.

Medibank’s most expensive hospital policy is the Medibank Gold Protect policy, which provides comprehensive coverage for many in-hospital services. This policy type provides the most comprehensive coverage that Medibank has to offer and also provides coverage for pregnancy and birth, assisted reproductive services, weight loss surgery and more.

Extras Cover

Medibank offers 3 different extras policies. Unfortunately, this is a lower number of options than other providers. Medibank does not allow applicants to choose their own Extras; rather, they must choose between the predesigned packages available.

Combined Cover

The combined cover offered by Medicare is known as the Medicare Hospital & Extras Cover. Instead of providing completely combined packages, Medicare allows its members to choose the hospital and extras cover separately and then merges them into one policy.

There are 7 available hospital policies and 3 available extras policies for the Medibank Combined Policies. This gives the applicant a little more freedom in choice. It also allows the applicant to tailor their further policy to directly meet their personal health requirements.

Pros and Cons

As with any other decision that one may make, there is a list of advantages and disadvantages to consider before applying for a Medibank policy. Let’s examine these pros and cons and how they may affect an applicant.

Advantages of Medibank Private Health Insurance:

Disadvantages of Medibank Private Health Insurance:

Cost of Medibank policies

Now that we have discussed the history and policies offered by Medibank Private Health Insurance, let’s take a closer look at the average costs an applicant could face when choosing one of the many policies offered. The average cost of a policy will change based on the personal lifestyle of the applicant, the age, geographical location, tier type, coverage, policy selected, and a range of other factors.

Compare policies

Hospital CoverHospital PremiumExtras CoverExtras Premium
Medibank Basic Accident and Ambulance$110.50 – $116.90Essential Extras 60$31.30
Medibank Basic Plus Healthy Start$117.20 – $122.65Healthy Start Extras$36.40
Medibank Bronze Everyday$121.95 – $142.00My Choice Extras Core 60$36.20
Medibank Bronze Plus Progress$123.25 – $148.20My Choice Extras Move 60$48.75
Medibank Silver Plus Core$149.50 – $187.30Essential Extras 75$53.80
Medibank Bronze Plus Assured$132.80 – $160.10My Choice Extras Family 60$65.50
Medibank Silver Plus Support$176.95 – $205.95Growing Family 60$62.10
Medibank Silver Plus Advanced$258.15 – $292.4Top Extras 60$75.25
Medibank Silver Plus Secure$230.90 – $269.20My Choice Extras Complete 60$75.95
Medibank Gold Advanced$267.25 – $302.00My Choice Extras Complete 75$123.00
Medibank Gold Protect$300.90 – $358.65Top Extras 90$164.15

Source: Privatehealth.gov.au (Novemeber 2023; Premium estimates for a single individual living in NSW)

Joining Medibank

Joining Medibank is quick and easy. To join, an applicant must first identify the policy they would like to apply for. It is important to remember that this process should not be rushed. Choosing the right policy is the key to ensuring that you always receive the assistance you need – when you need it.

Once the right policy has been chosen, the applicant can either phone Medibank directly, speak to a consultant through the live chat support feature on the website, or click on the application links provided under each policy on the website.

Family Policy Insights

Medibank offers a staggering 26 different family policies to choose from. These policies are combined policies that include coverage for both hospitals and Extras. Family cover is designed to cover not only one person but an entire family.

Child dependants can remain on the Medibank Family Policy until the age of 21. If the child dependant is classified as a student dependant or an adult dependant after 21, they can continue to receive coverage until 31, as long as they are not in a de-facto relationship or married. Medibank also allows for adult dependents to be added to the family policy but at an additional cost.

Claim from Medibank

Medibank offers five different methods for members to submit a claim. The claims process is simple and fast. Members can submit a claim in any of the following ways:

Common Mistakes to Avoid

When choosing a policy, it is important to take your time to decide on what policy may be best for you. You have many different personal health requirements, and these needs need to be met. Here are some tips and common mistakes to avoid to assist you in making your decision:

Frequently Asked Questions and Answers

  • What are the advantages of choosing Medibank?

    The policies provide members with a good level of coverage and competitive pricing. For families, there is a large list of benefits and options to assist in a growing household. There are also numerous rewards and benefits available to members of Medibank Private Health Insurance. Medibank has also ensured the claims process is simple and easy to carry out, making it more accessible to a diverse number of people.
  • How does Medibank’s pricing fare in the market?

    Medibank utilises a value-focused approach when it comes to their Health Insurance policies. This means that their policies are competitive compared to the market whilst offering members a decent amount of coverage for specific needs.
  • What to expect when joining Medibank?

    When an applicant joins Medibank, the first thing that can be expected is the waiting period involved with each policy. A member cannot claim on any policy until the waiting period has elapsed. When it comes to customer service, Medicare has a dedicated team of agents that assist members with the personal requirements that they may have. The claims process is simple, and there are also a range of benefits and rewards that come with being a Medibank Private Member.
  • How long can children be covered under Medibank’s family policy?

    Child dependants can remain on the Medibank Family Policy until the age of 21. If the child dependant is classified as a student dependant or an adult dependant after 21, they can continue to receive coverage until 31, as long as they are not in a de-facto relationship or married. Medibank also allows for adult dependents to be added to the family policy but at an additional cost.
  • How to decide on the right Medibank policy?

    To decide on the right policy for you, it is crucial first to identify and understand your personal health requirements. When you have identified these factors, it becomes an easier task to select the policy that directly matches your own needs. Other factors that you should consider are the geographical differences in policies, your financial needs, and additional health requirements you may require in the future. Preventative measures should always be taken to ensure you receive the assistance you need – when you need it.

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