Medibank was established by the Australian government in 1976 as a not-for-profit health services provider. In 2009 it acquired ahm, and in that same year became a for-profit company. It was privatised in 2014.
Medibank currently provides health services to 3.7 million Australians across the country. In addition to health insurance, the company also provides travel, life, and pet insurance. It has been awarded ‘Outstanding Value Insurance’ from Canstar for ten consecutive years.
Medibank makes it easy to shop for health cover by offering a range of categories. You can look for packaged hospital and extras cover according to your family type, or you can look for standalone types of cover that can be mixed and matched.
Many of the packages on offer are available across multiple family types, though accident cover is only offered to singles and couples.
Medibank offers 19 different options for individual or couples cover. Here are three examples:
Medibank offers 13 cover options for families. Here are three examples:
Everyday starter: covers emergency ambulance, accidents, claim 60% back on extras
Because Medibank allows customers to mix and match their levels of cover, there is a long list of policies available. We’ve broken the policies up by hospital and extras cover.
Medibank offers a range of hospital cover policies, starting from basic levels of cover and working up to top cover. The lower levels of cover offer a restricted number of services, while the top levels of cover include most, if not all, services covered by Medicare.
Unlimited emergency ambulance cover across Australia. Not available to residents of Queensland and Tasmania as they are covered by the state.
Cover for emergency accidents; for singles and couples only. Cannot be packaged with extras cover.
Cover for young, healthy people. For singles and couples only, can be combined with extras.
Competitive cover for common services, excluding pregnancy. Can be packaged with extras.
Broader range of services than Core Hospital to better prepare for the unexpected.
Wide-ranging level of cover excluding obstetrics and IVF services.
Most comprehensive level of cover.
Medibank offers four kinds of extras cover, most of which can be bundled with hospital cover.
Good for young, healthy people just getting started with health cover. For singles and couples only.
Low-cost extras cover for common services.
Extra cover for families planning more children. Can also be combined with core, standard, or complete hospital cover.
Highest level of extras cover available from Medibank.
Medibank has a program in place to help reduce or eliminate out of pocket payments for members. Medibank bases its benefits for in-hospital services on the Medicare Benefits Schedule (MBS). Doctors can elect to charge fees that are higher than this schedule, meaning that patients owe out of pocket costs.
Medical professionals can choose to enter into a GapCover arrangement with Medibank to help lower costs for members. If so, they will either offer ‘no gap’ or ‘known gap’ options to members.
If the medical provider agrees to charge no gap, then members pay no out of pocket costs.
If the medical provider agrees to charge a known gap, then members pay a reduced out of pocket cost.
The GapCover scheme does not cover diagnostic services like blood tests or x-rays.
Medibank has arrangements with Members’ Choice, one of Australia’s largest health provider networks. Members who choose to receive treatment and services from a Members’ Choice provider can get better value and expanded services.
Use the Find a Provider section of the Medibank website to find network providers in your area.
Medibank offers a variety of member benefits, promotions, and discounts that can change over time.
For example, Medibank is offering to waive 2 and 6 month waits for extras services when you sign up for combined hospital and extras cover.
Medibank also has a mobile app, making it easy to manage your health cover wherever you are. Check your cover limits, update your personal details, or make a payment as needed.
Medibank also offers free programs to members to help support and improve their health. These programs include: