Choosing Overseas Student Health Cover (OSHC) is an important decision for international students studying in Australia. While price is an important consideration, the cheapest policy may not always provide the features or benefits that best suit your circumstances.
When comparing OSHC, students should consider the overall cost of the policy as well as hospital and medical benefits, waiting periods, prescription medicine benefits, claims processes and the type of cover required.
Understanding these differences can help you choose suitable OSHC for your Student Visa (Subclass 500) while avoiding unnecessary costs.
OSHC policies are designed to help international students meet applicable health insurance requirements and manage eligible healthcare costs while studying in Australia.
However, policies can differ in their premiums, benefits, limits, exclusions and service features. A policy that suits one student may not necessarily be the best choice for another.
When choosing OSHC, consider:
The aim should be to find a policy that provides appropriate cover for your circumstances at a price you are comfortable with, rather than choosing on price alone.
For a broader explanation of Student Visa health cover, read our Overseas Student Health Cover (OSHC) guide.
The cost of OSHC can vary depending on the insurer, the length of cover and whether you need single, couple or family cover.
When comparing policies, look at the total premium for the period you require, rather than focusing only on a monthly or short-term price.
Before choosing a policy:
A lower premium can be attractive, but the cheapest policy is not automatically the most suitable option for every student.
If keeping costs down is your main priority, read our Cheapest Student Visa 500 Health Insurance guide.
Before choosing OSHC, review what benefits are included in the policy. While OSHC is designed for international students, the benefits, limits and conditions can vary between insurers and policy options.
Depending on the policy, OSHC may provide benefits towards eligible services such as:
Don't assume that every policy will pay the full cost of every medical service. The amount you can claim may depend on the policy terms, the service received and the fees charged by the healthcare provider.
Before purchasing, check the insurer's policy information carefully so you understand what is covered, what is excluded and where out-of-pocket costs may arise.
For more information about services that may not be included, read our What Is Not Covered by OSHC? guide.
Before choosing an OSHC policy, check whether waiting periods apply to any benefits you may need.
A waiting period is a period of time you may need to hold your policy before you can claim certain benefits. Waiting periods can be particularly important if you expect to need treatment after arriving in Australia.
Depending on the policy and circumstances, waiting periods may apply to certain services, including:
The applicable waiting periods and conditions should be checked in the insurer's current policy documents before purchasing cover.
If you are changing from one OSHC provider to another, also check how previously served waiting periods will be treated by the new insurer before switching.
Understanding waiting periods before purchasing can help you avoid unexpected costs or discovering later that a particular treatment is not immediately claimable.
Hospital and medical benefits are an important part of OSHC, but the amount paid by an insurer may depend on the type of treatment, where you receive treatment and the terms of your policy.
When comparing OSHC policies, check:
It is also important to understand the Medicare Benefits Schedule (MBS). Some medical benefits may be calculated by reference to the MBS fee. If a doctor or specialist charges more than the benefit payable under your policy, you may have an out-of-pocket cost.
Hospital arrangements can also differ between insurers, so students should check the relevant policy information before deciding which OSHC is suitable for them.
When comparing policies, consider both the premium and how the policy may help with the healthcare services you are likely to use.
OSHC may provide benefits towards eligible prescription medicines, but the amount you can claim can vary depending on the policy and insurer.
When comparing OSHC, check:
Prescription medicine costs can become significant if you require regular medication, so this is worth checking rather than comparing policies on premium alone.
You may still have an out-of-pocket cost after the OSHC benefit is applied. Always check the current policy documents for the insurer's applicable pharmaceutical benefits, limits and conditions.
The claims process and level of customer support can make a significant difference when you actually need to use your OSHC.
Before choosing a policy, consider:
A policy with a convenient claims process may make it easier to manage your health insurance while studying in Australia.
However, digital services and support options can change over time and differ between insurers. Check the provider's current information before purchasing if a particular service or feature is important to you.
For detailed information about individual insurers, students can read our OSHC provider guides for Allianz Care, Bupa and nib.
The type of OSHC you choose should reflect who needs to be covered under the policy. Selecting the correct policy type is important when comparing both prices and benefits.
Depending on your circumstances and the insurer, available policy categories may include:
The terminology and family-cover structures can differ between insurers, so check who can be included under the particular policy before purchasing.
Couple and family OSHC can also cost considerably more than single cover. If you need cover for family members, compare available policies using your actual circumstances rather than relying on prices advertised for single students.
For more information, read our Couple and Family OSHC guide.
Once you have considered the cost, benefits, waiting periods, claims process and policy type, the next step is to compare the available OSHC options for your circumstances.
At 500 Visa Insurance, international students can compare available OSHC policies from:
Enter your required cover details to review the available prices and policy options. Remember that the cheapest provider can vary depending on your cover dates and whether you require single, couple or family OSHC.
For a side-by-side comparison, use our OSHC comparison page.
Choosing OSHC based only on the advertised price can lead students to overlook important policy differences. Before purchasing, take time to check that the policy is appropriate for your circumstances.
Common mistakes to avoid include:
Taking a few minutes to check these details before purchasing can help you choose OSHC based on both value and suitability, rather than price alone.
Start by comparing the required period of cover, policy type, price and benefits available under each policy. Also consider waiting periods, hospital and medical benefits, prescription medicine limits, claims processes and potential out-of-pocket costs before making a decision.
Not necessarily. Price is important, but the cheapest policy may not always be the most suitable for your circumstances. Compare the premium alongside the benefits, limits, exclusions and services provided by the policy.
No. OSHC policies can differ in their premiums, benefits, limits, exclusions, provider arrangements and additional services. Students should review the current policy information before purchasing.
Consider the total premium for your required cover period, hospital and medical benefits, emergency ambulance cover, prescription medicine benefits, waiting periods, claims processes and policy exclusions.
Choose the policy category that reflects the people who need to be covered. The definitions and family structures offered can differ between insurers, so check the eligibility requirements of the particular policy.
Students can generally change OSHC providers, but the change should be arranged carefully so that appropriate health insurance is maintained. Before switching, check how matters such as waiting periods, refunds and commencement dates will be handled.
500 Visa Insurance allows international students to compare available OSHC options from Allianz Care, Bupa and nib based on their required cover details.
Choosing OSHC for your Student Visa 500 involves more than simply finding the lowest price. The right policy will depend on your required cover period, policy type, healthcare needs and the benefits and conditions offered by the insurer.
Before purchasing, compare the total cost, hospital and medical benefits, waiting periods, prescription medicine benefits, claims process, exclusions and potential out-of-pocket costs.
At 500 Visa Insurance, international students can compare available OSHC options from Allianz Care, Bupa and nib in one place, making it easier to review available prices and policy options before making a decision.
For assistance with comparing OSHC:
Email: info@500visainsurance.com.au
Call: 0479 070 270
WhatsApp: +61 479 070 270