The cheapest OSHC for international students in Australia costs AUD 623/year with ahm. Bupa offers the best coverage — 100% specialist reimbursement, optional dental/optical extras, a free online doctor service, and no mental health waiting period. All 5 providers are government-approved for the Student Visa (subclass 500). Prices range from AUD 52 to AUD 67/month for single cover in 2026.
Overseas Student Health Cover (OSHC) is mandatory for every international student studying in Australia on a Visa 500. Without it, your visa application is rejected. Only 5 insurers are licensed by the Australian government to offer OSHC: ahm, nib, Bupa, Medibank, and Allianz Care. CBHS exited the OSHC market in October 2025, leaving these 5 as your only options.
This guide compares all 5 providers with real 2026 prices, coverage details, and honest recommendations for every student scenario.
Quick Comparison: All 5 OSHC Providers at a Glance
| Provider | Annual (single) | Monthly (approx.) | Specialist cover | Mental health wait | Extras available | Best for |
|---|---|---|---|---|---|---|
| ahm | AUD 623 | ~AUD 52 | 85% MBS | 2 months | No | Budget students |
| nib | AUD 680 | ~AUD 57 | 85% MBS | 2 months | No | Best app experience |
| Bupa | AUD 760 | ~AUD 63 | 100% MBS | Waived | Yes (dental/optical) | Best coverage overall |
| Medibank | AUD 769 | ~AUD 64 | 85% MBS | None | No | Largest network |
| Allianz Care | AUD 806 | ~AUD 67 | 85% MBS | None | No | Families |
Note: All prices are for single student cover in 2026. Couple and family rates vary significantly — see individual provider sections below. All 5 providers meet the minimum government standards for Visa 500.
ahm — Cheapest OSHC for Single Students
Provider: ahm (wholly owned by Medibank) Annual price (single): AUD 623 Couple: AUD 5,400/year Family: AUD 11,000/year
ahm is the cheapest OSHC for single students at AUD 623/year — that is AUD 57 less than nib and AUD 183 less than Allianz Care. As a Medibank subsidiary, ahm uses the same hospital network but offers lower premiums through a simplified, online-first model.
What Is Covered
- Hospital: All public and private hospitals — no network restrictions
- Specialist: 85% of the Medicare Benefits Schedule (MBS) fee
- GP visits: Bulk-billed GP visits cost nothing out of pocket. Non-bulk-billed visits are reimbursed at 100% of MBS
- Medication: Prescription medicines on the PBS list, capped at AUD 300/year
- Ambulance: Emergency ambulance covered
- Mental health: Covered after a 2-month waiting period
- Pregnancy: Covered after 12-month waiting period
Who Should Choose ahm?
ahm is right for you if: You are a single student who wants the absolute lowest price, you are generally healthy, and you do not need extras like dental or optical cover. The AUD 300/year medication cap is the lowest of all providers, so if you take regular medication, consider Medibank or Bupa instead.
Not right for you if: You need dental or optical cover (ahm offers no extras), you take expensive medication regularly (AUD 300 cap vs AUD 500 at most competitors), or you want online doctor access.
Honest note: ahm is owned by Medibank. The two brands share the same parent company, hospital agreements, and claims infrastructure. The main difference is pricing and the availability of extras. ahm is the budget brand; Medibank is the full-service option.
nib — Best App Experience and Fast Claims
Provider: nib (ASX-listed health insurer) Annual price (single): AUD 680 Couple: AUD 5,335/year Family: AUD 13,895/year
nib is known for its excellent digital experience. The nib app consistently ranks highest among OSHC providers for ease of use, fast claims processing, and clear policy management. At AUD 680/year for single cover, nib sits in the middle of the price range.
What Is Covered
- Hospital: Public hospitals and nib agreement hospitals
- Specialist: 85% of MBS fee
- GP visits: 100% of MBS for bulk-billed visits; gap payments for non-bulk-billed
- Medication: PBS-listed medicines, capped at AUD 500/year
- Ambulance: Emergency ambulance covered
- Mental health: Covered after a 2-month waiting period
- Pregnancy: Covered after 12-month waiting period
Who Should Choose nib?
nib is right for you if: You value a smooth digital experience, want fast claims processing through the app, and are comfortable with a mid-range price. nib’s couple rate (AUD 5,335/year) is competitive.
Not right for you if: You want extras cover (nib does not offer dental or optical add-ons for OSHC), you need immediate mental health cover (2-month wait), or you are budget-focused (ahm saves you AUD 57/year).
Example: A 22-year-old IT student from Vietnam studying a 2-year Master’s at UNSW pays AUD 1,360 over 2 years with nib. She uses the app to submit a GP claim and gets reimbursed within 48 hours — faster than any paper-based process.
Bupa — Best Overall Coverage
Provider: Bupa (global health insurer) Annual price (single): AUD 760 Couple: AUD 5,026/year Family: AUD 11,500/year
Bupa offers the most comprehensive OSHC in Australia. It is the only provider that reimburses specialists at 100% of MBS (all others pay 85%), the only one with optional dental and optical extras, and the only one with a free online doctor service (Blua). The mental health waiting period is waived — you get coverage from day 1.
What Is Covered
- Hospital: Public hospitals and Bupa agreement hospitals
- Specialist: 100% of MBS fee — the highest reimbursement of any OSHC provider
- GP visits: 100% of MBS; gap payments may apply for non-bulk-billed visits
- Medication: PBS-listed medicines, capped at AUD 500/year
- Ambulance: Emergency ambulance covered
- Mental health: Covered from day 1 — no waiting period (waived)
- Pregnancy: Covered after 12-month waiting period
- Online doctor: Blua telehealth service included free — 24/7 access to a doctor via video call
- Optional extras: Dental and optical add-on available (additional cost)
Who Should Choose Bupa?
Bupa is right for you if: You want the best coverage available, you value specialist reimbursement at 100% MBS, you want mental health cover from day 1, or you need dental and optical extras. Bupa’s couple rate (AUD 5,026/year) is the second-cheapest for couples.
Not right for you if: You want the absolute cheapest option (ahm saves AUD 137/year for single cover) and you are healthy with no need for specialist visits or extras.
Why 100% MBS matters: When you see a specialist, they typically charge above the MBS fee. With 85% MBS cover, you pay the gap between what the insurer reimburses and what the specialist charges. With Bupa’s 100% MBS cover, your out-of-pocket gap is smaller. On a AUD 300 specialist visit where MBS is AUD 200, you save AUD 30 compared to 85% MBS providers.
Medibank — Largest Hospital Network, No Mental Health Wait
Provider: Medibank (Australia’s largest health insurer) Annual price (single): AUD 769 Couple: AUD 4,856/year Family: AUD 11,163/year
Medibank is Australia’s largest health insurer and the parent company of ahm. It has agreements with every public and private hospital in Australia — the broadest network of any OSHC provider. Mental health coverage starts from day 1 with no waiting period, and the medication cap is AUD 500/year.
What Is Covered
- Hospital: All public and private hospitals — the broadest network of any OSHC provider
- Specialist: 85% of MBS fee
- GP visits: 100% of MBS for bulk-billed visits
- Medication: PBS-listed medicines, capped at AUD 500/year
- Ambulance: Emergency ambulance covered
- Mental health: Covered from day 1 — no waiting period
- Pregnancy: Covered after 12-month waiting period
Who Should Choose Medibank?
Medibank is right for you if: You want the broadest hospital network (important if you study in a regional area), you need mental health coverage immediately, or you are a couple looking for the cheapest couple rate (AUD 4,856/year — cheapest of all 5 providers).
Not right for you if: You are a single student on a budget (ahm offers the same hospital network for AUD 146 less per year), or you want extras like dental and optical (only Bupa offers this).
Medibank vs ahm: Both share the same parent company and hospital agreements. Medibank costs AUD 146 more per year for single cover. What you get for the extra cost: no mental health waiting period (vs 2 months at ahm), AUD 500 medication cap (vs AUD 300), and phone-based customer service with dedicated OSHC support. If you are healthy and comfortable managing everything online, ahm is the smarter choice.
Allianz Care — Best Value for Families
Provider: Allianz Care Australia (partnered with Peoplecare) Annual price (single): AUD 806 Couple: AUD 4,597/year Family: AUD 8,917/year
Allianz Care is the most expensive option for single students at AUD 806/year. However, it offers the cheapest family cover by a significant margin — AUD 8,917/year compared to AUD 11,000+ at every other provider. If you are bringing a spouse and children to Australia, Allianz Care saves you thousands.
What Is Covered
- Hospital: Public hospitals and Allianz agreement hospitals
- Specialist: 85% of MBS fee
- GP visits: 100% of MBS for bulk-billed visits
- Medication: PBS-listed medicines, capped at AUD 500/year
- Ambulance: Emergency ambulance covered
- Mental health: Covered from day 1 — no waiting period
- Pregnancy: Covered after 12-month waiting period
- 24/7 support: Phone and online assistance available around the clock
Who Should Choose Allianz Care?
Allianz Care is right for you if: You are bringing your family to Australia. The family rate of AUD 8,917/year saves AUD 2,083 compared to ahm (AUD 11,000), AUD 2,246 compared to Medibank (AUD 11,163), and AUD 4,978 compared to nib (AUD 13,895).
Not right for you if: You are a single student — Allianz Care costs AUD 183 more per year than ahm for similar coverage. The couple rate (AUD 4,597/year) is the cheapest, but the single rate is the most expensive.
Example: A 28-year-old PhD student from Brazil brings his wife and two children to Melbourne. With Allianz Care, his annual OSHC bill is AUD 8,917. The same family cover costs AUD 13,895 with nib — a difference of AUD 4,978/year. Over a 4-year PhD, Allianz Care saves nearly AUD 20,000.
Head-to-Head Comparison: All 5 Providers
| Feature | ahm | nib | Bupa | Medibank | Allianz Care |
|---|---|---|---|---|---|
| Annual price (single) | AUD 623 | AUD 680 | AUD 760 | AUD 769 | AUD 806 |
| Annual price (couple) | AUD 5,400 | AUD 5,335 | AUD 5,026 | AUD 4,856 | AUD 4,597 |
| Annual price (family) | AUD 11,000 | AUD 13,895 | AUD 11,500 | AUD 11,163 | AUD 8,917 |
| Specialist cover | 85% MBS | 85% MBS | 100% MBS | 85% MBS | 85% MBS |
| Hospital access | All hospitals | Public/agreement | Public/agreement | All hospitals | Public/agreement |
| Medication cap | AUD 300/yr | AUD 500/yr | AUD 500/yr | AUD 500/yr | AUD 500/yr |
| Mental health wait | 2 months | 2 months | Waived (day 1) | None (day 1) | None (day 1) |
| Online doctor | No | No | Blua (free) | No | No |
| Extras (dental/optical) | No | No | Optional add-on | No | No |
| App quality | Good | Best | Good | Good | Average |
| Parent company | Medibank | nib Holdings | Bupa Group | Medibank | Allianz + Peoplecare |
Which OSHC Is Right for You? 5 Scenarios
Scenario 1: Budget Single Student
Best choice: ahm (AUD 623/year)
You are a single student who wants the cheapest OSHC. You are generally healthy, do not take regular medication, and do not need dental or optical coverage. ahm saves you AUD 57–183/year compared to other providers.
Trade-off: Lowest medication cap (AUD 300 vs AUD 500), 2-month mental health wait, no extras.
Scenario 2: Student Who Wants the Best Coverage
Best choice: Bupa (AUD 760/year)
You want the most comprehensive protection. Bupa is the only OSHC with 100% specialist reimbursement, optional dental/optical extras, a free online doctor (Blua), and a waived mental health waiting period. The premium is AUD 137 more than ahm — about AUD 11.40 extra per month.
Scenario 3: Couple Studying in Australia
Best choice: Medibank (AUD 4,856/year)
Medibank offers the cheapest couple rate, saving AUD 170 compared to Allianz Care and AUD 544 compared to ahm. You also get the broadest hospital network and no mental health waiting period.
Scenario 4: Family with Children
Best choice: Allianz Care (AUD 8,917/year)
This is where Allianz Care dominates. The family rate saves AUD 2,083 compared to the next cheapest (ahm at AUD 11,000). Over a 3-year degree, that is AUD 6,249 saved. No other provider comes close for families.
Scenario 5: Student Needing Mental Health Support
Best choice: Bupa, Medibank, or Allianz Care
All three offer mental health coverage from day 1 with no waiting period. ahm and nib require a 2-month wait. If mental health support is important to you, avoid ahm and nib.
Among the three, Bupa adds the free Blua online doctor service — useful for an initial consultation without visiting a clinic.
How OSHC Works in Australia
What Is the Medicare Benefits Schedule (MBS)?
The MBS is the Australian government’s schedule of fees for medical services. When an OSHC provider says they cover “85% of MBS” for specialist visits, they reimburse 85% of the government-set fee — not 85% of what the specialist actually charges. Specialists often charge above MBS, so you may still have an out-of-pocket “gap” payment.
Example: A dermatologist charges AUD 250 for a consultation. The MBS fee for that service is AUD 150. With 85% MBS cover, your insurer pays AUD 127.50 (85% of AUD 150). You pay AUD 122.50 out of pocket. With Bupa’s 100% MBS cover, the insurer pays AUD 150. You pay AUD 100 out of pocket — saving AUD 22.50 per visit.
Waiting Periods Explained
All OSHC providers impose waiting periods for certain services:
| Service | Typical waiting period |
|---|---|
| GP visits | None — covered immediately |
| Hospital | None (except pre-existing conditions) |
| Specialist | None — covered immediately |
| Mental health | 0–2 months (varies by provider) |
| Pregnancy/birth | 12 months |
| Pre-existing conditions | 12 months |
Pre-existing conditions: All OSHC providers impose a 12-month waiting period for pre-existing conditions. This is an Australian government rule, not a provider choice. If you have a known condition before arriving, you will not be covered for treatment of that condition for the first 12 months.
Bulk Billing — How to Pay Nothing at the GP
A bulk-billing GP charges the insurer directly and accepts the MBS rebate as full payment. You pay nothing out of pocket. Not all GPs bulk-bill international students, but many do — especially in university health clinics and urban areas.
Tip: Use your provider’s app or website to find bulk-billing GPs near your university. This is the single most effective way to minimize your healthcare costs in Australia.
CBHS — Why It Is No Longer on This List
CBHS (Combined Health Benefits Society) exited the OSHC market in October 2025. If you previously held an OSHC policy with CBHS, your cover was transferred to another provider. New students cannot purchase OSHC from CBHS. This leaves 5 government-approved OSHC providers for 2026.
Frequently Asked Questions
Is OSHC mandatory for all international students?
Yes. Every international student on a Student Visa (subclass 500) must hold OSHC for the entire duration of their visa. Without OSHC, your visa application will be rejected. You must purchase OSHC before applying for your visa and maintain it throughout your stay.
Can I choose any OSHC provider, or must I use my university’s preferred provider?
You can choose any of the 5 approved providers. Many universities have preferred provider arrangements with discounted rates — sometimes 5–15% cheaper than market prices. Check with your international student office first, but you are not obligated to use the university’s preferred provider.
Can I switch OSHC providers during my studies?
Yes. You can switch providers at any time. Contact your new provider, who will arrange the transfer. Your waiting periods carry over — you do not restart them with a new provider. Make sure there is no gap in coverage.
Does OSHC cover dental and optical?
Standard OSHC does not cover dental or optical. Bupa is the only provider offering optional dental and optical extras as an add-on to your OSHC policy (at additional cost). If you need regular dental or eye care, consider Bupa’s extras option or purchase a separate extras policy.
What happens if I need to go to the emergency room?
All OSHC providers cover emergency hospital treatment. Go directly to the nearest hospital emergency department. You do not need pre-approval for genuine emergencies. The hospital will bill your OSHC provider. At public hospitals, you will typically have no out-of-pocket costs for emergency treatment.
How do I make a claim?
Most providers offer app-based claiming. Visit your GP or specialist, pay upfront (unless they bulk-bill), then submit the receipt through your provider’s app. Reimbursement typically takes 2–5 business days. nib and Bupa generally process claims fastest.
Does OSHC cover me if I travel outside Australia?
OSHC covers you in Australia only. If you travel overseas during semester breaks, you need separate travel insurance. Some providers offer limited coverage for short overseas trips as part of their policy — check your specific plan terms.
What happens to my OSHC after I graduate?
OSHC ends when your student visa expires. If you transition to a post-study work visa (subclass 485), you need Overseas Visitors Health Cover (OVHC) instead. Read our guide on health insurance after OSHC for the full transition process.
Related Articles
- How to Get Student Health Insurance in Australia (OSHC Guide)
- Australia After OSHC: Post-Study Health Insurance for the 485 Visa
- Cheapest Health Insurance for International Students 2026
- How to Choose the Right Health Insurance as an International Student
- What Happens If You Have No Health Insurance as a Student?
Ready to Compare OSHC Plans?
Use our OSHC comparison tool to see all 5 providers side by side with real-time pricing for your specific visa duration. Or read our complete OSHC guide for Australia if you want to understand the basics first.
For personalized advice, try the Insurance Finder — it recommends the best plan based on your study destination, visa type, and budget.
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