privateFinancial Strength: ASX-listed; net income A$570.4M (2024)Online Signup

Medibank Private

80Score

★★★☆☆3.5

Customer satisfaction · 4.2M members

Canstar: Outstanding Value Hospital Insurance 2025(2025)Roy Morgan: Major Brand(2025)

Medibank Private is Australia's largest private health insurer with approximately 27-29% market share and 4.2 million customers. Originally government-owned (1975), it was privatized and listed on the ASX in 2014. It also operates 'ahm' as a budget brand and generated A$8.18 billion in revenue in 2024.

Overall Score

80/100

Founded

1975

Headquarters

Melbourne, Victoria

Type

private

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Key Metrics

Market Share

~27-29%

Revenue

A$8.18 billion (2024)

Total Assets

A$4.69 billion

Budget Brand

ahm

Editorial Ratings

Canstar: Outstanding Value Hospital Insurance 2025(2025)

Rating: Outstanding Value — Hospital Insurance (multiple states, 2025) (max: 5 Stars / Outstanding Value)

90Canstar

Roy Morgan: Major Brand(2025)

Rating: Major brand — moderate trust scores (max: Most Trusted Brand)

70Roy

Coverage Highlights

✓Largest market share and widest hospital/provider network in Australia
✓Dual-brand strategy: Medibank (premium) + ahm (budget)
✓Live Better wellness program and app
✓Hospital, extras, and ambulance cover across all states
✓Travel, life, and pet insurance also available

Pros

✓Largest market share and widest hospital/provider network
✓Dual-brand strategy (Medibank premium + ahm budget)
✓Strong financial position as ASX-listed company
✓Comprehensive product range

Cons

✗2022 data breach severely damaged trust and reputation
✗For-profit structure means focus on shareholder returns
✗Customer service complaints above average for large funds

Frequently Asked Questions

Is Medibank the largest health insurer in Australia?

Yes. Medibank Private is Australia's largest private health insurer with approximately 4.2 million customers and 27-29% market share. It also operates the 'ahm' budget brand.

What is the difference between Medibank and ahm?

Both are owned by Medibank Private Limited. Medibank is the premium brand with wider coverage options, while ahm is positioned as a budget-friendly alternative with simpler, more affordable plans.

Was Medibank affected by a data breach?

Yes. In 2022, Medibank experienced a significant data breach affecting 9.7 million people. The company has since invested heavily in cybersecurity improvements.

Does Medibank offer extras cover?

Yes. Medibank offers comprehensive extras (ancillary) cover including dental, optical, physiotherapy, chiropractic, and more, in addition to hospital cover.

Quick Summary

InsurerMedibank Private

Country🇦🇺 Australia

Overall Score80/100

Satisfaction3.5/5

Members4.2M

Typeprivate

Founded1975

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