2026 Overseas Student Health Cover and Working Visa Health Cover Awards

Canstar releases its
2026 Overseas Student and Working Visa Health Cover and Awards.

Released: 30 April, 2026

Congratulations to the Award winners

(Winners are listed alphabetically)

ahm

Outstanding Value – Overseas Student Health Cover

ahm has retained the Outstanding Value Overseas Student Health Cover Award this year. Most OSHC customers are single students, and that’s where ahm leads — pairing a competitive price (from around $631 for 12 months) with a strong cover offering across most policy durations. 

HBF

Outstanding Value – Working Visa Health Cover

HBF has retained the Outstanding Value Working Visa Health Cover Award this year. On 1 April 2026, HBF cut the premium on its hospital-only product by 27% and removed the excess entirely, making it the cheapest visa-compliant option on the market at the time. HBF also offers broader cover for visa holders for out-of-hospital medical treatments, like prescription medicine, specialists and GPs.

nib

Outstanding Value – Working Visa Health Cover

nib has also retained the Outstanding Value Working Visa Health Cover Award this year. Most insurers only cover in-hospital medical services up to the Medicare Benefits Schedule (MBS) rate, leaving patients to pay the gap when specialists charge more (and most do). nib is the only provider currently offering 100% back on in-hospital medical services, removing that gap risk. Its standard and advantage products include out-of-hospital cover, with the option to add extras, and are among the most competitive in the market for visa holders who want broader cover.

About this year’s awards

The OSHC market has been relatively stable this year. The most notable shift is the exit of CBHS Corporate — last year’s OSHC winner — from the market in November 2025. Otherwise, the student market has continued much as it was. Because OSHC is tightly regulated and products must meet the same minimum standards of cover, products can look very similar and price tends to be the key difference between them.

The Working Visa market tells a different story. Providers are increasingly designing for two different kinds of customers: those looking to satisfy their visa condition at the lowest possible cost, and those settling into life in Australia and wanting to use the health system. Products that include out-of-hospital cover can be three times more expensive than their equivalent hospital-only product, reflecting a fundamentally different risk profile — GP and specialist visits are high-frequency claims that visa holders are more likely to use, while hospitalisation is low-frequency.

Between this year’s award winners, HBF and nib give working visa holders meaningful choice across both ends of this market — from the cheapest visa-compliant cover to more comprehensive options that include out-of-hospital medical services.

How we assessed value

We assess OSHC and Working Visa products in two areas: what they cost a customer, and what they cover. Both are weighed together to calculate overall value.

For OSHC, we assess products across household types (single, couple, family), with single-student cover carrying the most weight because most international students are single. Because OSHC must be paid in full up front, we assess the total premium across each visa length — from one through five years — alongside the features each product offers.

For Working Visa Health Cover, we assess products across single, couple, and family policyholders. Cost isn’t just the premium — it also includes scenarios that reflect what a customer could realistically pay out of pocket through excess and co-payments if they needed hospital treatment.

Across both awards, the cover we assess includes in-hospital treatment, out-of-hospital medical services (GP, specialist, pathology, radiology), prescription medicines, and where relevant, extras like dental and optical and cover for returning home if serious illness arises.

Who we looked at

To be eligible for the Outstanding Value Overseas Student Health Cover Award, providers must:

• Be approved by the Australian Government Department of Health
• Not be restricted solely to members of a specific organisation
• Be available across all five visa durations (1 to 5 years)

Insurers currently approved to offer OSHC in Australia: ahm, Allianz, Bupa, Medibank, nib

To be eligible for the Outstanding Value Working Visa Health Cover Award, products must:

• Help the visa holder comply with visa condition 8501 (maintaining adequate health insurance while in Australia), which applies to common working visas including 482 Temporary Skill Shortage, 485 Skilled Graduate, and 417 Working Holiday
• Cover treatment in a private hospital
• Include either hospital-only cover or hospital and out-of-hospital medical cover

What to keep in mind when considering OSHC & Working Visa Health Cover

Our award winners can be a great place to start when beginning your search, but the right policy for you may depend on which kind of visa holder you are and how you think you might need to use the health system.

If you are on a Working Visa:

Decide what you actually want cover for

If you’re looking for the cheapest option that meets your visa requirement, hospital-only cover will usually be the most cost-effective choice. If you want to use the Australian health system more broadly and access services like GP visits, specialists, prescriptions, and extras like dental, you may want to look at more comprehensive products. These are generally more expensive than hospital-only, but provide more cover when you visit, though there may still be out of pocket costs.

Check the cover on in-hospital medical services

When you’re admitted to hospital, there are generally two main costs involved: the cost of the hospital stay itself, and the cost of the medical professionals treating you,  like surgeons, anaesthetists, and specialists. Most insurers cover medical professional costs up to the Medicare Benefits Schedule (MBS) rate, but these professionals often charge more than that. In these cases, you pay the difference, or “gap”, out of pocket. There are policies that pay 100% on in-hospital medical services, which removes the gap risk on covered procedures, but it isn’t the default across the market.

If you’re looking for OSHC:

Look at your specific household type

Products offer different prices based on whether you’re coming to Australia single, in a couple, or with a family. If you’re coming with a partner or family, the most competitive provider for singles may not be the most competitive for your situation. For example, while ahm can deliver outstanding value for the single segment, students coming to Australia with family could also look at Allianz, who stood out as offering strong value in our assessment for that segment. Check how the product performs for your specific household before deciding.

If you’re a student moving onto a Working Visa, your cover needs change 

OSHC covers you while you’re on a student visa. If you move onto a working visa after your studies — such as the 485 Graduate Work Visa — you’ll need Working Visa Health Cover instead, to meet your new visa’s health insurance condition. These Working Visa award winners are a starting point for your comparison. When you switch providers or products, check whether your new insurer can transfer any waiting periods you’ve already served on your OSHC policy — many can, but the details vary.

What this award is and isn’t

What it is:

• A like-for-like comparison: We compare products on price and features using consistent consumer profiles, so providers are measured on the same basis.
• Reflective of what’s in the market: We assess products that are currently available to the visa holders they’re designed for. 
• Focused on value, not price alone: A product’s total score reflects both what it costs and what it covers.

What it isn’t:

• Personal financial advice: This Award doesn’t consider your individual circumstances, health needs, or visa situation, and shouldn’t be taken as a recommendation.
• A guarantee of future performance: We assess performance over a defined assessment window. Past results aren’t a reliable indicator of what a product will deliver in future, and premiums and features can change at any time.
• A list of every provider in Australia: While we try to include the majority of the market, some smaller providers or those that don’t meet our eligibility criteria may not be included.

Does Canstar rate other products?

About: Keely Robinson, Ratings Manager

Bachelor of Business (Finance and Marketing) with Distinction, QUT

As the Ratings Manager in Canstar’s Research department, Keely leads a team responsible for developing ratings methodologies and delivering Canstar’s flagship Star Ratings and Awards. With a strong focus on making financial products understandable and comparable for Australian consumers, Keely and her team assist consumers in navigating the intricacies of financial products in the market.

Keely joined Canstar as a Research Analyst and has progressed into her current position, where she is responsible for the delivery of ratings across the wealth, insurance, banking, and utilities portfolios. Keely is dedicated to continuously enhancing Canstar’s methodologies to ensure our Star Ratings reflect the current market. She strives to simplify complex data, offer valuable insights, and empower consumers to make well-informed decisions regarding their personal finances. Keely also leads and contributes to strategic business initiatives to ensure continuous improvement of Canstar’s methodologies, ratings calculations and quality of underlying data.

Connect with Keely Robinson on LinkedIn.