If you are planning to study in Australia in 2026, make sure Overseas Student Health Cover (OSHC) is the first thing you take care of. Afterall, it is a visa requirement for Subclass 500 — Student Visa. Without a proper OSHC — the one that covers the entire duration of your stay in Australia, your application wouldn’t move forward. Most students already know this, but they get lost in the pool of options.
Some common questions that keep coming up are:
- How much does OSHC actually cost? and
- How can I find the cheapest option?
The problem is that OSHC costs depend on the provider, duration, level of cover and the type of cover (single or family) you choose. No one answered ‘How much does OSHC actually cost?’. This is exactly why comparing OSHC plans before buying is so important. This way, you can also find out the cheapest plan that actually serves you right.
Let’s break down 2026 OSHC costs, hidden fees, refund rules and smart budget tips.
What Is OSHC and Why Do Prices Vary?
OSHC(Overseas Student Health Cover) is health insurance designed specifically for international students in Australia. It helps cover:
- Doctor visits (GPs)
- Hospital treatment
- Emergency care
- Prescription medicines
- Ambulance services (in most plans)
Even though OSHC is mandatory, prices are not fixed by the government. Each provider sets its own rates, which is why OSHC costs can vary noticeably from one insurer to another.
It is therefore essential to compare OSHC prices for different plans, instead of buying the first policy you see.
Average Student Cover (OSHC) Cost in 2026
In 2026, OSHC prices are expected to rise slightly due to healthcare inflation. Here is a general cost range for single student cover:
- 1 year OSHC: AUD 500–AUD 720
- 2 years OSHC: AUD 1,000–AUD 1,400
- 3 years OSHC: AUD 1,500–AUD 2,100
- 4–5 years OSHC: AUD 2,500–AUD 3,500+
If you are looking for the cheapest OSHC, basic plans usually cost less. However, these plans also come with lower benefit limits.
Cheapest OSHC vs Best Value OSHC: What’s the Difference?
Many students search for cheap OSHC Australia, but cheaper is not always better.
- Cheapest OSHC
- Lower premium
- Limited extras
- Lower medicine or specialist caps
- Best value OSHC
- Slightly higher cost
- Better prescription coverage
- Higher hospital and GP benefits
This is where comparison matters. A plan that looks cheap upfront may cost you more later as out-of-pocket costs when you visit doctors or need medicines.
Using a comparison platform like OSHC Policy helps you see price and benefits of multiple plans on the same screen. This way, it is easier to judge real value.
OSHC Family and Couple Cover Costs
With dependents, OSHC costs increase significantly. Here is the approximate cost of plans for 2026:
- Couple OSHC: AUD 3,000–AUD 4,500 per year
- Family OSHC: AUD 3,800–AUD 6,000+ per year
Family cover includes a partner and children, but benefit limits and waiting periods differ by provider. Comparing policies is even more important here, as price gaps between insurers can be huge.
Hidden Fees Students Often Miss
When budgeting for OSHC, don’t just look at the headline price. Watch out for:
- Waiting periods for certain treatments
- Prescription medicine caps (often as low as AUD 300–500 per year)
- Out-of-pocket GP costs if the clinic charges above schedule fees
- Refund processing fees charged by some providers
These details are easy to overlook if you buy directly from one insurer without comparing alternatives.
OSHC Refunds: What You Should Know
Many students worry about refunds if their plans change. OSHC refund generally works based on a few rules. You may be eligible for a refund if:
- Your student visa is refused.
- Your course duration is shortened.
- You leave Australia earlier than planned.
- You switch to another OSHC provider.
However:
- Refunds are usually pro-rata.
- Some providers charge administration fees.
- Processing time can take 2–6 weeks.
Before buying, it’s smart to check refund policies clearly — especially if your study plans are uncertain.
How to Find the Cheapest OSHC in Australia
Here are practical tips to reduce your OSHC cost without risking visa compliance:
- Always Compare OSHC Prices: Never rely on a single provider’s website. Use a platform that lets you compare OSHC prices from top insurers side by side. Small differences can save you hundreds of dollars over multiple years.
- Match OSHC Duration to Your CoE: Overbuying coverage leads to wasted money. Make sure your OSHC length matches your Confirmation of Enrolment (CoE) dates accurately.
- Avoid Paying for Extras You Don’t Need: Some plans include higher pharmacy or specialist limits that you may never use. Basic cover is often enough for healthy students.
- Buy Multi-Year Cover Carefully: Multi-year OSHC can be cheaper per year, but refunds can be more complicated if plans change. Compare before committing.
- Use Comparison Platforms: Comparison platforms like OSHC Policy allow you to explore plans transparently, without being pushed toward one insurer.
Why Use OSHC Policy to Compare and Buy OSHC?
OSHC Policy is designed for students who want clarity. On OSHC Policy, you can:
- Compare OSHC prices from top providers on the same tab.
- View benefits, limits, and inclusions clearly.
- Identify the cheapest OSHC for your situation.
- Explore options at your own pace.
- Buy the plan that fits your budget and visa needs.
Instead of visiting multiple insurer websites, everything is shown in one place — making decision-making faster and simpler.
Plan Smart, Not Just Cheap
OSHC is a long-term expense. You need to look at it beyond just a visa checkbox. Choosing the cheapest OSHC without understanding coverage can lead to higher out-of-pocket costs later. The best approach is to compare OSHC prices. This way, you understand the benefits and refund rules that come with each plan.
Finding a cheap OSHC in Australia is beneficial as long as the plan meets your medical needs. OSHC Policy lets you find one easily.
