AIA Health Insurance is a small, for-profit health insurer that's part of the AIA life insurance group. On the government's figures it returns a high share of premiums as benefits, but covers a lower share of hospital charges than average. This review shows how AIA Health performs and how its AIA Vitality program works, and how to compare its cover.
Key points
- AIA Health Insurance Pty Ltd operates on a for-profit basis and holds 0.5% of the health insurance market.
- It returns 90.4% of premiums as benefits, well above the industry figure of 84.5%.
- It covered 79.4% of hospital-related charges, below the industry figure of 89.0%.
- 83.9% of its in-hospital medical services had no gap, below the industry figure of 87.1%.
- privatehealth.gov.au lists its brand as MyOwn.
- Its cover comes with access to AIA Vitality, AIA's rewards program, which you can only get by holding an eligible AIA insurance policy.
Who is AIA Health?
AIA Health Insurance Pty Ltd is a registered private health insurer that operates on a for-profit basis. privatehealth.gov.au lists it under the code MYO, with the brand MyOwn. It sells cover in every state and territory, and is part of the AIA group, which also offers life insurance and runs the AIA Vitality rewards program.
AIA Vitality: what sets AIA Health apart
AIA Vitality is AIA's health and wellbeing rewards program, and it's AIA Health's key point of difference. In Australia you can't join it on its own. You get it by holding an eligible AIA insurance policy, such as AIA Health hospital cover or AIA life insurance, taken out through AIA Australia or one of its approved partners. The version of the program you get depends on the cover you hold.
AIA says its health cover "comes with access to AIA Vitality". A single policy includes one membership, and couple and family policies include two, one for each adult. AIA lists Vitality with its Bronze, Bronze Plus, Silver and Silver Plus hospital policies, so check that the policy you're quoted includes it. For AIA Health members, that means you need at least an eligible AIA hospital policy. Extras-only cover on its own doesn't come with Vitality.
How it works
Members start at Bronze status and earn points for activities such as health checks and exercise, moving up to Silver, Gold and Platinum. The higher your status, the more you get back.
| What AIA Health members can get | What you need |
|---|---|
| A 5% discount on the health insurance premium, kept every year | Silver status or above |
| A full refund of the hospital excess | Silver status or above, and the policy held for at least 6 months |
| An extra 10% back on non-dental extras claims (Extras Boost). Annual limits don't change. | Silver status or above |
| Up to $260 a year in Active Benefits rewards | Hit your weekly activity targets |
| Up to $500 a year in shopping vouchers | Reach points milestones |
Source: AIA Australia, AIA Vitality and AIA Health Insurance pages, checked 11 November 2026. Discounts and rewards depend on your status and AIA's Premium Adjustment Rules, and can change. If your status drops below Silver, the Silver benefits stop. Eligibility and benefits are always subject to AIA's current program rules.
What this means: AIA Health's value depends on whether you'll use Vitality. If you'll stay at Silver or above, the premium discount, excess refund and extra extras benefits can offset its lower hospital figures. If you won't engage with the program, compare it on cover and price alone.
How AIA Health performs on the government's measures
Every registered fund reports the same measures to the government, which publishes them on privatehealth.gov.au. Here's how AIA Health compares with the industry.
| Measure | AIA Health | Industry |
|---|---|---|
| Market share | 0.5% | n/a |
| Share of all complaints to the Ombudsman | 1.6% | n/a |
| Share of complaints investigated | 4.5% | n/a |
| Premiums returned as benefits | 90.4% | 84.5% |
| Management expenses (share of premiums) | 10.6% | 10.9% |
| Members who keep hospital cover for a year or more | 84% | 85.0% |
| Hospital charges covered | 79.4% | 89.0% |
| Hospital medical services with no gap | 83.9% | 87.1% |
| Hospital medical services with no gap or a known gap | 95.0% | 97.1% |
| Extras charges covered | 44.3% | 50.7% |
Source: privatehealth.gov.au, insurer details for AIA Health Insurance Pty Ltd (MYO), checked 27 October 2026.
What this means in plain terms: a "no gap" service means you paid nothing out of pocket for that doctor's bill in hospital. A "known gap" means the doctor told you the cost upfront under the fund's gap scheme. AIA Health pays a high share of premiums back as benefits. However, it covered a lower share of hospital charges and its members were less likely than average to have no gap on doctors' bills, so check hospital agreements and gap schemes before you're admitted. Its share of complaints is above its market share.
What did AIA Health premiums do in 2026?
AIA Health's premiums changed on 1 April 2026, alongside the rest of the industry, where the approved average rise was 4.41%. We couldn't find a published average figure from AIA Health, so check the notice you received for your own change.
Source: health.gov.au, premium changes.
A fund-wide average hides a range. Your own change depends on your policy, state and level of cover, so check the letter your fund sent before 1 April. For why premiums rise every year, read our guide to premium increases.
What cover does AIA Health offer?
AIA Health sells hospital cover, extras cover and combined policies. Every registered fund's hospital policies sit in one of four government tiers, which set the minimum treatments covered.
| Tier | What it must cover |
|---|---|
| Basic | Psychiatric care, rehabilitation and palliative care, on a restricted basis |
| Bronze | Basic plus 18 categories in full, such as hernia and appendix, tonsils, joint reconstructions and chemotherapy |
| Silver | Bronze plus heart and vascular, back, neck and spine, lung and chest, dental surgery and more |
| Gold | All 38 categories, including pregnancy and birth, joint replacements, cataracts, IVF and dialysis |
Source: health.gov.au, hospital product tiers and clinical categories. Funds can also sell "Plus" policies that add categories from the tier above.
How long are AIA Health's waiting periods?
A waiting period is the time between starting cover and being able to claim. By law, hospital waiting periods can't be longer than these maximums. Most funds, AIA Health included, apply them for new members, but check your policy's fact sheet.
| Type of hospital claim | Maximum waiting period |
|---|---|
| Accidents | None |
| Psychiatric care, rehabilitation, palliative care | 2 months |
| Other hospital treatment | 2 months |
| Pre-existing conditions | 12 months |
| Pregnancy and birth | 12 months |
Source: privatehealth.gov.au, waiting periods. Extras waiting periods are set by each fund and vary by service, commonly 2 months for general dental and physio and up to 12 months for major dental and hearing aids.
If you switch to AIA Health from another fund at the same or a lower level of cover, you won't serve these waits again, as long as there's no gap in cover. You'll only serve them on new or higher benefits.
What the rebate means for AIA Health members: four examples
The Australian Government rebate applies to AIA Health policies the same way it applies to any registered fund. These examples use the 2026–27 rates and illustrative premiums, not actual AIA Health prices.
Single, 29, earning $98,000
On an illustrative $2,200 a year hospital and extras policy, the rebate is about $531, so the net cost is about $1,669.
Couple, 34 and 36, earning $225,000 combined
On an illustrative $4,600 a year policy, the rebate is about $740. Holding hospital cover also means they avoid a 1% surcharge, about $2,250.
Family, three kids, earning $150,000
On an illustrative $6,200 a year family policy, the rebate is about $1,495. Children are covered on a family policy, usually to age 21, or older if studying.
Single, 71, income $40,000
On an illustrative $3,600 a year policy, the rebate is about $1,158. A proposed cut to the over-65 rebate isn't law as of 27 October 2026.
Illustrative only. Premiums are made up for the examples, not real policy prices, and figures are rounded to the nearest dollar. Rates and thresholds: privatehealth.gov.au, 2026–27.
Compare AIA Health with other funds at the same tier and excess.
Compare health insuranceWho AIA Health may suit, and what to check
- May suit: people who value a high benefits payout ratio and will actively use AIA Vitality, since the premium discount, excess refund and Extras Boost depend on reaching Silver status.
- Check: that your hospital has an agreement with AIA Health, given its lower share of hospital charges covered.
- Gaps: ask specialists about AIA Health's gap scheme before treatment.
How to compare AIA Health with other funds
- Pick the hospital tier you need based on the treatments you want covered.
- Use the same excess for every quote, so you're comparing like with like.
- Check extras limits and how much is paid back per service, not just the premium.
- Look at each fund's no-gap and complaints figures on privatehealth.gov.au.
- Read each policy's Private Health Information Statement before you switch.
AIA Health health insurance: your questions answered
Is AIA Health a registered health insurer?
Yes. AIA Health Insurance Pty Ltd is listed on privatehealth.gov.au as a registered insurer operating on a for-profit basis.
What is MyOwn?
privatehealth.gov.au lists MyOwn as AIA Health's brand.
Does AIA Health pay out a lot of premiums as benefits?
On the government's figures it returned 90.4% of premiums as benefits, compared with 84.5% across the industry.
Why is the hospital charges covered figure lower?
It reflects how much of members' hospital bills were paid. Using agreement hospitals helps avoid hospital gaps.
Can I keep my waiting periods if I switch?
Yes, for the same or a lower level of cover, as long as there's no gap in cover. You'll serve waits only on new or higher benefits.
Can I claim the rebate?
Yes. The rebate applies to any complying policy from a registered fund.
Do I need AIA Health cover to get AIA Vitality?
You need an eligible AIA insurance policy. AIA Vitality can't be bought on its own in Australia. It comes with eligible AIA Health hospital policies and AIA life insurance, taken out through AIA Australia or an approved partner. With AIA Health, you need at least an eligible hospital policy, as extras-only cover doesn't include it.
How do I get the 5% premium discount?
AIA says members at Vitality Silver status or above keep a 5% annual discount on their health insurance premium. You reach Silver by earning Vitality points.
Sources
- Australian Government, privatehealth.gov.au, AIA Health Insurance Pty Ltd insurer details
- Australian Government, privatehealth.gov.au, Private health insurance rebate
- Australian Government, privatehealth.gov.au, Waiting periods
- Australian Government, privatehealth.gov.au, Out of pocket costs
- AIA Australia, AIA Vitality
- AIA Australia, AIA Vitality and Extras Boost
- AIA Australia, Get more back with private health insurance and AIA Vitality
Things you should know
This article is general information only and doesn't take your personal circumstances into account. Konkrd compares policies from a range of funds. Prices, products and offers change often and vary by state, excess and rebate tier. Read a policy's Private Health Information Statement before buying.
