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The short answer
Overseas Student Health Cover (OSHC) is the health insurance every Australian student visa holder must have for the whole visa, arranged before the visa is granted. A 2026 guide by Widen Migration puts typical annual costs at about AUD 500 to 700 for a single student, AUD 1,200 to 1,500 for a couple and AUD 1,800 to 2,500 for a family, from approved insurers such as Medibank, Bupa, Allianz and nib.
Australia does not let international students rely on travel insurance or a Nigerian HMO. A subclass 500 visa holder needs OSHC, a specific product sold by a small group of Australian insurers, and it has to run for the full length of the visa. For most Nigerian students it is bought through the university at the same time as the tuition deposit, though you can buy it directly.
What OSHC is for
OSHC helps pay for medical and hospital care in Australia, and keeping it is a condition of the student visa. If you bring a partner or children, they need to be on your policy too, which is why a couple or family policy costs more than a single one. Policies vary in what they include beyond the basics, so compare the policy documents rather than the price alone.
What it costs: 2026 ranges
Prices depend on the insurer, the length of cover and who is on the policy. Widen Migration's 2026 guide gives these approximate annual ranges:
| Cover type | Approximate annual cost (AUD) |
|---|---|
| Single | 500 to 700 |
| Couple | 1,200 to 1,500 |
| Family | 1,800 to 2,500 |
Example: a two-year master's
Example only. A single student on a two-year course whose visa also covers the extra weeks at the end might buy around 26 months of cover. At an illustrative AUD 600 a year, two full years cost AUD 1,200, and two more months at AUD 50 a month (600 ÷ 12) add AUD 100, for about AUD 1,300 in total, usually paid upfront. A couple at an illustrative AUD 1,350 a year would pay AUD 2,700 for two years before the extra months.
Who sells it
Only approved insurers can sell OSHC. Widen names Medibank, Bupa, Allianz and nib among them; there are others. Many universities have a preferred insurer and add the premium to the offer letter, which is convenient but not compulsory. If you buy elsewhere, make sure the policy is OSHC, not general travel cover, and that the dates match your visa.
How to buy it from Nigeria
- Get your offer and expected course dates from the university.
- Decide whether to accept the university's OSHC or buy directly from an approved insurer.
- Choose single, couple or family cover to match everyone on your visa application.
- Set the start date to cover your arrival and the end date to cover the full visa period.
- Pay in Australian dollars and keep the policy number and certificate; you will enter the details in your visa application.
Payment is usually by card or through the university's tuition payment channel. A naira card may struggle with the amount, so check your foreign-spend limit or have a sponsor abroad pay. The visa itself is a separate charge, covered in our Australia student visa fee guide.
Comparing policies sensibly
Because every approved insurer offers the cover the visa requires, the differences are in price, service and extras. When you compare, look at:
- Waiting periods
- Some services, often pregnancy-related or pre-existing conditions, may have waiting periods. Read them if they apply to you or your partner.
- Direct billing
- Whether the insurer pays clinics directly or you pay and claim back. Paying first can be awkward in your first weeks.
- Refund and change rules
- What happens to the premium if your visa is refused, your course is deferred or a dependant joins later.
- Support channels
- How you contact the insurer from abroad before you travel.
Common mistakes
- Cover that ends too early. The visa can run past your last class. Match the policy to the visa, not the course.
- Forgetting dependants. A partner or child added later needs the policy upgraded before they apply.
- Counting OSHC as part of living costs. Financial capacity figures are separate. ApplyBoard's indicative 2026/27 living-cost figure is AUD 29,710 for the student alone.
- Not reading the refund terms. If the visa is refused or you defer, what happens to the premium depends on the insurer's own rules; read them before you pay.
Where Pryme fits
An OSHC premium is billed in Australian dollars, which Pryme does not hold, so it will be converted at the point of payment. A Pryme account can still help you plan: keep sponsor money in USD or GBP with its own account details, and use verifiable receipts through VerifyDoc.ai to show a sponsor what was paid. For the bigger picture, see which currency to save in for a move.
Questions people ask
How much is OSHC for one year?
A 2026 guide put single cover at about AUD 500 to 700 a year. The insurer shows the exact price for your dates and visa length.
Can I use my Nigerian HMO for an Australian student visa?
No. Student visa holders need Overseas Student Health Cover from an approved Australian insurer.
Is OSHC paid yearly or all at once?
It is commonly paid upfront for the whole visa period before the visa is granted, though insurers' payment options differ.
Does my wife need OSHC too?
Yes. A partner or children coming with you must be covered, normally on a couple or family policy.
Sources
- Widen Migration: Student visa Australia cost 2026 (reviewed Aug 2026) · accessed Oct 2026
- Department of Home Affairs: Student visa (subclass 500) (updated 12 Oct 2026) · accessed Oct 2026
- ApplyBoard Assist: Australia student visa financial capacity (2 Sep 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.