Health informatics (HI) has become a significant research area due to the massive generation of digital health and medical data by biomedical and health research organizations. The health data sources are available in different forms namely electronic health records (EHRs), biomedical imaging, bio-signals, sensor data, genomic data, medical history, social media data, and so on. The structured health data can be utilized for HI and effective predictive modeling of health data assists in the decision-making process. The recently developed artificial intelligence (AI), machine learning (ML), and deep learning (DL) techniques pave a way for effective predictive modeling on health data. Numerous existing works have been presented in the literature depending upon the ML and DL based HI for various applications. With this motivation, this study aims to review the recent state of art ML and DL based predictive models for health sector. This survey primarily identifies the difference between the ML and DL architectures with their significance in health sector. In addition, the existing works are extensively reviewed and compared in terms of different aspects such as objectives, underlying methodology, input source, dataset used, performance validation, metrics, and so on. Finally, the open challenges and future scope of the HI are examined in detail. At the end of the survey, the readers find it useful to identify the present research and possible future scope of the ML and DL based predictive models for HI.