WELCOME RT HEALTH
We’re pleased to welcome rt Health who are now part of HCF Group.
HCF is Australia’s largest not-for-profit health fund and we’re proud to play a role in preserving rt Health’s 130-year legacy and valuable member relationships while enabling the fund to grow and better support its members.As proud, member-owned organisations, we share a commitment to improving the wellbeing of our members and understand the significant value provided by not-for-profit mutuals. We believe this merger will deliver more benefits and better long-term value for rt members while supporting the viability of the mutual health fund industry.
HCF and rt Health have entered into a Merger Implementation Deed and submitted an application to the Australian Prudential Regulation Authority (APRA) to approve the merger. APRA is the government prudential body responsible for all private health insurers.
We look forward to working with rt Health and welcoming their members. Once merged with HCF, the rt brand and services will continue as normal and rt members should expect the same levels of care and support as well as access to valuable new benefits over time.
Some of the reasons rt health have chosen to merge with HCF
Our strong commitment to protecting Australians’ health hasn’t changed for almost 90 years. As a not-for-profit health fund, we’re proud to put the health of our 1.8 million members before profit.
Our member-driven approach helps us keep premiums affordable, reward members for their loyalty and make quality care more accessible to more people. For every dollar our members pay in premiums, we’ve paid out more benefits than the industry average over the last 10 years^.
Greater access over time to popular dental and optical services through our large provider network, as well as our members-only health and wellbeing programs.
During the pandemic we’ve put the health of our member first with $83 million* in financial relief including a 6 month deferral of last year's premium increase and support to more than 71,000* members experiencing severe hardship.
The merger will see HCF and rt Health funds come together as like-minded, not-for-profit leaders.
HCF intends to continue making the rt Health brand and products available to rt Health members, while giving them more choice over their cover and ultimately, better long-term value.
Once merged, the rt brand and services will continue as normal and rt members should expect the same levels of care and support as well as access to valuable new benefits over time.
Regular updates will be provided to members on the progress of the merger. There is no action required from rt Health or HCF members. If you want to know more we’ve prepared some frequently asked questions below or you can contact rt Health's member service team.
Why is HCF merging with rt Health?
HCF and rt Health have signed a Merger Implementation Deed for our two organisations to merge and have submitted an application to APRA to approve the merger.
rt Health (Railway and Transport health fund) is a smaller, Australian owned mutual (not for profit) health fund with approximately 48,000 members primarily servicing employees of the rail, bus and energy sectors. Rt Health has been delivering the best health protection for its members for over 130 years, and this commitment remains integral to our combined HCF/rt strategy.
HCF, Australia’s leading not-for-profit mutual health fund shares rt’s Health’s vision, values, and passion for delivering the best member outcomes. As a combined entity both HCF and rt Health will continue to put members at the heart of everything we do.
The merger will see rt Health sit under the HCF umbrella, while remaining an independent brand dedicated to the rail, transport and energy industries, enabling them to deliver the same levels of service and care for its members. HCF intends to continue to make the rt Health brand and products available to rt Health members, while giving them more choice over their cover and ultimately, better long-term value.
What does this mean for HCF members?
HCF intends to maintain the rt Health brand and products as an independent brand dedicated to the rail, transport and energy industries. For HCF members, it will be business as usual. Your policy remains the same. Your contributions remain the same. The HCF brand remains the same. The dedicated HCF health staff serving you remain the same.
Will any of my benefits be changing?
Your benefits will remain the same as it is now.
Will my product coverage change?
There are no changes to your policy, and you can continue to use your health cover the same way as you always have.
Will my premium change?
Your premiums will remain the same until April 2022.
Why is rt Health merging with HCF?
This merger will ensure the long-term sustainability of rt Health and provide a number of benefits for its members, including lower premiums, greater clinical coverage, and investment in better health programs and facilities. rt Health is Australia’s oldest health fund, founded more than 130 years ago, and we have great respect for its heritage, and its current and ongoing role in serving the rail, transport, and energy industries.
What does this mean for rt Health?
The merger will provide a number of benefits for rt Health members, including sustained lower premiums, greater clinical coverage, and investment in better health programs and facilities. The rt Health brand will be maintained, alongside the dedicated rt Health team and the fund’s unwavering focus on the specific needs of workers in the rail, transport and energy industries.
When is this merger happening?
HCF and rt Health boards have signed a Merger Implementation Deed and submitted an application to Australian Prudential Regulation Authority (APRA) to approve the merger. APRA is the government regulatory body responsible for all private health insurers. We expect the merger to be formalised and completed later this year, subject to APRA's approval.
Where can I find out more?
rt Health will provide regular updates on the progress of the merger. There is no action required from you. However, if you do want to know more you can visit rt Health at rthealthfund.com.au/our-future or call rt Health’s member service team on 1300 886 123.
* Figures current for the period March 2020 to June 2021.
^ 89.2% compared to 85.6% across the industry. Calculated based on the average of the past 10 years, sourced from APRA Statistics: Private Health Insurance Operations Reports 2014-23.