HCF joins Members Health Fund Alliance – A unified voice for not for profit health funds
8 November 2019 – Sydney,
HCF, Australia's most trusted health fund has joined up with Members Health Fund Alliance (Members Health), the largest unified voice for Australia's not-for-profit, member owned, regional and community based health sector.
"Members health before profit is our guiding philosophy. The size and scope of our alliance – with 27 health funds that are part of a not-for-profit group and cover more than 3 million lives, equip us with a trusted and strong voice in helping shape healthcare policy" said Mathew Koce, CEO of Members Health.
"We are proud to have HCF, Australia's largest not-for-profit health fund join Members Health. They bring more than 1.6 million Australian lives covered to Members Health. They also bring a fantastic reputation of being a truly member focussed company. We look forward to working together to ensure Australians get the best healthcare they can".
"Members Health funds represent 28 per cent of the private health insurance market, and together continue to grow well above the pace of the rest of the industry as more and more consumers are drawn to their exceptional quality of cover, high levels of customer satisfaction and member-first philosophy. HCF alone grew more than eight times the industry average over the 2018-19 period."
"HCF is Australia's largest not-for-profit health fund as well as the third largest private health insurer in Australia. Joining Members Health was a perfect fit for us, as both organisations are passionate about putting members first," said HCF CEO Sheena Jack.
"We look forward to working with Members Health to ensure the not-for-profit sector has a strong voice in the Australian private health insurance market," she concluded.
An independent survey of 20,000 participating Members Health funds' policyholders recorded an average trust score of almost 85 per cent – far above many of Australia's most recognisable brands.
"Members Health funds are run for people, not for profits, which means they can give more back to their members," Mr Koce said. "It is great to see that the not-for-profit business model is resonating with Australian families and that more people are enjoying the benefits that come from being with a Members Health fund."
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HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers over 1.5 million members with health and life insurance, community care, travel and pet insurance. On average over the last five years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. With over 35,000 specialists participating in its Medical Gap Cover Scheme and approximately 10,000 providers participating in its 100% back more for You programs, HCF gives members access to quality health care with no gaps or minimal costs compared to non-participating providers. To empower members to put their health first, HCF also offers a range of health and lifestyle services including its My Health Guardian health management program, mobile Victor Chang Health Checks and My Global Specialist second opinion service. HCF’s national network of retail outlets and Australian-based call centres have earned multi-award winning status. HCF members also have access to low cost, high quality services at HCF Dental Centres and HCF Eyecare Centres. Having contributed $50 million to support the health services research funded by the HCF Research Foundation, HCF is devoted to investing in the future of Australia’s health. To learn more about HCF go to hcf.com.au/about-us