Sydney, Wednesday October 13, 2021

HCF, Australia’s largest not-for-profit health insurer, today announced it will return $66 million of claims savings to all PHI members as part of its continued COVID-19 support for members.

Total support provided to members since the commencement of the COVID-19 pandemic now exceeds $150 million.

HCF Chief Executive Officer Sheena Jack said the additional support reflected HCF’s commitment to return claims savings to members in recognition of the impact of COVID-19 restrictions on their ability to access some health services over the past 20 months.

“The anticipated volume in claims due to the postponement of some health services has not fully eventuated, which means we're passing these savings on to all members by freezing premiums at current rates until 1 November 2022,” Ms Jack said.

“The freezing of premiums at current rates was the most cost effective way of returning funds to members. Our aim is to make the process as simple as possible so that every dollar of savings is returned to members and not to a costly return process. This action is in line with our commitment to keep health cover affordable and available to as many Australians as possible.

“As a not-for-profit health fund, we exist only for our members. As Australians face ongoing challenges to their health and wellbeing, we are keeping our promise of not profiting from the pandemic,” Ms Jack said.

“We also need to remember a vast amount of suspended surgery will continue to be conducted in the future when service providers get back to normal. We need to ensure we have sufficient provisions to cover those costs when they occur.”

As Australia’s leading not-for-profit and most trusted health fund*, the decision aligns with HCF’s commitment to put the health of members first and is part of the $150 million in total financial support provided to date.  

Support has included providing premium relief to more than 71,000 members experiencing severe hardship, ensuring they could maintain their health cover throughout the pandemic.

HCF’s COVID-19 related support to members has also included a range of initiatives to support the health and wellbeing of members and the community, including:

  • A six month deferral of last year’s premium increase and financial relief for more than 71,000 experiencing severe hardship
  • Covering COVID-19 related hospital admissions at no extra cost to members
  • Faster, easier access to mental health support through HCF’s leading mental wellbeing program
  • Expanded range of telehealth services  
  • More treatment-at-home options
  • Provision of a nurse helpline
  • Emergency dental/eyecare treatment

Over the past financial year, HCF paid $2.8 billion in benefits for members, covering more than 633,000 hospital admissions and 10 million extras visits for popular services such as physio, dental and chiro.


Media enquiries to:

Rebecca Page, 
0439 130 400



HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers over 1.7 million members with health and life insurance, and 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. To learn more about HCF go to hcf.com.au/about-us

*Roy Morgan Net Trust Survey, 2018, 2019 and 2020.