Private health insurance (PHI) provider HBF has joined Members Health Fund Alliance (Members Health), the peak industry body for an alliance of 26 health funds in Australia that are not-for-profit or part of a member-owned group, regional or community-based.
The peak industry body's members share the common ethic of putting their members' health before profit, with funds representing the interests of more than 5 million Australians.
Members Health CEO Matthew Koce said HBF is a natural fit for the alliance of health funds because it is a respected insurer that “puts the best interests of its members first.”
“Australians want health insurance that suits their needs and reflects their values. An increasing number of health consumers are joining member-driven health funds, knowing that their health is not-for-profit when they do,” Koce said.
With HBF on board, Members Heath now provides an average of 86.9% of premiums back to policyholders in health benefits. Having an additional “ally” also strengthened the peak body industry's efforts to advocate for improvements in the Australian health system.
“With HBF on board, our Alliance is now stronger than ever before. We are now the voice for over 5 million customers in member-owned and not-for-profit health funds. Our funds make up 35.7% of the health insurance market,” Koce said. “Representing an even greater number of policholders amplifies our voice. It strengthens our efforts to advocate for improvements to our health system for Australians.”
HBF CEO John Van Der Wielen commented that HBF, which has been expanding across Australia via acquisitions and investments, joined Members Health to support its significant efforts in advancing customers' interests first.
