Canstar, Australia's largest comparison site, has unveiled the winners of its 2023 Health Insurance Star Ratings and Awards.
The awards recognise and celebrate the insurance companies that offer outstanding value to consumers nationally or in a particular state.
Canstar identified the best health insurance companies by using a ratings methodology that compares the price and features of private health insurance (PHI) products. It assessed three separate health insurance product types: hospital cover, extras cover, and packages (packaged hospital and extras cover).
The comparison site aggregated each company's top-performing policy per state/territory across all star ratings profiles into the state/territory awards for the three product categories. It then awarded the state/territory awards to the company with the best cumulative performance for each product category.
To calculate the national award, the comparison site weighed each company's state/territory performance across the three product categories to calculate a state territory score and then weighed it based on population data. The national award is awarded to up to three of the top performing health insurance companies across Australia.
Dominating this year's Health Insurance Star Ratings and Awards, HCF earned 11 awards, including the highly coveted national Outstanding Value Award for Health Insurance – Australia for the eighth consecutive year.
“HCF's dominance across this year's award categories underscores our resolve to continue delivering great value and quality cover to support our members while keeping downward pressure on premium costs amid rising living expenses,” said HCF CEO Sheena Jack. “In a competitive market, we remain steadfast in our commitment to minimising out-of-pocket costs while offering members better coordinated care and choice through a wide range of quality, flexible treatment options.
“As Australia's largest not-for-profit health fund, we're the original for-purpose organisation, focused on making a positive impact for our members and the broader community for 91 years. These awards represent our singular focus on delivering value for those we serve through our products, services, and advocacy efforts.”
The other awards HCF secured are:
Josh Sale, group manager, research and ratings, at Canstar, highlighted HCF's commitment to pursuing of quality, comprehensive health cover, stating: “HCF continues to provide outstanding value in hospital, extras, and package cover, earning yet another national award and multiple extras and package state awards.”
Other companies that received an award are:
Canstar also recently recognised the insurers with the “most satisfied” home insurance customers.
