Health insurance

Mutual health insurers…

  • Are completely focussed on the customers rather than the needs of investors
  • Offer lower premium healthcare which creates competition in the market
  • Offer better quality products

Are completely focussed on the customers rather than the needs of investors

Put simply, it means the profit they make goes back into the fund instead of being divided among shareholders.

Offer lower premium healthcare which creates competition in the market

On average, mutual health insurers paid out more cents in every dollar in premiums to members as benefits, than the industry average.

Offer better quality products

Customer-owned enterprises like mutual health insurers can drive price and quality competition for the benefit of consumers, whether they are members or non-members.

Health insurance examples

Australian Unity Logo

Australian Unity

National healthcare, financial services and independent and assisted living organisation for over 175 years. Australian Unity has over 7,000 employees providing services to nearly a million Australians.
Established Year: 1840
Type: Mutual
HCF logo

HCF

HCF is an award-winning health insurance fund with more than 1.6 million members nationwide. It uses its profits for the benefit of its members, delivering the lowest premium increases of the major funds. HCF is Australia’s largest not-for-profit health insurer.
Established Year: 1932
Type: Mutual
HIF Logo

HIF

HIF began in 1954 as the Western Australian Government Railways Employees Hospital and Medical Benefits Fund, changing its name in 2010 to reflect its increasingly nationwide membership. Multi-award winning, not-for-profit health fund championing an ethical, member-focused approach to health insurance.
Established Year: 1954
Type: Mutual
Latrobe Health Services

Latrobe Health Services

Australian-owned not-for-profit registered private health insurer with more than 81,000 members across Australia.
Established Year: 1950
Westfund Health Insurance Logo

Westfund Health Insurance

Westfund Health Insurance is a regional, not-for-profit health fund with locations across NSW and Queensland. Its profits are directed at member benefit.
Established Year: 1953
Type: Mutual