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About HBF

HBF 2013 annual results

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HBF 2013 Annual Results: Record benefits paid as HBF evolves to become a health partner for members


For the second consecutive year WA’s leading health insurer has paid over one billion dollars inbenefits to its members.

Announcing HBF’s 2012/13 annual results, Managing Director, Rob Bransby said member contributions had totalled $1,280million while $1,142million was paid in benefits to members of HBF and its subsidiary health fund GMF.

Mr Bransby said HBF’s record benefits were achieved despite the fund having had the lowest premium increase of any major health fund in Western Australia. It also came during a year when HBF made significant enhancements to its health insurance product range.

“Single parent pricing means many single parents are now paying less for their cover than they were a year ago. We’ve also eliminated hospital copayments on a range of products and improved our GapSaver ad-on to make it easier for members to cover out of pocket costs.” Mr Bransby said.

“We’ve also broadened the range of complementary products that members can claim for.”

Mr Bransby said HBF had also taken big strides in becoming a valued health partner for members, citing the planned delivery of preventative health services to members through the Friendlies pharmacy franchise that HBF acquired during the year. A major expansion of HBF’s physical activity program means HBF Outdoor Fitness sessions (free for HBF members) now run in 18 locations around the state.

“HBF’s value proposition is being transformed. Even before they make a claim members now have access to additional health related services worth hundreds of dollars and we’ll be expanding this further in the year ahead” Mr Bransby said.

Mr Bransby said HBF would invest further in initiatives that would help members to manage their health, but that premium increases would again be kept to a minimum.

In addition to higher premium receipts, HBF’s investments yielded returns of $92.7million, contributing to a net surplus of $176.6million for the HBF Group.


[ends]

Media contacts: Andrew Walton: 08 9265 6181 / 0438 925 050

HBF Health Funds Inc. Incorporated in Western Australia ARBN 126 884 786 is a Private Health Insurer under the Private Health Insurance Act 2007. The liability of it’s constitutional members is limited.

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