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About HBF

Health insurance premium increases announced

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HBF again the lowest of the major funds

HBF members will again have the lowest average increase of any of the major health funds when premiums rise from 1 April 2014. 

The Federal Health Minister today announced that he had approved an average increase of 
6.2% for health funds but HBF’s average increase is just 3.72% - well below the other major players in Western Australia, Medibank (6.49%) and BUPA (6.35%) and well below Australia’s other two major funds NIB (7.99%) and HCF (6.89%). 

HBF Managing Director Rob Bransby said the fund had been determined to keep premium increases to a minimum despite hospital benefits paid to HBF members rising by an average of 7.4% per member in 2013/14 and benefits for general treatments rising by 6.5% per member in the same period. 

This year’s low increase follows last year’s premium announcement when HBF was again the lowest of any of the major funds and well below the industry average. 

Mr Bransby said that as a not-for-profit fund that had no obligations to shareholders or off-shore parent companies HBF was free to prioritise the interests of its 900,000 members. 

“This is another validation of our decision to remain a not-for-profit fund that puts members first,” Mr Bransby said. 

HBF’s low premium increase comes despite changes to reduce members’ out of pocket expenses during the year, such as the removal of co-payments for many members staying in hospital. 

HBF has also invested significantly in wellness programs to help HBF members live well, such as free HBF Outdoor Fitness sessions that now run in 18 locations around the state.

-ENDS-
Contact for further information or to arrange an interview with an HBF spokesperson:
Andrew Walton: 0438 925 050  / andrew.walton@hbf.com.au

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