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About HBF

2014 HBF Annual Results

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A range of product enhancements and an expanded range of wellness services were amongst the highlights in HBF’s 2013/14 annual report released today.

HBF maintained its position as Western Australia’s leading health insurer, providing record benefits and achieving industry leading rates of member retention and member satisfaction.

Announcing HBF’s 2012/13 annual results, Managing Director, Rob Bransby said $1,242.6 million had been provided in health benefits to members of HBF and its subsidiary health fund GMF – an increase of 8.8% over the previous year. Member contributions for the year totalled $1,437.5 million.
 
Mr Bransby said HBF’s record benefits had been achieved despite the fund having the lowest premium increase of any major health fund for the second consecutive year.

It also came during a year when HBF made significant enhancements to its health insurance product range. A new Mid Hospital product provided new options for families and ‘empty nesters’ and a new general services product, Easy 8, received a Canstar award for innovation excellence.

The offer of no gap general dental treatment for children at HBF Member Plus dentists prompted an increase in families utilising their HBF dental cover resulting in a 14% increase in dental benefits paid to members.

The quality of HBF’s health insurance products was underscored in September when Canstar named HBF as the fund offering ‘Outstanding Value’ in both ‘Extras Cover’ and ‘Hospitals and Extras Packages’ in Western Australia.

HBF’s program of wellness services expanded during the year with a doubling in the number of venues providing HBF Fitness training, including in the newly sponsored venues HBF Stadium and HBF Arena. There was also an expansion in the services provided to HBF members through Friendlies Pharmacies with members now able to access flu vaccinations, hearing checks and health checks free or at discounted rates.
 
Rob Bransby said that HBF would continue to use its dominant local presence and partnerships with WA health providers and others to provide a complete health partner offering that other insurers would find impossible to match. He said during the coming year HBF would invest in other initiatives that helped members manage their health.  

“After Medibank’s privatisation competition between funds will become fiercer than ever. We’ll be taking every opportunity to communicate the compelling case for choosing a local, not-for-profit insurer whose focus is solely on the health and wellbeing of its members,” Mr Bransby said.

In addition to higher premium receipts, HBF’s investments yielded returns of 82.1 million, contributing to a net surplus of $122.8 million for the HBF Group.  

[ends]


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

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