Independent Canstar rating ranks HBF number one in the West
Outstanding value Essentials Cover
Outstanding value Hospital and Essentials
HBF has bucked the national trend by winning most categories in Canstar’s annual independent review of health insurance in Western Australia.
In all other states, national and multi-national funds shared the majority of awards.
According to Canstar’s Star Ratings for private health insurance in WA, HBF’s Hospital & Extras and Extras cover offer the best value for money of the 14 health funds assessed in the review.
HBF Manager – Product Development, Leroy Pereira, said the insurer’s success in those two categories was significant, because Hospital & Extras and Extras cover were the two most sought after types of health cover, making up 98 per cent of all policies.
“We have the most members of any health fund in WA – and the overwhelming majority of our members have either Hospital & Extras or Extras cover with us,” Mr Pereira said.
Mr Pereira said the insurer’s greatest advantage was its local know-how and experience.
“We have a deep understanding of what Western Australians want from their health cover. An insurer based in Victoria doesn’t necessarily know what a young family in Victoria Park needs, but it’s our business to know what they need and to develop a product that works hard for them,” Mr Pereira said.
“Canstar’s nod of approval is good news for HBF members,” he said.
“We also know that independent ratings are a valuable tool for people considering their health cover options.”
Mr Pereira said there were hundreds of health insurance products out there. He said research had shown 60 per cent of people who made serious enquiries about health insurance didn’t end up buying it because it was complex and confusing.
“Through an extensive comparison process, Canstar has made life much easier by highlighting the best value options for consumers,” Mr Pereira said.
In order to win, Canstar Head of Research, Product and Strategy, Steve Mickenbecker said HBF’s product combinations consistently scored well in price and features.
“The value of health insurance comes down to much more than just the amount you pay each year. It’s about how hard your health insurer works to deliver lower out of pocket costs and the best access to quality healthcare,” Mr Mickenbecker said.
“Customers need to ask themselves, ‘which health cover will work hardest for me?’
“We congratulate HBF for its development of a number of hard-working products.”
Earlier this year HBF’s Easy 8 extras cover was singled out for special praise by Canstar in its 2014 Innovation Excellence Awards. Easy 8 was the only health insurance product, and HBF the only health insurer, to feature in the awards’ financial services category which highlights product innovation in banking and insurance.
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For further information or to arrange an interview with an HBF spokesperson, contact Shae Slater:
(08) 9265 1924 / 0403 240 558 / email@example.com