HBF will soon welcome CUA Health

Later this year, CUA Health will be owned by not-for-profit HBF. We’re both like-minded organisations with a long history of delivering for members in the moments that matter.
 

CUA and HBF, putting members first

HBF are closely aligned with CUA Health. We’re both purpose-driven, member focused organisations with a long history of delivering for people in the moments that matter.

There will be no changes to the way you use your health cover or interact with CUA Health at this stage. HBF looks forward to working with CUA Health and welcoming their members. If there are any changes in the future, HBF will reach out to you directly.

 

Some reasons CUA Health have chosen HBF to partner with

HBF have been in the health business since 1941

HBF have been in business since 1941. That’s over 80 years’ experience supporting members health and wellbeing.

HBF is giving money back to members

HBF are the only major fund to announce that they will be returning money to members who couldn’t use their health cover due to COVID-19 restrictions in 2020.

HBF have had the lowest premium increases

HBF had the lowest premium increases of all the major funds for two years running.

What happens next?

We understand that you might have questions about what will happen to your health cover as we transition from one organisation to another. We have prepared some frequently asked questions below that might help answer any queries you have.

If you have any questions, you can continue to contact us the same way you usually do, by emailing our CUA health specialists or calling us between 8:00 am and 5:00 pm (AEST).

FAQs

Why is CUA selling CUA Health?

This decision will allow CUA to focus on our core banking business and purpose of helping all Australians own their own homes. CUA and HBF are more closely aligned than many people realise. We’re both purpose-driven organisations with a long history of delivering for members in the moments that matter.

How will this change in ownership impact me? Why is this a positive change for members?

Our sale to HBF is great news for members, HBF have a track record of keeping premium increases low and are committed to putting their members first. In the short term, there will be no changes to your cover or the way you currently interact with CUA Health. As HBF build on their growth strategy to become a truly national organisation we’ll be putting our members’ interests first, and believe that for most of you, any changes that arise from this process will be positive.

Will the health insurance be branded CUA Health or HBF?

CUA Health will move to come under the name HBF in the near future. At this time, it will remain as CUA Health. Further communication will be provided closer to name change.

Will any of my benefits be changing?

Your coverage will remain the same. We will communicate with you regularly and make sure you’re kept up to date on any changes in the future. Our sale to HBF is great news for members, as we work to maintain the benefits you receive as part of your cover.

Will my product coverage change?

At this stage, there are no changes to your policy, and you can continue to use your health cover the same way as you always have. If there are changes in the future, you will be communicated to with appropriate notice including how the changes might impact you.

Will my premium change?

Your premiums will remain the same at this stage. HBF will communicate with you regularly and make sure you’re kept up to date on any key changes in the future. Our sale to HBF is great news for members, as it brings the benefits of being with a not-for-profit fund that has scale, helping to keep downward pressure on premiums and maintaining the benefits you receive as part of your cover.

How do I make a claim against my CUA Health policy after the transition?

You can continue to claim as normal. There will be no changes at this stage to the way you use your health cover or interact with CUA Health. If there are any changes, HBF will communicate with you directly and make sure you’re kept up to date on what you need to do.

How do I make changes to an existing policy?

There will be no changes to the way you interact with CUA Health. You can continue to call, email, or use CUA Health’s online member services to make a change to your policy. HBF will communicate with you regularly and make sure you’re kept up to date on any changes in the future.

Can people still purchase a CUA Health Policy?

Yes, you can. HBF will communicate with you regularly regarding the timing of the change of brand from CUA Health to HBF.

Can I still switch products within CUA Health?

Yes, you can continue to make changes to your health cover, including switching products. HBF will communicate any changes to you directly and make sure you’re kept up to date with any key changes to your policy.

Can I still use the mobile app and digital services?

Yes, you can continue to access or contact CUA Health the way you normally do. HBF will communicate any changes to you directly and make sure you’re kept up to date with any key changes.

Will my card still work to claim?

Yes, you can continue to claim the way you normally do. If there are any changes to the way you will claim in the future, HBF will communicate any changes to you directly.

What's happening with CUA? They are changing their name AND switching health insurance?

CUA’s purpose driven strategy is to help Australians own their own homes and we believe that our health members will be better served by a focussed health insurer. As we move away from health insurance the decision to change our name wasn’t taken lightly. After extensive market research we learned that many Australians don’t know what a credit union is. To grow and best service our customers, we needed to rebrand to a bank. On 1 June 2021 we will change our name to Great Southern Bank.

I currently bank with CUA and receive a 4% discount off my health cover. Will this be honoured?

Your premiums will remain the same for the moment. We will communicate with you regularly and make sure you’re kept up to date on any changes in the future. There are a lot of synergies between the two organisations, with HBF offering a 4% discount if members pay via direct debit. This gives us confidence that the acquisition of CUA Health by HBF is positive for members, as it brings downward pressure on premiums and helps to maintain the benefits you receive as part of your cover.

What happens if I have any problems with my existing policy after the sale?

If you have any issues you can continue to call or email CUA Health and someone will be able to help you. HBF will communicate with you regularly and make sure you’re kept up to date on any changes in the future.

What if I don’t want my personal information shared between CUA Health and HBF?

HBF have purchased CUA Health. As an Australian operated organisation, HBF are required to adhere to strict privacy laws. You can rest assured that your personal information will continue to be handled in accordance with the Privacy Act, ensuring a high standard of privacy, security and respect is maintained. HBF may send out a new privacy collection statement in the future. In the meantime, you can view their privacy policy here: Privacy Policy | HBF Insurance

Will I be entitled to or have access to any new / different products or services as a result of the acquisition?

While there is no obligation to change your cover, anyone can purchase a HBF product. If you would like to see which product might suit your needs, you can visit the Product Recommendation Tool on the HBF website.

Once you’re an HBF member, you will be able to access all the additional benefits of HBF membership.

Will there be any people changes that might affect me?

While there will be changes to the way that CUA Health team members work in time, the primary aim is to ensure minimal disruption to members. You can continue to contact CUA Health and claim as normal. Any changes to how you manage your policy or contact us will be communicated to you by HBF.