Members Health funds continue to enjoy extremely high levels of satisfaction amongst their members according to recently competed independent research.
“The independent research conducted by Discovery Research collected more than 21,000 responses from customers of participating Members Health funds and found average satisfaction coming in at 96%, an outstanding achievement,” said Managing Partner of Discovery Research, Mr David Williams.
Members Health CEO Matthew Koce described this year’s results as a fantastic achievement which is line with the consumer centric focus of the funds.
“A 96% satisfaction rate is very impressive and once again demonstrates the enormous commitment that the Members Health funds have towards serving the needs and expectations of their policy holders.”
“While the for-profit funds are required to generate a financial return for shareholders, Members Health funds do not. Therefore the Members Health funds are able to return around 90 cents in every premium dollar back to members in benefits. In contrast, the industry average for health insurers is around 85 cents in the dollar and for General insurers it is just 65 cents.”
“With the debate about affordability and value for money in private health insurance an ongoing point of discussion, the fact that there are a diverse range of funds operating solely in the interests of consumers is of growing significance.
“Consumers are becoming increasingly aware of the superior value and service offered by the smaller not-for-profit, member owned and community based health insurers and are voting with their feet. As a group the Members Health funds are now averaging policyholder growth of around four times that of the rest of the industry.”
“With more than 21,000 customers surveyed the results paint a comprehensive and accurate picture of the strong value and performance of participating Members Health funds.”
“All Members Health funds share one or more of the following traits, being not-for-profit, member owned and community based. They exist only to serve the needs of consumers, not to deliver a financial dividend to shareholders or overseas investors. Members Health funds are entirely consumer centric and therefore have enormous integrity,” Matthew Koce said.
Consumers need to be aware that not all health funds are the same. Whether it be quality of health cover, communication to members, fast payment of claims, value for money or price competitiveness, the independent research once again proves that Members Health funds are performing at extremely high standards.
Members Health is the peak industry body for 23 health insurers which are not-for-profit, member-owned and community based. In all, the Members Health funds provide private health insurance to over 1.7 million Australians.
Media release with attachments is available here:
Director of Policy, Industry and Government Relations
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