When it comes to private health insurance, not all funds are the same. Some are run to make a profit for shareholders or overseas owners. Others, like Members Health fFunds, are run to benefit their members, not shareholders.
These funds are either not-for-profit or part of a member-owned group, and they exist to put people first.
What does not-for-profit or part of a member- owned group mean?
Not-for-profit health funds in Australia don’t exist to make money for investors. Any money left over after paying claims and running costs is reinvested back into the health fund to help improve services, lower premiums, or increase member benefits.
It’s a model that focuses on long-term value and fairness, rather than short-term profits.
Member-owned funds
Some Members Health Funds are wholly owned by member owned organisations. This means they’re for-profit entities, run to cater to the needs of that membership while also making money. Funds like Australian Unity and Doctors’ Health Fund fall into this category. However, joining a fund as a member does not necessarily mean becoming a member owner. For more information, see specific funds’ websites.
Many member-owned funds have deep roots in specific communities or industries that determine their operational ethos, often with a practical, people-first approach that puts trust and fairness at the centre.
Why it matters
For many Australians, the idea of a health fund run to benefit members just makes sense. Members Health fFunds tend to return more of the premium dollar back to members in the form of benefits. They also consistently rate highly in member satisfaction, trust, and service.
Choosing a not-for-profit or member-owned fund means your money goes further, and your health comes first.
(Link to: Members Health Funds explained)
(Link to: Navigating health insurance premium increases)