Health insurance companies: Your options in Australia

AAMI Health Insurance

A long-trusted Australian brand, AAMI offers health insurance through nib, itself a leading health insurance company.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

ACA Health

ACA Health Benefits Fund is a not-for-profit health fund for employees of the Seventh-Day Adventist Church and their families.

Member retention: 91.4%
Market share: 0.1%
No-gap services: 92.8%
Benefits as % of contributions: 75.6%
Underwriter:

ahm

ahm is a part of Medibank Private Ltd and trades as ahm Health Insurance.

Member retention: 86.9%
Market share: 27.1%
No-gap services: 83.8%
Benefits as % of contributions: 83.4%
Underwriter: Medibank

AIA Health Insurance

AIA Australia, the local wing of the Asian insurance giant, offeres health insurance to Aussies with a focus on supporting members stay healthy and well. AIA Vitality is one of the best benefits and rewards programs for Aussies that stay fit and active.

Member retention: 76.1%
Market share: 0.4%
No-gap services: 84.3%
Benefits as % of contributions: 83.2%
Underwriter:

Apia

Apia specialises in providing health insurance cover for over 50s and seniors. Underwritten by Suncorp

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Astute Simplicity Health

Astute Simplicity Health is an arm of Astute Financial, which provides general financial services. While Astute Financial is a privately owned, for-profit company, Astute Simplicity Health Insurance is underwritten by St Lukes, a Tasmanian not-for-profit health fund.

Member retention: 89.4%
Market share: 0.6%
No-gap services: 88.9%
Benefits as % of contributions: 83.6%
Underwriter: St. Lukes

Australian Unity

Australian Unity is a health care, financial services and retirement living organisation that provides services to over half a million Australians.

Member retention: 79.0%
Market share: 2.2%
No-gap services: 91.4%
Benefits as % of contributions: 70.0%
Underwriter:

Bupa

Formerly known as HBA, MBF and Mutual Community, Bupa has been around for more than 60 years.

Member retention: 87.7%
Market share: 24.9%
No-gap services: 91.1%
Benefits as % of contributions: 80.9%
Underwriter:

CBHS

CBHS Health Fund is a restricted not-for-profit fund for current and former employees of the Commonwealth Bank of Australia Group and their eligible families.

Member retention: 92.4%
Market share: 1.5%
No-gap services: 85.3%
Benefits as % of contributions: 84.2%
Underwriter:

CBHS Corporate

Member retention: 71.1%
Market share: No-gap services: 82.1%
Benefits as % of contributions: 84.0%
Underwriter: 0>

Defence Health

Defence Health offers its suite of private health cover options to more than 235,000 members with connections to the Australian Defence Force.

Member retention: 91.0%
Market share: 2.0%
No-gap services: 89.7%
Benefits as % of contributions: 76.4%
Underwriter:

Doctors Health Fund

Doctors Health Fund provides a range of private health care solutions for health professionals and their families.

Member retention: 90.2%
Market share: 0.5%
No-gap services: 93.0%
Benefits as % of contributions: 80.4%
Underwriter:

Emergency Services Health

Emergency Services Health is a not-for-profit health fund for Australia's emergency services community.

Member retention: 91.2%
Market share: 0.5%
No-gap services: 87.3%
Benefits as % of contributions: 86.9%
Underwriter: Police Health

Frank Health Insurance

Frank Private Health Insurance Australia is a not-for-profit health fund that is part of GMHBA (Geelong Medical and Hospital Benefits Association)

Member retention: 78.9%
Market share: 2.2%
No-gap services: 86.7%
Benefits as % of contributions: 78.9%
Underwriter: GMHBA

GMHBA

Geelong Medical and Hospital Benefits Association (GMHBA) is a regionally-based not-for-profit member-based health fund.

Member retention: 78.9%
Market share: 2.2%
No-gap services: 86.7%
Benefits as % of contributions: 78.9%
Underwriter:

GU Health

GU Health, also known as Grand United Corporate Health, is a specialist corporate health fund that services more than 300 companies. It's owned and operated by nib.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

HBF

HBF is a not-for-profit health fund and one of the five largest health funds in Australia. Based in Western Australia, it's been looking after the cover needs of its members for more than 70 years.

Member retention: 89.9%
Market share: 7.7%
No-gap services: 92.5%
Benefits as % of contributions: 87.9%
Underwriter:

HCF

The Hospitals Contribution Fund of Australia Limited (HCF) is one of the Big Four health funds and is the largest not-for-profit health fund in Australia.

Member retention: 88.2%
Market share: 12.5%
No-gap services: 86.7%
Benefits as % of contributions: 87.7%
Underwriter:

Health Partners

Health Partners is a Members Own Health Fund.

Member retention: 90.2%
Market share: 0.7%
No-gap services: 91.0%
Benefits as % of contributions: 81.9%
Underwriter:

HealthCare Insurance

Founded in 1938, Health Care Insurance (HCI) aims to offer quality cover and value for money to its members.

Member retention: 88.2%
Market share: 0.1%
No-gap services: 91.5%
Benefits as % of contributions: 74.7%
Underwriter:

HIF

Health Insurance Fund of Australia (HIF), a not-for-profit member-based health fund.

Member retention: 75.9%
Market share: 0.7%
No-gap services: 89.6%
Benefits as % of contributions: 78.8%
Underwriter:

Hunter Health Insurance

Hunter Health Insurance is the new name of Cessnock District Health Fund, which has been offering cost-effective private health cover for its members for more than 60 years. Hunter now offer coverage nationwide.

Member retention: 88.4%
Market share: No-gap services: 83.5%
Benefits as % of contributions: 70.9%
Underwriter: 0>

ING Health Insurance

ING has a huge range of savings accounts and financial products. It now offers health insurance, thanks to its partnership with nib health insurance.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Latrobe

Established in 1951, Latrobe is a member-focused health fund, providing cover to more than 78,000 Australians.

Member retention: 77.8%
Market share: 0.7%
No-gap services: 75.3%
Benefits as % of contributions: 79.0%
Underwriter:

Medibank

Medibank's core business is the underwriting of private health insurance policies through Medibank and ahm. Headquartered in Melbourne, they have operations throughout Australia.

Member retention: 86.9%
Market share: 27.1%
No-gap services: 83.8%
Benefits as % of contributions: 83.4%
Underwriter:

Mildura Health Fund

Mildura Health Fund, also known as Mildura District Hospital Fund, has been offering health cover to its members since 1929. It has agreements in place with hundreds of hospitals around the country.

Member retention: 91.5%
Market share: 0.3%
No-gap services: 81.2%
Benefits as % of contributions: 82.4%
Underwriter:

Navy Health

Offering competitive policies to suit the cover needs of Australian Defence Force members and their families, Navy Health is a not-for-profit fund and was founded in 1955.

Member retention: 89.4%
Market share: 0.4%
No-gap services: 90.0%
Benefits as % of contributions: 83.4%
Underwriter:

nib

nib is one of Australia's fastest growing health funds and began life as Newcastle Industrial Benefits (nib) Hospital Fund and Medical Fund, established by workers at BHP Steelworks in Mayfield.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter:

Nurses & Midwives

Nurses & Midwives Health is exclusively for the needs of the Australian nursing and midwifery community.

Member retention: 96.8%
Market share: 2.6%
No-gap services: 90.3%
Benefits as % of contributions: 86.0%
Underwriter: Teacher's Health

onemedifund

With a focus on providing private health insurance that is straightforward and easy to understand, onemedifund offers a wide range of hospital cover, extras cover and combined cover packages.

Member retention: 93.8%
Market share: 0.1%
No-gap services: 89.6%
Benefits as % of contributions: 73.7%
Underwriter:

Peoplecare

A not-for-profit health fund with a focus on providing value-for-money cover, Peoplecare was named the number-one open health fund in Australia by Australian Financial Review's Smart Investor magazine in 2014.

Member retention: 85.9%
Market share: 0.5%
No-gap services: 90.9%
Benefits as % of contributions: 83.3%
Underwriter:

Phoenix Health Fund

Founded in 1953 to meet the health cover needs of Stewarts and Lloyds employees, Phoenix Health Fund now offers competitive private health insurance to anyone in Australia who wants to join.

Member retention: 85.0%
Market share: 0.2%
No-gap services: 91.4%
Benefits as % of contributions: 77.7%
Underwriter:

Police Health

Run by police for police, Police Health is a not-for-profit fund that offers value-for-money cover.

Member retention: 91.2%
Market share: 0.5%
No-gap services: 87.3%
Benefits as % of contributions: 86.9%
Underwriter:

Priceline Health Insurance

Priceline offers health insurance through nib - if you're a member of the Priceline sister club, health cover will let you earn extra rewards when you shop.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Qantas Insurance

Qantas Insurance is issued by NIB and made available by Qantas.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Queensland Country Health Fund

Based in regional Queensland, Queensland Country Health Fund aims to offer top-quality cover to Queenslanders. It has more than 35,000 members.

Member retention: 87.6%
Market share: 0.4%
No-gap services: 89.3%
Benefits as % of contributions: 79.8%
Underwriter:

Real Health Insurance

Real Insurance is the retail arm of Hollard, which is one of the biggest underwriters of Aussie insurance brands. Despite offering mostly Hollard insurance products, Real Insurance offers health insurance underwritten by nib.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Reserve Bank Health Society

Reserve Bank Health Society is a restricted health fund for current and former employees of the Reserve Bank of Australia or Note Printing Australia and their families.

Member retention: 91.3%
Market share: No-gap services: 90.3%
Benefits as % of contributions: 74.9%
Underwriter: 0>

RT Health

With a history dating back more than 126 years, RT Health Fund is a not-for-profit fund that offers a large variety of hospital and extras cover options for its members.

Member retention:
Market share:
No-gap services: 85.2%
Benefits as % of contributions: 79.5%
Underwriter:

See-U

see-u is part of popular non profit insurer HBF. Previous known as CUA, see-u offers a simple, no nonsense set of products aimed at younger Aussies.

Member retention: 89.9%
Market share: 7.7%
No-gap services: 92.5%
Benefits as % of contributions: 87.9%
Underwriter: hbf

Seniors Health Insurance

Aimed primarily at older Australians, Seniors Health Insurance is offer via nib, one of the largest health insurers in the country.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

St. Lukes Health

St.LukesHealth was founded in Tasmania in 1952. It offers affordable hospital and extras cover to members in every Australian state and territory.

Member retention: 89.4%
Market share: 0.6%
No-gap services: 88.9%
Benefits as % of contributions: 83.6%
Underwriter:

Suncorp Health Insurance

True to its name, Suncorp is based out of the sunny city of Brisbane - it offers health insurance via nib.

Member retention: 82.7%
Market share: 9.6%
No-gap services: 91.7%
Benefits as % of contributions: 79.0%
Underwriter: nib

Teachers Health Fund

Teachers Health Fund is a restricted access, not-for-profit health fund for those in the education community and their families.

Member retention: 96.8%
Market share: 2.6%
No-gap services: 90.3%
Benefits as % of contributions: 86.0%
Underwriter:

TUH

Established in 1972 by the Queensland Teachers' Union, TUH offers quality health cover to members of the union and their families. It provides private health insurance cover for more than 70,000 Australians.

Member retention: 90.6%
Market share: 0.6%
No-gap services: 91.8%
Benefits as % of contributions: 82.6%
Underwriter:

UniHealth

UniHealth is created exclusively for the higher education community and their families.

Member retention: 96.8%
Market share: 2.6%
No-gap services: 90.3%
Benefits as % of contributions: 86.0%
Underwriter: Teacher's Health

Union Health

Offering cover to union members and their families, Union Health is a relaitvely new not-fot-profit fund. It's a restricted fund, but anyone in a union can join. If you haven't joined your union, maybe you should?

Member retention: 90.6%
Market share: 0.6%
No-gap services: 91.8%
Benefits as % of contributions: 82.6%
Underwriter: TUH

Westfund Health

Westfund is a member-owned health fund that was established in 1929. It aims to offer top-quality health cover to a wide variety of Australians.

Member retention: 87.1%
Market share: 0.9%
No-gap services: 90.3%
Benefits as % of contributions: 83.3%
Underwriter: