Get the lowdown on Members Own Health Funds

Members Own funds work as a not-for profit. There's over 15 options in Australia.

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By

Gary Ross Hunter

Updated

Fact checked

Members Own refers to a group of not-for-profit health funds, including both open health funds and some restricted health funds, dedicated to reinvesting profits back in its membership. What this means is that Members Own branded organisations pay a larger proportion of premiums back to members in the form of benefits and claims paid.

What's the difference between for-profit funds and not-for-profit funds?

  • For-profit funds. While all health funds are obligated to remain financially viable so they can honour claims made by customers, this fund type also needs to deliver profits to the business owners, which may include another health fund or overseas corporation.
  • Not-for-profit funds. Like the name suggests, these funds transfer a larger share of the profits to members and are also required to maintain transparency so everyone can see where the money goes. This fund type is typically able to offer lower premiums or additional benefits to members as a result.

How well do Members Own health funds perform?

According to data from the Private Health Insurance Ombudsman, the Australian Prudential Regulation Authority (APRA) and the Private Health Insurance Administration Council (PHIAC), on average Members Own health funds give more back to their members than the major commercial health funds in relation to premiums paid. However, the benefits of Members Own health funds might be even better evidenced by the lower rate of complaints and a higher retention rate, suggesting that they might do a better job of satisfying customers with both price and service.

Members own funds vs commercial funds

Which health funds are Members Own or not-for-profit?

There are 19 participating Members Own health funds in Australia. Many are restricted to certain occupations or groups, and their families, while others are open to all Australians. In addition, there are also nine not-for-profit health funds that exist outside of the Members Own network. You can learn more about all of them by making a selection below:

Fund
Restricted or open?
Learn more
ACA Health Benefits Fund
Restricted
Australian Unity
Open
Defence Health
Restricted
Emergency Services Health
Restricted
Frank Health Insurance
Open
GMHBA
Open
Health Partners
Open
Hunter Health Insurance
Open
Latrobe Health Services
Open
Navy Health
Restricted
Nurses & Midwives Health
Restricted
Peoplecare
Open
Phoenix Health
Open
Police Health
Restricted
rt health fund
Restricted
Teachers Health Fund
Restricted
Transport Health
Open
TUH
Restricted
UniHealth
Restricted
FundRestricted or openLearn more
CBHS Health Fund
Restricted
Hunter Health Insurance
Open
HCF
Open
Health Care Insurance (HCI)
Open
Health Insurance Fund of Australia (HIF)
Open
Health Partners
Open
Reserve Bank Health Society
Restricted
Westfund Limited
Open

Are not-for-profit health funds better?

The ideal health fund is one that can deliver the right benefits and the right value. Because all health funds are different it can be worth comparing all the options, both commercial and not, and nonprofits within and without the Members Own network. Commercial health funds, for example, will often be larger than the non-profits, and able to deliver a scale that non-profits might not. For example, a frequent traveller might benefit from the larger private hospital networks maintained by commercial health funds.

Finder survey: Do people trust private health insurance funds?

Response
Male
Female
Yes54.58%53.26%
No45.42%46.74%
Source: Finder survey by Pure Profile of 1006 Australians, December 2023
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Journalist

Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise
Gary Ross has written 613 Finder guides across topics including:
  • Health, home, life, car, pet and travel insurance
  • Managing the cost of living
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