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Insurer

Reserve Bank Health Society (RBHS)

Reviewed and updated 16 March 2024

About the Reserve Bank Health Society

What is the Reserve Bank Health Society?

The Reserve Bank Health Society (RBHS) is a private health insurer that operates as a restricted health fund.

Background

Established in 1959, the Reserve Bank Health Society provides health insurance for current and former employees of the Reserve Bank of Australia and Note Printing Australia. Peoplecare, another not-for-profit insurer, manages the fund.

The Reserve Bank Health Society has just over 2,500 members.

Who can join the Reserve Bank Health Society?

You can join the Reserve Bank Health Society if you are a:

  • current or former employee of the Reserve Bank of Australia or Note Printing Australia
  • current or former spouse of a current or former employee of the Reserve Bank of Australia or Note Printing Australia
  • child of a current or former employee of the Reserve Bank of Australia or Note Printing Australia.

What products does Reserve Bank Health Society offer?

Reserve Bank Health Society offers:

Do Reserve Bank Health Society policies include Ambulance Cover?

Every member of the Reserve Bank Health Society has 100% Ambulance Cover, which includes:

  • emergency ambulance transport
  • non-emergency road and air ambulance transport
  • emergency ambulance treatment without transport
  • emergency ambulance transport between hospitals.

Is the Reserve Bank Health Society a not-for-profit health insurer?

Yes. The Reserve Bank Health Society is a not-for-profit health insurer.


Does the Reserve Bank Health Society operate in all Australian states and territories?

Yes. Reserve Bank Health Society operates in all Australian states and territories.


How does Reserve Bank Health Society Hospital Cover compare with other insurers?

BenchmarksRBHSIndustry average
Member retention for Hospital Cover91.4%88.6%
% hospital-related charges covered93.0%90.6%

Source: Private Health Insurance Ombudsman: State of the Health Funds Report: 2022


Does the Reserve Bank Health Society have agreements with some private hospitals or day hospitals to provide services at low cost or with no out-of-pocket costs?

Yes. The Reserve Bank Health Society has agreements with a number of private hospitals that allow it to provide services to its members at low cost or with no out-of-pocket costs:

LocationNumber of private Agreement HospitalsIndustry maximum
ACT56
NSW9798
NT22
QLD5160
SA2023
TAS59
VIC7476
WA2224

The Reserve Bank Health Society also has agreements with a number of day hospitals so it can provide services at low cost or with no out-of-pocket costs:

LocationNumber of day Agreement HospitalsIndustry maximum
ACT89
NSW87103
NT12
QLD4857
SA2530
TAS68
VIC6779
WA1924

Source: RBHS: performance


How does Reserve Bank Health Society Extras Cover compare with other insurers?

BenchmarkRBHSIndustry average
% Extras Cover charges covered71.2%52.0%

Source: Private Health Insurance Ombudsman: State of the Health Funds Report: 2022


How does Reserve Bank Health Society compare with other private health insurers?

BenchmarksRBHSIndustry average
Market share<0.1%
% services with no gap91.6%88.8%
% services with no gap or where known gap payment made97.3%97.4%
Market share of complaints to the PHIO0.0%
% complaints investigated by the PHIO0.0%
Benefits as a % of contributions76.3%83.1%
Management expenses as a % of contribution income13.8%9.9%
Management expenses per average policy$1,031$375

Source: Private Health Insurance Ombudsman: State of the Health Funds Report: 2022


Is the Reserve Bank Health Society a member of any industry organisations?

The Reserve Bank Health Society is a member of the Members Health Fund Alliance, an alliance of not-for-profit, member-owned, regional or community-based health insurers.


Does Reserve Bank Health Society let me claim online or via an app?

Yes. Reserve Bank Health Society allows you to make a claim online using the RBHS app.


How to contact Reserve Bank Health Society

Phone:

1800 027 299

Website:

www.myrbhs.com.au

Email:

info@myrbhs.com.au

Address:

2-12 Young Street
WOLLONGONG NSW 2500

Postal address:

Locked Bag 23
WOLLONGONG NSW 2500


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