Private Health Insurers

The Members Health Fund Alliance is the industry body for health insurers that are not-for-profit or part of a member-owned group.It differs from industry body Private Healthcare Australia, because it claims its members all share a common objective – putting members’ health and wellbeing before profits.It currently represents 24 private health insurers that provide more...

Private Healthcare Australia is an industry body representing private health insurers.It currently represents 22 private health insurers that cover 98% (14.8 million) of people in Australia who hold private health insurance:  No. Insurer 1. AIA Health Insurance 2. Australian Unity 3. Bupa Health Insurance 4. CBHS Corporate 5. CBHS Health 6. Defence Health 7. GMHBA...

The Private Health Insurance Ombudsman (PHIO) is part of the Office of the Commonwealth Ombudsman.The Commonwealth Ombudsman protects the community when dealing with the Australian government, particularly resolving complaints about the Australian government.The Commonwealth Ombudsman also oversees some private sector organisations, including private health insurers.The Commonwealth Ombudsman protects private health insurance consumers by:

No. In Australia, private health insurers cannot increase their premiums whenever they choose.Instead, they have to apply to the Australian government for permission to increase premiums and must provide supporting evidence explaining why the increase is necessary.Insurers can apply to increase premiums for their private health insurance policies only once a year.The process works like...

The Australian government regulates private health insurers in Australia.The government regulates:Private health insurance laws also cover what your insurer must let you know about your policy:

In Australia, many private health insurers are mutuals.A mutual is a member-owned organisation where people come together to help achieve their shared purposes. Its objective is to help members and/or the community by providing goods or services rather than returning profits to investors.The underlying concept behind a mutual is that a group of people acting together...

About not-for-profit insurers A not-for-profit health insurer uses its revenue to:In Australia, not-for-profit health insurers are mutual organisations rather than corporations.Most not-for-profits claim to be focused on people rather than profits.Most of the restricted insurers are not-for-profit insurers.How many not-for-profit health insurers are there in Australia? In Australia, 22 private health insurers operate on a not-for-profit basis....

About for-profit insurersA for-profit insurer focuses on returning profits to shareholders from premiums paid by members after it has:How many for-profit health insurers are there in Australia? In Australia, there are 8 private health insurers that operate on a for-profit basis. Insurer Status ahm (a subsidiary of Medibank) Open 1. AIA Health Insurance Open 2. Australian...