What does HCF insurance stand for?
The Hospitals Contribution Fund of Australia
HCF (The Hospitals Contribution Fund of Australia) was formed in 1932 to provide health insurance cover to Australians. Since then, it has grown to become one of the country’s largest combined registered private health fund and life insurance organisations.
Is HCF a good fund?
As Australia’s largest not-for-profit health insurer, our members get more benefits^ back for every dollar paid in premiums than the industry average and the peace of mind that HCF is Australia’s most-trusted^ health fund.
Why is HCF not-for-profit?
what not-for-profit means. Put simply, it means the profit we make goes back into the fund instead of being divided among shareholders. On average, over the last 5 years we’ve paid out more cents in every dollar in premiums to members as benefits, than the industry average.
Is HCF the same as BUPA?
Which big health funds are nonprofit? HBF and HCF are the only large health funds that are nonprofit. Bupa is for-profit but it’s part of the international Bupa Group that is nonprofit.
Is HCF cheaper than Bupa?
HCF was once again the cheapest of the big four funds, with a maximum hospital only policy cost of $601.15. This was roughly $4.00 less than Bupa, $95.00 less than Medibank and almost $100.00 cheaper than nib.
Who is HCF owned by?
Manchester Unity Australia Limited
In June 2007 HCF celebrated its 75-year anniversary. On 28 August 2008, the Board of Manchester Unity Australia Limited announced it had signed a Merger Implementation Deed (MID) in relation to a proposal for a $256 million merger with HCF. Manchester Unity members agreed to HCF merger on 15 December 2008.
How much is HCF worth?
|Revenue||A$2.429 billion (2016)|
|Operating income||A$312.580 million (2016)|
|Net income||A$174.314 million (2016)|
|Number of employees||1,032 (2016)|
Why is HCF good?
HCF has a wide selection of comprehensive hospital policies that are competitively priced. It also offers several extras policies that are good value for particular treatments. It did receive more than its fair share of complaints in 2020, but it also had the highest member retention that year.