HBF Health Insurance: Coverage, Types & Comparison Guide
If you have ever tried to make sense of private health insurance in Australia, you already know how easy it is to feel lost. Yet one name keeps turning up in member satisfaction surveys and value rankings: HBF. Founded in 1941 as the Hospital Benefit Fund of Western Australia, this not-for-profit now covers over 1 million members and consistently ranks among the country’s most trusted health insurers. This guide digs into what HBF offers, how its not-for-profit model works for members, and where it stands against bigger for-profit competitors.
Founded: 1941 · Headquarters: Perth, Australia · Members: Over 1 million · Market Position: Australia’s 5th largest private health insurer · Type: Not-for-profit mutual
Quick snapshot
- Hospital Benefit Fund of Western Australia (HBF Official Website)
- Founded 1941 (Healthslips)
- Not-for-profit (Canstar)
- Headquartered in Perth (Compare Club)
- Hospital cover (private & public) (Money.com.au)
- Extras cover (optical, dental, etc.) (HBF Official Website)
- Combined packages (Healthslips)
- Overseas visitors insurance (Canstar)
- Glasses & contact lenses (HBF Official Website)
- Physiotherapy (Healthslips)
- Dental check-ups (Canstar)
- Psychology (Compare Club)
- Over 1 million members (Money.com.au)
- High satisfaction ratings (Canstar)
- No annual claim limits on many services (HBF Official Website)
- 24/7 health advice line (Healthslips)
The table below summarises key facts about HBF.
| Attribute | Value |
|---|---|
| Full Name | Hospital Benefit Fund of Western Australia |
| Founded | 1941 |
| Headquarters | Perth, Australia |
| Members | Over 1 million |
| Market Rank | 5th largest private health insurer in Australia |
| Type | Not-for-profit mutual |
| NAIC Complaint Index | Not applicable (Australia) |
| Standard & Poor’s Rating | Not publicly rated |
HBF’s not-for-profit status means it returns a higher share of premiums as benefits — 83.6% according to Canstar, above the industry average of 82.4%. For the member, that translates directly into more coverage per dollar.
What does HBF stand for in insurance?
What is the history of HBF?
- Founded in 1941 as the Hospital Benefit Fund of Western Australia (HBF Official Website)
- Started as a small not-for-profit serving WA workers (Healthslips)
- Acquired CUA Health in 2021 to enter Queensland market, now see-u by HBF (Healthslips)
Is HBF a mutual or a for-profit company?
HBF is a not-for-profit mutual owned by its members, not shareholders. According to the HBF Official Website, every dollar of premium goes back into member care. This structure is a key reason it belongs to the Members Health Fund Alliance, which represents not-for-profit health funds.
Where is HBF headquartered?
Based in Perth, Western Australia, HBF operates nationally. It is the fourth-largest health fund and the second-largest not-for-profit insurer in Australia, as reported by Healthslips.
The implication: HBF’s mutual structure aligns with member interests, not shareholder returns.
What types of insurance does HBF offer?
What hospital cover options does HBF provide?
- Private hospital cover with choice of doctor and private room at Member Plus hospitals (Compare Club)
- Basic Hospital Plus Elevate with excess options from $500 to $750 (Compare Club)
- Bronze Hospital Plus excludes pregnancy, birth, and cataracts (Compare Club)
What extras cover does HBF offer?
- Optical, dental, physiotherapy, psychology, and more (HBF Official Website)
- HBF covers 54.1% of general treatment (extras) charges according to Canstar, above the industry average of 50.7% per Money.com.au.
Does HBF have combined hospital and extras policies?
Yes, HBF offers combined packages that bundle hospital and extras cover, often at a discount. Policies are tailored for singles, couples, families, and single parents (HBF Official Website).
Are there overseas visitor health insurance products from HBF?
HBF provides overseas visitors health insurance that meets visa requirements, including visa 600. Cover includes hospital and medical services for visitors to Australia (HBF Official Website).
The pattern: HBF’s product breadth covers most needs, with extras being a standout.
What is HBF medical?
Is HBF medical the same as HBF health insurance?
Yes, “HBF medical” is simply a shorthand for HBF health insurance. It covers medical services under your chosen policy. Do not confuse it with hemoglobin F, a different context entirely.
Does HBF cover medical treatments like surgery?
HBF hospital cover includes surgery, accommodation, and related in-hospital costs. According to Canstar, HBF covers 93.1% of hospital related charges, above the industry average of 89% reported by Money.com.au.
How does HBF medical cover differ from other health funds?
- Not-for-profit structure means higher benefit ratios (Canstar)
- Member retention for hospital cover is 88.9% compared to industry average 83.2% (Money.com.au)
While HBF covers most hospital charges, pre-existing conditions typically carry a 12-month waiting period. Members who need immediate surgery for a known condition may find better short-term options elsewhere.
The catch: waiting periods can limit immediate access for pre-existing conditions.
Does HBF cover glasses?
What is the HBF optical cover limit?
- Yes, HBF extras cover includes benefits for glasses, contact lenses, and frames (HBF Official Website)
- Annual limits vary by policy; some plans offer up to $300 per person per year
- No waiting period for optical on most plans after joining
How do I claim for glasses or contact lenses?
Claims can be made at HBF member providers using your digital card, or via online submission through the HBF app. Many members report same-day processing (Healthslips).
Do I need to visit a HBF-accredited optometrist?
Not necessarily, but visiting a HBF member provider can mean instant claims and higher benefit limits (HBF Official Website).
What’s the best private health insurance in Australia?
How does HBF compare to Medibank, Bupa, and HCF?
Four funds, one big difference: not-for-profit vs for-profit. HBF and HCF are mutuals; Medibank and Bupa are listed or owned by shareholders. The table below shows how they stack up on key metrics.
Three funds, one pattern: not-for-profit insurers consistently return a higher share of premiums as benefits.
| Insurer | Type | Premiums Returned as Benefits | Hospital Charges Covered | Member Retention |
|---|---|---|---|---|
| HBF | Not-for-profit | 83.6% (Canstar) | 93.1% (Canstar) | 88.9% (Money.com.au) |
| Industry Average (All Funds) | Mixed | 82.4% (Money.com.au) | 89% (Money.com.au) | 83.2% (Money.com.au) |
| For-Profit Funds (Medibank, Bupa) | For-profit | ~80% (industry estimates) | ~87% (industry estimates) | ~80% (industry estimates) |
The implication: HBF’s not-for-profit model delivers measurably better value on these core metrics. For members, that means lower effective costs and fewer gaps in coverage.
Upsides
- Higher benefit ratios than for-profit insurers
- Strong member retention indicates satisfaction
- Broad extras cover with above-average charge coverage
- 24/7 health advice line included
Downsides
- Limited provider network in some states outside WA
- Lower-tier hospital plans exclude major treatments
- Premium increases still apply despite not-for-profit status
What are the top-rated health insurers by member satisfaction?
According to Canstar, HBF consistently earns high marks in member satisfaction surveys, often ranking among the top 3 alongside HCF and Teachers Health. Choice magazine also regularly recommends HBF for its value.
Is HBF a good choice for families?
Yes, particularly for families in Western Australia. HBF offers family policies with generous extras cover for children, including dental and optical. The not-for-profit structure means family premiums stay competitive.
How do HBF premiums stack up against competitors?
HBF premiums are generally in line with industry averages, but the higher benefit ratio means you get more back for what you pay. A Money.com.au analysis found that HBF returns 83.3% of premiums as benefits, 0.9 percentage points above the industry average.
“HBF consistently outperforms industry averages on benefit ratios and member satisfaction.”
— Canstar analyst, as cited in Canstar
How do I cancel HBF health insurance?
What is the HBF cancellation policy?
- Cancellation can be done online, by phone, or by email (HBF Official Website)
- Notice period is typically 30 days
- No cancellation fee if outside waiting period
- Refunds processed for unused premiums after cancellation date
Can I cancel online or over the phone?
Yes. Log in to your HBF online account, navigate to policy management, and follow the cancellation prompts. Alternatively, call HBF customer service at 13 13 34 or send a secure message through the HBF app.
Are there any fees or notice periods?
No cancellation fee applies as long as you are outside a waiting period. The fund requires 30 days’ written notice. If you cancel mid-policy, any unused premium is refunded to your nominated account.
What happens to my coverage after cancellation?
Coverage ends on the effective cancellation date. If you have claimed any benefits in the current period, those are settled before the policy closes. You will receive a final confirmation via email.
“Our not-for-profit structure means every dollar of premium goes back into member care, not shareholder dividends.”
— HBF CEO, as stated on HBF Official Website
The implication: HBF’s cancellation process is straightforward with no hidden fees, reflecting its member-first approach.
Confirmed facts
- HBF is a not-for-profit health insurer founded in 1941. (HBF Official Website)
- HBF offers hospital, extras, and overseas visitors cover. (Healthslips)
- HBF covers glasses under optical extras. (Canstar)
- HBF has over 1 million members. (Money.com.au)
What’s unclear
- Whether HBF covers typhoid fever specifically – depends on policy terms and waiting periods.
- Exact premiums and benefit limits vary by policy and state.
- HBF’s ranking among ‘top 3 health insurances’ is subjective and not officially defined.
- HBF’s market rank as 5th largest private health insurer is inconsistent with other sources stating 4th largest health fund.
- The exact percentage of premiums returned as benefits varies between sources (83.6% vs 83.3%).
“I claimed my glasses online and had the money in my account within 24 hours.”
— HBF member, as reported on Healthslips
For the typical Australian family, the choice is clear: HBF offers a rare combination of not-for-profit efficiency and strong member satisfaction. If you live in Western Australia or value high extras coverage, it is a standout option. For those needing major surgery or living outside WA, comparing HBF with other top-rated funds like HCF or Teachers Health may still be wise.
For a detailed look at member experiences and online account management, see this HBF health insurance review and login guide.
Frequently asked questions
What is the difference between HBF hospital cover and extras cover?
Hospital cover pays for in-hospital treatment and surgery; extras cover pays for out-of-hospital services like dental, optical, and physio.
Can I get HBF health insurance if I live outside Western Australia?
Yes, HBF operates nationally and offers policies to residents in all Australian states.
Does HBF cover pre-existing conditions?
Yes, but there may be waiting periods (typically 12 months) depending on the condition and policy.
How do I make a claim with HBF?
Claims can be submitted online via the HBF app, by mail, or at participating providers using your digital member card.
What is the HBF loyalty bonus?
HBF occasionally offers loyalty rewards such as reduced premiums or bonus extras after a certain number of years as a member.
Does HBF offer ambulance cover?
Yes, ambulance cover is included in most hospital policies and can be added as an extra.
Can I add a dependent to my HBF policy?
Yes, dependents such as a spouse or children can be added to an existing policy.
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