What health funds are owned by other health funds?

Considering our size and population, Australia has a large diversity of health funds. While a few funds have a sizeable market share, you still have lots of options when it comes to protecting yourself and your loved ones with private health insurance.

What you might not realise is that many health funds are underwritten by larger groups or owned by other health funds entirely. Knowing what health funds are owned by other health funds could influence your decision on which policy to go with. So let’s dive right in!

Living in Australia means you have access to a huge selection of health funds, many of which are set up to service the specific needs and preferences of their customer base. Below is a comprehensive list of health funds in Australia:

1. ACA Health Benefits Fund
2. ahm Health Insurance
3. AIA Health Insurance Pty Ltd
4. Australian Unity Health Limited
5. Bupa HI Pty Ltd
6. CBHS Corporate Health Pty Ltd
7. CBHS Health Fund Limited
8. CDH Benefits Fund
9. Defence Health Ltd
10. Doctors' Health Fund Pty Ltd
11. GMHBA Limited
12. GU Health
13. HBF Health Limited
14. HCF
15. HCi
16. Health Partners
17. HIF
18. Latrobe Health Services
19. Medibank Private Limited
20. Mildura Health Fund
21. National Health Benefits Australia Pty Ltd (onemedifund)
22. Navy Health Ltd
23. nib Health Funds Ltd
24. Peoplecare Health Insurance
25. Phoenix Health Fund Limited
26. Police Health
27. Queensland Country Health Fund Ltd
28. Reserve Bank Health Society Ltd
29. RT Health
30. see-u by HBF
31. St. Lukes Health
32. Teachers Health
33. Transport Health
34. TUH Health Fund
35. Westfund Limited

There are also some other health funds not listed here that are underwritten by larger providers, such as Qantas Health Fund (nib) and Frank Health Insurance (GMHBA). It pays to do your research if you are looking at a fund that isn’t on our list.

nib is one of Australia’s most prominent health insurers – and as you’ve probably already guessed, it owns a number of other health funds. Having this type of hierarchical business structure means nib gets to offer a broader range of products and services across much wider segments of the market. Here are some of the health funds owned by nib:

1. nib Health Insurance: The primary brand under which nib operates, offering a wide range of health insurance products.
2. AAMI Health Insurance: A very recognisable insurance brand in Australia – this is their health insurance arm.
3. Suncorp Health Insurance: Another major insurance brand that offers other forms of insurance – this is their health insurance arm.
4. Qantas Health Insurance: A partnership between nib and Qantas that provides health insurance with benefits linked to Qantas Frequent Flyer points.
5. GU Health: Specialises in corporate health insurance solutions for businesses and their employees.
6. IMAN Australian Health Plans: Provides health insurance for temporary migrant workers in Australia.
7. ING Health Insurance
8. Priceline Health Insurance
9. Real Insurance
10. Australian Seniors
11. UnitedHealthcare Global

Yes, Medibank wholly owns ahm (Australian Health Management) these days. Being one of the country’s largest health insurers, it shouldn’t come as a surprise that they acquired ahm back in 2009. These days, ahm operates as a subsidiary underneath the Medibank ‘umbrella’, but it still retains its own distinct brand identity and insurance products.

Whereas Medibank focuses on comprehensive health insurance with extensive hospital and extras cover, ahm is more about being straightforward and having affordable health insurance options – designed to appeal to budget-conscious consumers and younger adults.

If you’re stuck deciding between different health funds, especially those owned by larger entities like Medibank or nib, it can be helpful to think about the pros and cons of each before making a choice.

Pros of a large health fund

1. Wider network: Large health funds have more extensive networks of hospitals, clinics and healthcare providers, which is what you want as a customer and future patient.
2. Comprehensive cover: These funds are able to offer a bigger selection of plans with every type of coverage option, including hospital, extras and added services.
3. Extra benefits: Members might get to enjoy additional perks such as wellness programs, discounts on health products, access to health apps, etc.
4. Stability: Larger funds tend to be more financially stable, which means they could handle claims faster and give you more consistency with their services.

Cons of a large health fund

1. Higher premiums: Larger funds may have higher premiums compared to smaller or restricted funds. This could be a big factor if you’re on a tight budget.
2. Less personalised service: With a larger customer base, these funds may be more formal and less personal when you’re dealing with their customer service teams.

Pros of a smaller health fund

1. Personalised service: Smaller health funds tend to be able to give you a more personalised customer service experience.
2. Competitive pricing: These funds may be set up in such a way to have more competitive pricing and unique plans that cater to your specific needs.
3. Community focus: Many smaller health funds have strong ties with the community, with some even reinvesting profits into member benefits and community health initiatives.

Cons of choosing a smaller health fund

1. Limited network: Smaller funds might have a more limited pool of hospitals and healthcare providers for you to choose from.
2. Fewer plans: They may also only have a handful of plans available, and be more limited in your flexibility to customise the cover.

Whether you end up going for a larger, more-established fund like Medibank or nib, or instead choose a smaller provider for its great customer service, the most important thing is that you take everything into consideration before deciding. By carefully comparing the options in front of you, you can choose the health insurance plan that best suits your current circumstances.