About Members Own

Members Own Health Funds is a group of 16 like-minded not-for-profit and mutual health funds. We’ve come together to make Australians aware of the benefits of being with one of us.

Australia’s health insurance is dominated by a listed company and an overseas-based multinational. Australians need to know there are still Australian health funds that are run to benefit their members. We believe passionately that health insurance is about protecting the health of members, not making profits for others.

A report by DBN Actuaries that independently validates publicly available data from the Private Health Insurance Ombudsman (PHIO), the Australian Prudential Regulation Authority (APRA) and the Private Health Insurance Administration Council (PHIAC) shows that compared to the group of big for-profit funds, funds that carry the Members Own symbol on average give more back to their members, have higher member satisfaction and their members are less likely to leave their fund.

Benefits paid as a percentage of premiums1 Percentage of member complaints2 Member retention rate3
The Members Own health funds Medibank, ahm, Bupa and nib

(average)

The Members Own health funds

(20.5% market share)

Medibank, ahm, Bupa and nib

(63.3% combined market share)

The Members Own health funds Medibank, ahm, Bupa and nib

(average)

86.8% 84.6% 10.5% 63.2% 86.8% 83.9%

1 Average of cumulative 2011-2015 financial years
2 Level 3 complaints made to the Private Health Insurance Ombudsman in the 2015 financial year. A level 3 complaint is one that has required significant intervention from the Ombudsman
3 2015 financial year

Manifesto

This is where we stand: the guiding philosophy of all 16 health funds (18 brands) that carry the Members Own symbol is that it's just not right to profit from people's misfortunes or ill-health.

Members Own funds put their members first: instead of operating their business around how they can profit from you, they are thinking about how they can help you, now and for generations to come.

The Members Own funds are committed to returning more to members – providing more appropriate products, better service and returning more of your premium dollar back to you in benefits.

Members Own funds are committed to continuing to provide private health insurance with a heart. Unlike some funds they’re not distracted by the demands of corporate shareholders or overseas owners… to a Members Own fund you’re not a policy holder or a number, you’re a member.

Health funds that carry the Members Own symbol are thinking about you, working for you. Because what matters to them is you and your health.

You’re a person, not a profit centre.

The Members Own Health Funds story

In 2014 a group of not-for-profit and mutual health funds joined forces to communicate the advantages they provide over funds driven by the needs of shareholders and overseas owners. The fundamental message is that Australians have a choice when it comes to their health insurance: you can be with a fund that is driven by profit-seeking investors or overseas owners, or you can be with a not-for-profit or mutual health fund that puts its members first.

Members Own Health Funds launched to the general public in February 2015 and had an immediate impact.

Later in 2015 Members Own followed up by launching a phone-based health insurance comparison service, comparing a wide range of covers from a subset of the 18 MOHF brands. The comparison service exists primarily to help those without health insurance, or who have health insurance with a non-Members Own fund, to choose cover from a Members Own fund that suits their personal circumstances and health needs.

In November 2015, over 2.5 million Australians have their health insurance with a Members Own health fund.

Operating structure

Members Own Health Funds is a public company limited by guarantee and governed by a board of Directors who are executives of 8 of the member funds. The activities of Members Own Health Funds are funded by subscriptions of the members. All members have equal rights.

How Members Own Health Funds makes money

If a Members Own consultant assists you by:

  • arranging a more suitable cover with your current Members Own health fund,
  • switching you to a Members Own fund, or
  • referring you directly to a Members Own fund, then

Members Own receives a one-off payment from that fund. The payment amount is based on the type of assistance we provide, and is the same for all funds.

You don’t pay anything to Members Own for the service that we provide, and you don’t pay anything extra to the health fund on top of your premium as a result of joining the fund through the Members Own service.

Where the money we make goes

Any profit that Members Own Health Funds makes after covering operational expenses stays within the organisation to provide additional services for the 16 Members Own health funds.

Products and funds being compared

The products and funds being compared by our consultants changes from time to time. Most open products from participating funds are compared, but occasionally new products are introduced or old ones closed. Funds can choose to include or exclude products from the comparison service at any time.

There are no inducements/incentives provided to our call centre consultants to promote or sell particular funds or products.

Staff training

All Members Own staff are health insurance experts, with many having 3+ years’ experience working with other health insurance comparison services or health funds.

Phone consultant staff receive regular, comprehensive product training from the health funds in our comparison group and are well equipped to help you identify your health needs and seek out the cover most appropriate to your personal circumstances.

Data collection and storage

We collect personal information from you to help us provide you with a quote, such as your age and where you live. We also ask you about your health needs and what you may require from your policy, and if we proceed to set up your health insurance we also require items such as the date of birth and Medicare numbers for all people being covered.

The data we collect from you is stored in the cloud and secured by state-of-the-art physical, network, people, redundancy and business continuity practices. The security practices have been certified as SOC-2 by AICPA. More information about the security practices is available from Members Own Health Funds upon request.

Call recordings can be shared with the fund for training and development purposes.