Top 7 Questions You Should Ask When Choosing The Best Value Health Fund
Ben Thomas,
Customer Experience Manager
Health Insurance Expert, who’d sign up for that job title? Ben Thomas did in 2008 and hasn’t looked back.

Finding the best value health cover shouldn’t be that hard. These 7 Q&As will help you understand who the good guys are.


The right questions to ask if you want to find the best value health fund

There are a lot of misconceptions about health insurance in Australia. With basically every health fund claiming to be ‘good’, it’s hard to tell who the good guys really are.

But, it’s actually not that hard. You just have to know the right questions to ask and who to ask them to find the best health fund for you. These 7 Q&As will put you in a much better position to judge whether the fund that you’re with is one of the good guys.

1. So what are the biggest differences between health insurance companies?

There are two types of health funds – those who exist to make profits for investors or overseas owners and then there are not-for-profit or mutual funds who exist solely to benefit their members.

2. How does “existing solely to benefit members” help me?

Unlike the big, familiar ‘for-profits’, not-for-profit and mutual funds exist to return profits back to their customers. They provide great value for money in two ways that matter most: better coverage and more benefits, which is why they have happier members, like David and Sue below.

MOHF TVC Extensions – David & Sue from Members Own Health Funds on Vimeo.

“I like the fact that the money goes back to us and our family.” – Sue

3. Are all not-for-profit and mutual funds the same?

The short answer is no. Returns to customers on benefits and level of coverage can vary. Members Own health funds is a collective of these not-for-profit and mutual funds, which have come together to set the standard on coverage, benefits and service.

4. What does ‘better coverage’ mean?

It means customers of most Members Own funds are able to access about as many and in some cases more private hospitals in Australia than those with the big ‘for-profit’ brands.

5. What is the evidence that Members Own funds provide more benefits?

Although value means different things to different people, the main measure is what percentage of premiums are paid back to members in benefits.

Over the last five years, on average, the Members Own funds have collectively paid back a higher proportion of premium contributions to their members than the group of big ‘for-profit’ funds.

6. Better coverage and more benefits sounds obvious, but will I really notice a big difference as an individual customer?

Not always. But from what we’ve seen, the Members Own Health Funds outstanding loyalty to their 1 million customers and their relatively low share of complaints means their customers are far more likely to be happier.

7. Is it hard to find a Members Own health fund?

Previously it did require a bit of ringing around and searching online to find the best one for you. For years, a lot of our funds went unnoticed by too many. That’s why Members Own Health Funds was set up – so that more Australians could discover health insurance’s best kept secret.

So if a Members Own fund sounds like the sort of health cover you deserve, jump on our online comparison tool today and find a health fund that gives more back.