Navigating Australia’s healthcare system can feel complex. While Medicare provides a fantastic safety net for all Australians, many people choose to supplement it with private health insurance for greater choice, control, and peace of mind. Among the many providers, HBF stands out with a long history and a unique member-focused approach. This guide will explore the benefits of private health insurance and take a closer look at what HBF offers.

Why Consider Private Health Insurance?

Medicare is the foundation of Australia’s healthcare, giving all citizens and most permanent residents access to medical services. It covers costs for seeing a doctor, treatment in public hospitals, and subsidizes many prescription medications. So, why do nearly half of all Australians also have private health insurance? The answer lies in the additional benefits and flexibility it provides.

One of the main advantages is avoiding public hospital waiting lists for elective surgeries. These are non-emergency procedures like knee reconstructions or cataract surgery. Public system wait times can sometimes stretch for months or even years. Private health insurance allows you to be treated sooner in a private hospital.

It also gives you the power to choose your own doctor or specialist for in-hospital treatments. This continuity of care is important to many people who want a trusted medical professional overseeing their procedure. Furthermore, private health insurance often provides access to a private room in the hospital, offering more comfort and quiet during your recovery.

Beyond hospital cover, private health insurance can also include ‘extras’ cover. This helps pay for services not covered by Medicare, such as dental check-ups, new glasses or contact lenses, physiotherapy, and chiropractic care. These out-of-pocket costs can add up quickly, and extras cover makes managing them more affordable.

What Makes HBF Different?

HBF, or the Hospital Benefit Fund, has been a part of Australia’s healthcare landscape for over 80 years. But what truly sets it apart is its structure. HBF is a not-for-profit health fund. This is a crucial distinction. Instead of generating profits for shareholders, HBF reinvests its earnings back into the fund to benefit its members. This can translate into better services, more competitive premiums, and a stronger focus on member well-being.

This member-first philosophy is at the core of HBF’s identity. The organization is driven by a mission to improve the health of its members, not by delivering dividends. This focus has helped HBF build a reputation for trust and reliability, making it one of Australia’s largest and most respected not-for-profit health funds.

A Legacy of Member-First Service

HBF’s long history is built on a foundation of genuine care. The fund was established to help people manage their healthcare costs, and that purpose remains unchanged. This legacy is reflected in their customer service approach, which aims to be supportive and clear. When you need to make a claim or simply have a question about your policy, dealing with a team that is focused on helping you can make all the difference. Their not-for-profit status means their primary stakeholders are their members, and this influences every interaction.

Community Involvement and Health Initiatives

HBF’s commitment to health extends beyond its insurance policies. The organization is actively involved in community initiatives aimed at promoting healthier lifestyles. This includes sponsoring community fun runs, supporting local sports teams, and funding health research. For example, HBF Run for a Reason in Perth is a major annual event that encourages physical activity while raising money for health-related charities. By choosing HBF, members are indirectly supporting these wider community health goals, contributing to a healthier society for everyone.

Understanding HBF’s Coverage Options

HBF offers a wide range of policies designed to meet the diverse needs of individuals, couples, and families. Their products are generally separated into two main categories: Hospital cover and Extras cover. You can take them out separately or combine them for more comprehensive protection.

HBF Hospital Cover

HBF’s hospital policies are tiered to provide different levels of coverage, allowing you to choose a plan that matches your life stage and budget. These tiers are standardized across the industry as Basic, Bronze, Silver, and Gold.

• Basic: These entry-level policies cover a limited range of treatments in a private hospital, often including services like accident-related care and wisdom teeth removal. They are designed for younger, healthier individuals who want basic protection from the unexpected.
• Bronze: A step up, Bronze policies cover a wider array of services, typically including common procedures related to the digestive system, joint investigations, and gynecological care.
• Silver: These policies offer broad coverage for many more hospital treatments. They often include heart and vascular system procedures, lung and chest conditions, and major eye surgery. Silver Plus policies are also common, adding even more clinical categories.
• Gold: This is the top tier of hospital cover. A Gold policy covers all 38 clinical categories of in-hospital services and procedures that are eligible for benefits. This includes joint replacements, cataract surgery, pregnancy and birth services, and assisted reproductive services. It provides the most comprehensive peace of mind.

HBF allows you to customize your hospital cover by choosing your excess. The excess is the amount you agree to pay upfront if you are admitted to the hospital. Opting for a higher excess generally results in a lower ongoing premium, giving you a way to manage your costs.

HBF Extras Cover

Extras cover is where you can see a return on your investment throughout the year, even when you are perfectly healthy. It helps pay for the day-to-day health services that Medicare doesn’t cover. HBF offers several levels of extras, so you can pick one that covers the services you use most.

Common services included in HBF extras policies are:

• Dental: This can range from general dental (check-ups, cleaning, fillings) to major dental (crowns, bridges, orthodontics).
• Optical: Provides benefits for prescription glasses, contact lenses, and sometimes even sunglasses.
• Physiotherapy: Covers treatment for injuries, muscle pain, and rehabilitation.
• Chiropractic and Osteopathy: For spinal alignment and musculoskeletal health.
• Other Therapies: This can include podiatry, remedial massage, psychology, and speech therapy.

Each extras policy comes with annual limits, which is the maximum amount you can claim for a particular service in a year. Higher-level policies offer higher annual limits and cover a wider range of services.

Choosing the Right HBF Policy for You

With so many options, selecting the right HBF policy requires some thought about your personal circumstances.

1. Assess Your Life Stage and Health Needs: Are you a young single who mainly wants cover for accidents and basic dental? A basic hospital and simple extras plan might suffice. Are you planning to start a family? You’ll need a Gold hospital policy that includes pregnancy and birth. Do you have a history of back problems? Ensure your extras cover includes physiotherapy or chiropractic with good annual limits.
2. Consider Your Budget: Your premium is an ongoing expense, so it must be affordable. Use HBF’s online tools to get quotes for different levels of cover. Remember that choosing a higher hospital excess can be an effective way to lower your premium. Balance the cost against the level of protection you feel comfortable with.
3. Review the Details: Don’t just look at the price. Read the policy document carefully. Pay attention to waiting periods, which are the initial periods you must hold your policy before you can claim for certain services. Check the annual limits for extras and any co-payments you might need to make.
4. Take Advantage of Member Benefits: As an HBF member, you may have access to discounts and special offers from partner providers. This can include savings at optical stores, gyms, and other health and wellness services, adding extra value to your membership.

Ultimately, choosing private health insurance is about investing in your health and well-being. A not-for-profit provider like HBF offers a compelling option, combining comprehensive coverage with a genuine commitment to its members’ health. By understanding your needs and exploring the policies available, you can find a plan that gives you confidence and security for whatever lies ahead.