HCF health insurance policy review

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Hospitals Contribution Fund (HCF) is one of the largest and well-known private health insurance brands in Australia. As a not-for-profit provider, HCF has committed to re-investing its earnings back into the fund, allowing it to offer cheap premium rates and savings to its members.

Who is HCF?

HCF is a not-for-profit insurance company, meaning any profit goes back into the fund rather than being shared among shareholders. Over the last 5 years, HCF have paid out more in premiums to members in benefits than the industry average.

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What health insurance options are available?

• Hospital cover only
• Extras cover only
• Hospital & Extras cover packages

How does HCF Ambulance Cover work?

Ambulance Cover from HCF is only available for residents of NSW and the ACT. It provides cover for emergency ambulance travel provided by state government services anywhere in Australia.

You also have an annual cover limit for medically necessary, non-emergency ambulance services where your doctor requires you to be transported by ambulance, for up to $5,000. This occurs in situations where your condition needs to be monitored and the right medical support provided while you are in transit.

This cover is offered for singles, couples, families and single parent families, and there is no need to pay upfront for the ambulance service you use once you're insured.

Ambulance Cover is available as a standalone policy or with Cash Back Cover. Cash Back Cover offers a cash benefit to help you cover additional expenses that arise when you are sick or injured. Available from $2 a week for singles, Cash Back Cover provides:

• A $5,000 benefit for accidents requiring surgery
• A $5,000 benefit for serious specified medical conditions including malignant cancer, chronic kidney failure, heart disease requiring bypass surgery, heart attack OR stroke

You're also eligible to make multiple claims, up to a limit of $20,000 for singles and $40,000 for families.

Policy limitations, exclusions, waiting periods and excesses

Always check the conditions and the list of general exclusions to make sure you know what is and isn't covered. HCF will not pay your claim if:

• The ambulance transport you receive does not meet the approved definition supplied in the PDS (For example, if it is for transport you receive when you are discharged from hospital)
• You are covered by another arrangement, such as a state government ambulance subscription scheme
• It is for transfers between hospitals
• It is for transport provided by an ambulance service not recognised by HCF

Are there waiting periods?

There are waiting periods which apply when you take out HCF Ambulance Cover. A one-day waiting period applies to emergency ambulance. There is a two-month waiting period for medically necessary non-emergency ambulance. If you require ambulance transport or treatment for a pre-existing ailment or condition, keep in mind that you will have to serve a 12-month waiting period.

How much does HCF Ambulance Cover cost?

There are several factors that can influence how much HCF Ambulance Cover costs:

• Whether you take out a single policy or a couples, family or single parent family policy.
• Whether you live in NSW or the ACT.
• Your age and income have an impact on the amount of Australian Government private health insurance rebate you are entitled to.

Member offers

As a not-for-profit organisation, HCF have a number of member offers and benefits including:

• Diamond members. If you've been with HCF for over 25 years and have a top tier policy, you are rewarded with preferential servicing, a growing range of exclusive offers, VIP experiences and more.
• Ruby. If you've been with HCF for more than 10 years, you get access to special offers and rewards, exclusive access to unique events and more.
• Emerald. For 5 years service or more you can access an increasing range of discounts and privileges from HCF partner brands.
• Opal. Customers who have been with HCF for under 5 years are still rewarded with various exclusive offers and rewards.

How to make a claim

If you need to make an extras claim with HCF, you can lodge your claim in the following ways:

• On the spot. You can swipe your HCF membership card when you visit your service provider to claim immediately.
• Via the HCF mobile app. You can take a photo of your receipt with your smartphone to submit your claim.
• Online. Online claims can be made through the HCF member services portal. You'll need to post your original receipts to the health fund to complete your claim.
• At a branch. Claims can be lodged in an HCF branch by presenting your membership card and your original receipts.
• By post. You also have the option of downloading a claim form from the HCF website or phoning the health fund to request one. You can then send the completed claim form and your receipts to: HCF, GPO Box 4242, Sydney NSW 2001.

As for medical bills from your treating doctor, if you were treated under the HCF Medicover agreement the bills will go directly to HCF. If not, you can submit your health insurance claim at any HCFor Medicare branch.

Overseas visitors or Students

If you're planning on visiting or working in Australia, HCF have a range of options available to you. It's important you have the right level of health insurance as part of your visa requirements.