Finder makes money from featured partners, but editorial opinions are our own.

Not-for-profit health funds

More than a third (36%) of people are more likely to choose a not-for-profit health fund – find out why.

What you need to know

  • Not-for-profit health funds use any revenue for the benefit of their members and to meet any operational costs.
  • Some funds restrict membership to those who work in certain industries, and their families, while others are open to anyone.
  • You can compare both types of funds right here on Finder.

What is a not-for-profit health fund?

A not-for-profit health fund is one that sells health insurance but isn't trying to make money for owners or shareholders. Instead, any remaining profits are put toward improving the service reducing premiums. This is unlike a for-profit health fund, which is owned by outside interests and makes a profit out of members' premiums to provide a return to its owners and/or shareholders.

Many not-for-profit health funds are open to anyone – such funds include like HCF, Frank Health Insurance, HBF and Westfund. Others, however, restrict membership to people from a particular employment group or professional association – some restricted health funds include Teachers Health, Defence and Police Health.

List of not-for-profit health insurers

According to privatehealth.gov.au, these funds report as a mutual organisation that operates on a not-for-profit basis:

Health FundBronze Policies AvailableSilver Policies AvailableGold Policies AvailableExtras Policies AvailableApply
HCFHCF14110 Get quote
peoplecarePeoplecare Health Insurance1214 Get quote
HBF LogoHBF1215 Get quote
GMHBA health fund logoGMHBA2426 Get quote
ACA logoACA1None22 More info
CBHS logo
CBHS Health Fund
1113 More info
Cessnock District Health FundCDH1314 More info
Defence_Health_Logo_100Defence Health1113 More info
Emergency Services Health logoEmergency Services HealthNoneNone11 More info
Frank Health Insurance logoFrank22None7 Get quote
Health Care Insurance logo

Health Care Insurance

1113 More info
Health Partners logoHealth Partners1214 Get quote
HIF health insurance logo

HIF

2216 Get quote
Latrobe Health Services logoLatrobe Health Services2217 More info
Mildura logoMildura Health FundNoneNone14 More info
Navy Health Logo
Navy Health
1113 More info
Nurses & Midwives Health logoNurses & Midwives HealthNone212 More info
Phoenix health fund logoPhoenix Health Fund33None3 More info
Police health logoPolice HealthNoneNone11 More info
RT Health Fund logoRT Health Fund2113 More info
RBHS logoRBHSNoneNone11 More info
St.lukes health logoSt.Lukes Health2311 More info
Teachers Health logo

Teachers Health

None113 More info
TUH logo

TUH

1216 More info
UniHealth logo

UniHealth

None112 More info
Westfund Health Insurance logo

Westfund

1215 More info

The list of restricted not-for-profit funds which limit membership to certain groups includes:

Note: Doctors' Health is a for-profit fund that is owned by the Avant Mutual Group, a group that operates on a not-for-profit basis.

Source: http://www.ombudsman.gov.au/publications/state-of-the-health-funds-report/2017-state-of-the-health-funds-report#sec6

Finder survey: Do Australians trust private health insurance funds?

Response
Yes53.98%
No46.02%
Source: Finder survey by Pure Profile of 1006 Australians, December 2023

What are the differences between a not-for-profit and a for-profit health fund?

There are several differences between not-for-profit and for-profit health funds.

  • They have different business structures – a not-for-profit is a mutual organisation, while a for-profit is often a corporation with owners and shareholders.
  • Not-for-profit funds sometimes have lower premiums. Because they exist solely to benefit members, they return a higher percentage of funds to their members in the form of cheaper premiums. However, smaller not-for-profit funds may not have the scale to compete with larger funds on price.
  • Not-for-profit funds often have better benefits – because all monies are returned to the fund, any surplus is spent on improving member benefits.
  • Not-for-profit funds can have more flexible terms – conditions such as excesses, waiting periods and pre-existing conditions are sometimes reduced or waived altogether.

Why compare health insurance with Finder?

  • We don't ask for your phone or email to see prices.

  • With 1 click, you can open your results to nearly every fund in Australia.

  • You pay the same price as going direct – we charge no fees.

Start comparing for freeStart comparing for free

Why you can trust Finder's health insurance experts

free

We're free

Our health insurance engine is completely free to use. You pay the same as buying directly from the health insurer. Better still, we regularly run exclusive deals that you won't find on any other site.
expert advice

We're experts

We've researched and rated hundreds of policies as part of our Finder Awards. We've published 250+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and you can compare nearly every health fund in Australia on the site (and find a better deal).
help

We're here to help

Since 2014, we've helped 350,000+ people find health insurance by explaining your options simply. We'll never ask for your number or email to see prices. We're here to help you make a decision.

Frequently asked questions

More guides on Finder

Ask a Question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site