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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, 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 More info
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


2216 More info
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


1216 More info
UniHealth logo


None112 More info
Westfund Health Insurance logo


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.


Finder survey: Do Australians trust private health insurance funds?

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.

Why you can trust Finder's health insurance experts

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Frequently asked questions

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James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, WIN News, Insurance News, 7NEWS and The Guardian. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

James's expertise
James has written 258 Finder guides across topics including:
  • Car, home, life, health, travel and pet insurance
  • Managing the cost of living
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