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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.
According to privatehealth.gov.au, these funds report as a mutual organisation that operates on a not-for-profit basis:
| Health Fund | Bronze Policies Available | Silver Policies Available | Gold Policies Available | Extras Policies Available | Apply |
|---|---|---|---|---|---|
 HCF | 1 | 4 | 1 | 10 | Get quote |
 Peoplecare Health Insurance | 1 | 2 | 1 | 4 | Get quote |
 HBF | 1 | 2 | 1 | 5 | Get quote |
 GMHBA | 2 | 4 | 2 | 6 | Get quote |
 ACA | 1 | None | 2 | 2 | More info |
 CBHS Health Fund | 1 | 1 | 1 | 3 | More info |
 CDH | 1 | 3 | 1 | 4 | More info |
 Defence Health | 1 | 1 | 1 | 3 | More info |
 Emergency Services Health | None | None | 1 | 1 | More info |
 Frank | 2 | 2 | None | 7 | Get quote |
 | 1 | 1 | 1 | 3 | More info |
 Health Partners | 1 | 2 | 1 | 4 | Get quote |
 | 2 | 2 | 1 | 6 | Get quote |
 Latrobe Health Services | 2 | 2 | 1 | 7 | More info |
 Mildura Health Fund | None | None | 1 | 4 | More info |
 Navy Health | 1 | 1 | 1 | 3 | More info |
 Nurses & Midwives Health | None | 2 | 1 | 2 | More info |
 Phoenix Health Fund | 3 | 3 | None | 3 | More info |
 Police Health | None | None | 1 | 1 | More info |
 RT Health Fund | 2 | 1 | 1 | 3 | More info |
 RBHS | None | None | 1 | 1 | More info |
 St.Lukes Health | 2 | 3 | 1 | 1 | More info |
 | None | 1 | 1 | 3 | More info |
 | 1 | 2 | 1 | 6 | More info |
 | None | 1 | 1 | 2 | More info |
 | 1 | 2 | 1 | 5 | 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.
There are several differences between not-for-profit and for-profit health funds.
In a few clicks you can compare health cover available from Australian funds. To search for a not-for-profit fund, simply select funds and choose your provider on the results screen.
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