HBF Health

What HBF Health does

HBF Health Limited is an Australian not-for-profit private health insurer headquartered in Perth, Western Australia, founded in 1941 and operating under ABN 11 126 884 786. The company serves over one million members across all Australian states and territories, positioning itself as Australia's second largest member-based health fund. HBF sells modular, mix-and-match health insurance products spanning Hospital Cover (Basic Accident Only through Gold Hospital Elevate tiers), Extras Cover (Basic Extras through Top 70), ambulance add-ons, and Overseas Visitors Health Cover (OVHC) for visa holders, distributed through a multi-channel architecture including the myHBF portal, iOS/Android app, phone sales (133 423), a physical branch network, and the Member Plus preferred provider program.

Revenue is generated via recurring subscription premiums that vary by state, age, tier, and excess level, with example pricing starting at approximately $13.81 per week for Basic Hospital Accident Only cover. The Member Plus network (HBF Dental, HBF Physio, Pharmacy 777, TerryWhite Chemmart) and Member Perks program layer non-insurance value on top of the core product, while structured health programs cover cardiovascular, osteoarthritis, diabetes, joint pain, weight management, mental health, and telehealth conditions. As a not-for-profit, surplus is reinvested for members rather than distributed to shareholders.

Technically, HBF has invested in digital modernization, deploying a Salesforce-based generative AI agent for member services in June 2026 (initially unauthenticated conversational search, with authenticated account actions planned), and embedding HealthShare-powered Provider Search and Wistia-hosted member education content. Leadership is led by CEO John Van Der Wielen and CIO David Gollan, with a workforce of 501-1,000 employees.

Name

HBF Health

Legal name

HBF Health Limited

Website

https://hbf.com.au

Company type

Private

Founded year

1941

Operating status

Operating

Headcount range

501–1,000 employees

Short description

HBF Health is an Australian not-for-profit private health insurer founded in 1941, headquartered in Perth, serving over one million members across all states and territories with modular hospital, extras, and overseas visitor cover.

Ownership category

akta.pro rank

Product category

Private Health Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Accident & Health Insurance (6321), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Self-Funded Employer Plan TPA (ASO Administration) (HLAEALAA)

Keywords

• Private health insurance
• Hospital cover
• Extras cover
• Overseas visitor cover
• Ambulance cover

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Health Insurance Premiums: HBF generates revenue through subscription-based health insurance premiums paid by members. Premiums vary by coverage level (Basic to Gold hospital and extras tiers), state, age, excess level, and Australian Government Rebate eligibility. Premium payments can be made via direct-debit, with pricing starting from approximately $13.81 per week for basic hospital cover.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

HBF Health is a not-for-profit private health insurer that sells modular Hospital Cover (Basic Accident Only through Gold tiers) and Extras Cover (dental, physio, optical, etc.), which members can mix and match. It also provides Overseas Visitors Health Cover (OVHC), ambulance cover, member health programs, the Member Plus preferred provider network, and Member Perks discounts, with self-service through the myHBF portal, HBF App, and a Salesforce-based generative AI agent.

Product overview

HBF Health is a not-for-profit health insurance provider offering a modular, mix-and-match product architecture comprising Hospital Cover (ranging from Basic to Gold tiers) and Extras Cover (from Basic to Top 70), which can be purchased separately or combined. Hospital products span Basic Hospital Accident Only, Basic Hospital Plus, Basic Hospital Plus Elevate, Lite Bronze Hospital Plus, Bronze Hospital Plus, Essential Silver Hospital, Silver Hospital, Silver Hospital Plus, and Gold Hospital Elevate. Extras products include Basic Extras, Smart Start Extras, Value 50, Flex 50, Core Extras, Flex 60, Complete 60, and Top 70. Additional offerings include ambulance cover (Essential, Urgent, and Ambulance Care), Overseas Visitors Health Cover (OVHC), health programs and services, HBF Member Perks discount program, the myHBF online portal, the HBF App mobile application, and the HBF Member Plus preferred provider network. The company also launched its first generative AI agent for members in June 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Hospital Cover Hospital insurance that helps cover costs when admitted to hospital, including doctors' fees, accommodation, and theatre fees. Available in multiple tiers ranging from Basic Accident Only through Gold Elevate, with members able to choose their excess level and select cover for accident-only or broader treatment categories.
• Extras Cover Extras insurance that helps cover the cost of everyday healthcare services including dental, physiotherapy, optical, chiropractic, mental health, podiatry, and more. Available in multiple tiers from Basic through Top 70, with selected tiers offering 50%-70% rebates up to annual limits and combined annual limits (Flex 50, Flex 60) that can be allocated across service categories.
• Overseas Visitors Health Cover (OVHC)

Quantifiable outcome

• 100% back on first scale and clean per year at Member Plus dental providers
• +4 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature1 record

Partnerships

Five partnerships are on record, tiered minor and core.

• Dentique Dental SpaminorChannel Partner/ Reseller/ Distributor · 1 July 2026Boutique dental practice in Mount Lawley, Perth has been accepted into HBF Member Plus Network. Eligible HBF members can access enhanced rebates including up to 100% back on preventative dental services and one fully covered scale and clean per calendar year. Practice agrees to comply with HBF fee schedules.
• HealthSharecoreTechnology or IntegrationHealthShare supplies HBF Provider Search data, including provider names, practice locations and specialities. The HBF Provider Search tool shows if a provider has entered into agreements with HBF (Member Plus, Full Cover and Access Gap Cover providers) to help members minimise out-of-pocket costs.
• Members Health AlliancecoreStrategic or Co-development PartnerHBF is a proud member of Members Health Alliance, working alongside other not-for-profit health funds as a member-first fund. The alliance represents the interests of not-for-profit health insurers in Australia.
• Pharmacy 777coreStrategic or Co-development PartnerHBF partnership with Pharmacy 777 provides members with access to pharmacy services and discounts through the pharmacy network.
• TerryWhite ChemmartcoreStrategic or Co-development PartnerHBF partnership with TerryWhite Chemmart provides members with 100% back on flu vaccinations and annual health checks at participating locations. Members must have Healthy Living Programs on their Extras cover to be eligible.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• nib Holdings: ASX-listed Australian private health insurer offering hospital and extras cover to individuals and international students/workers. Comparable direct competitor to HBF with a particular focus on OVHC and digital-first acquisition.
• Australian Unity: Mutual organization offering private health insurance alongside banking and aged care. Competes with HBF in hospital and extras cover, with a comparable member-focused mutual model.
• Medibank Private: Australia's largest private health insurer, offering hospital and extras cover to individuals and families. Direct competitor to HBF across all states and territories with a similar mix-and-match product architecture and significantly larger scale.
• CBHS Health Fund: Not-for-profit restricted-membership health fund primarily serving Commonwealth Bank employees, now opened to the public. Competes with HBF in hospital and extras cover with a similar member-first value proposition.
• Teachers Health: Restricted-membership not-for-profit health fund for education sector employees and their families. Offers similar hospital and extras products to HBF and competes for the same family and individual segments.
• HCF (Hospitals Contribution Fund): Australia's largest not-for-profit private health insurer, offering hospital and extras cover nationally. Closest structural peer to HBF given its mutual/member-owned model and similar mix-and-match product strategy.
• Bupa Australia: Major private health insurer in Australia (subsidiary of UK-based Bupa) offering hospital, extras, and OVHC products. Direct competitor to HBF with a national footprint and significant marketing budget.

Regional players

• TUH Health Fund: Not-for-profit health fund originally serving Queensland teachers, now opened to the public. Comparable mutual structure and product mix to HBF, competing primarily in Queensland.
• Westfund: Not-for-profit member-owned health fund with strong presence in regional NSW and QLD. Comparable mutual model to HBF and direct competitor in regional Australian markets.
• GMHBA: Member-owned not-for-profit health fund based in Geelong, Victoria, with a strong regional presence. Comparable mutual model to HBF and competitor in Victoria, Tasmania, and select other states.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/HBFAustralia
• Facebookfacebook.com/hbfhealth
• LinkedInlinkedin.com/company/24789
• Instagraminstagram.com/hbfhealth
• Xx.com/hbfhealth

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HBF Health