Frank Health Insurance

What Frank Health Insurance does

Frank Health Insurance is an Australian online-only private health insurer that has operated as a digital-only brand of the not-for-profit fund GMHBA Limited since 2009. The company sells Hospital cover, Extras cover (including Lite, Classic, Max, and Bundables tiers), and Overseas Visitor Health Cover (OVHC) to individual consumers across Australia, structured as Singles, Couples, Family, Single Parent, Under 30s, High Income Earners, and Overseas Visitor segments. Its core distribution and service stack is built around a website quote engine, a mobile app with biometric login and Apple Wallet digital member cards, ECLIPSE-based hospital eligibility checks, and HICAPS/CSC HealthPoint terminal integration for instant ancillary claiming — a deliberately branchless architecture that removes physical retail overheads. Frank is part of GMHBA Limited (founded 1934), one of Australia's regional not-for-profit health insurers, and is therefore not equity-funded; capital is provided by the parent and surpluses are reinvested in member outcomes rather than distributed to shareholders. Premiums are subscription-based, billed weekly through annually via direct debit, with pricing tiered by age, state, family configuration, and rebate eligibility; entry-level Basic Accident Boost Hospital starts at AUD 23.00/week for a 30-year-old in Victoria. Frank operates exclusively in Australia and has reached the milestones of 1.4 million cumulative member "health moments" since 2009, partnerships covering 500+ private hospitals via AHSA and 4,000+ dentists via smile.com.au, and consecutive industry award recognition from WeMoney and Finder (2022-2026).

Name

Frank Health Insurance

Legal name

GMHBA Limited

Website

https://frankhealthinsurance.com.au

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Frank Health Insurance is an Australian online-only not-for-profit private health insurer (a brand of GMHBA Limited) offering Hospital, Extras, and OVHC cover to individual consumers through a fully digital acquisition and claims platform.

Ownership category

akta.pro rank

Product category

Private Health Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

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

akta.pro primary industry

Off-Exchange Individual Major Medical Plans (FSAIAEAB)

akta.pro secondary industries

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity) (HLAEABAJ)

Keywords

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

Headquarters

HQ city

Geelong

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Health Insurance Premiums: Frank generates revenue through subscription-based health insurance premiums paid by members. Premiums are charged weekly, fortnightly, monthly, quarterly, six-monthly, or annually via direct debit. The company is not-for-profit, meaning premiums go towards better service and products rather than shareholders.
2. Overseas Visitors Health Cover (OVHC): Separate product line providing health insurance for overseas visitors to Australia, generating additional premium revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Frank Health Insurance provides simple, affordable private health insurance to Australian consumers through an online-only digital model with no physical stores. Its core offerings include Hospital Cover (ranging from Basic Accident Boost through Silver tier covering 5-26 of 38 clinical categories), Extras Cover (dental, optical, physiotherapy and allied health services in Lite, Classic, Max, and Bundables tiers), and Overseas Visitor Health Cover (OVHC) for non-residents, available separately or as combined packages.

Product overview

Frank Health Insurance is an Australian not-for-profit health fund (brought to you by GMHBA Limited) offering simple, affordable private health insurance since 2009. The product portfolio consists of three core product lines: Hospital Cover (ranging from Basic Accident Boost through to Silver tier with 5-26 of 38 clinical categories), Extras Cover (including Lite, Classic, Max, and Bundables tiers), and Overseas Visitor Health Cover (OVHC). Hospital and extras products can be purchased separately or as combined packages. The company also provides a digital-first experience through its mobile app and Apple Wallet integration for digital member cards. All products emphasize provider choice, with no preferred network restrictions.

Differentiator

Problem solved

Functional benefit

Brands

• Frank Bundables: A range of extras cover designed to be easy, flexible, and shareable, allowing members to choose their own overall limit and spend across popular services.
• Frank Originals

Products and services

• Hospital Cover Private hospital insurance providing coverage for inpatient treatments in public and private hospitals, available in tiers from Basic Accident Boost through Bronze, Bronze Plus and Silver, each covering an increasing number of the 38 standard clinical categories.
• Basic Accident Boost Hospital Entry-level hospital cover providing accident protection and emergency ambulance services, designed primarily to exempt members from the Medicare Levy Surcharge at minimal cost.
• Basic Plus Hospital Entry-level hospital cover covering 5 of 38 clinical categories including dental surgery, gynaecology, joint reconstructions, and tonsils/adenoids/grommets.
• Bronze Hospital Affordable hospital cover with 18 of 38 clinical categories including brain and nervous system, digestive system, and ear/nose/throat services.
• Bronze Plus Hospital Enhanced bronze-tier hospital cover with 22 of 38 clinical categories including back, neck and spine, dental surgery, and lung and chest services.
• Silver Hospital Mid-tier hospital cover with 26 of 38 clinical categories including back, neck and spine, heart and vascular system, and hearing device implantation, with some key exclusions such as cataracts and joint replacements.
• Extras Cover Ancillary health insurance covering services not included in Medicare such as dental, optical, physiotherapy, and other allied health services, available in Lite, Classic, Max, and Bundables tiers.
• Classic Extras Everyday extras cover providing $600 for general dental, $200 for optical, and benefits for physiotherapy, psychology, and other allied health services with a choice of providers.
• Frank Bundables Flexible extras cover launched in 2026 with 50% back on included services, one shared annual limit across the membership, and unused limit rollover after 12 months of continuous cover.
• Frank Originals Extras cover featuring individual and grouped separate limits for included services either per person or per membership.
• Overseas Visitor Health Cover (OVHC) Health insurance specifically designed for international visitors to Australia, providing hospital and extras coverage during their stay to meet visa condition requirements.
• Silver Hospital and Max Extras Combined hospital and extras package pairing Silver Hospital cover with Max Extras, offering comprehensive coverage including $1,000 for major dental, $600 for orthodontics, and up to $250 back on optical.
• Bronze Plus Hospital and Lite Extras Combined cover pairing Bronze Plus Hospital with Lite Extras, offering coverage for back/spine issues, lung/chest conditions, dental surgery, with $400 for general dental and up to $100 back on optical.
• Basic Accident Boost Hospital and Lite Extras Combined cover pairing basic accident hospital protection with Lite Extras, providing accident protection, private emergency department coverage, and basic extras benefits starting from $23.00 per week.
• Frank Mobile App Mobile application enabling members to manage health insurance on the go through features including snap-and-claim photo uploads, Live Chat support, claims history, digital member cards, Apple Wallet integration, and biometric authentication (FaceID/TouchID). Available on iOS and Android.

Quantifiable outcome

• 4.2/5 stars rating on ProductReview.com.au demonstrating high customer satisfaction
• +4 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• GMHBA LimitedcoreOthersFrank Health Insurance is brought to you by GMHBA Limited. GMHBA is one of Australia's leading regional not-for-profit health insurers, caring for members since 1934. Frank operates as an online digital brand under the GMHBA group umbrella, benefiting from GMHBA's 90+ years of industry experience and infrastructure.
• Australian Health Service Alliance (AHSA)coreTechnology or IntegrationFrank participates in AHSA agreements covering more than 500 private hospitals across Australia. AHSA handles the administrative agreements with hospitals, allowing Frank members to access private hospital services with covered accommodation, theatre, delivery suite, intensive/coronary care, and related hospital services.
• smile.com.auminorStrategic or Co-development PartnerFrank has partnered with smile.com.au to provide dental savings for members. smile.com.au dentists reduce their fees by at least 15%, with over 4,000 approved dentists in the network across Australia. This partnership offers lower out-of-pocket costs for dental treatments.
• HICAPScoreTechnology or IntegrationFrank members can use their member card to claim on the spot at any HICAPS terminal. Frank participates in HICAPS Payments + Reconciliation solution and Claims Settlement Service (CSS) for HealthPoint claims, enabling real-time claim processing.
• Brisbane HeatminorGTM or Marketing PartnerFrank Health Insurance joined Brisbane Heat as the Official Health Insurance Partner for the Big Bash League season. This sponsorship provides brand exposure and marketing presence through cricket sporting events.
• Access Gap Cover (AHSA scheme)coreTechnology or IntegrationFrank pays inpatient medical benefits through the Australian Health Service Alliance's Access Gap Cover scheme, which provides higher benefits than the standard Medicare Benefits Schedule fee, helping reduce or eliminate out-of-pocket costs for inpatient hospital procedures.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Regional players

• HBF Health: Western Australia-focused not-for-profit health fund. Comparable mutual structure and product set to Frank/GMHBA, with similar regional-incumbent economics, though geographically concentrated in WA.
• St.LukesHealth: Tasmania-based not-for-profit health fund offering hospital, extras, and OVHC. Comparable mutual structure and product portfolio to Frank/GMHBA, with similar regional-incumbent dynamics, though smaller and geographically concentrated.

Broad incumbents

• HCF (Hospitals Contribution Fund): Australia's largest not-for-profit private health fund, with mutual structure similar in spirit to Frank/GMHBA. Comparable on product mix (hospital, extras, OVHC) and not-for-profit positioning, but at significantly greater scale.
• Australian Unity: Australian mutual offering private health insurance alongside broader wellbeing and banking services. Comparable hospital and extras product set to Frank, with similar mutual/retail positioning but a wider portfolio.
• Bupa Australia: Major Australian PHI (subsidiary of global Bupa), offering hospital, extras, and OVHC with a broad retail and corporate footprint. Overlaps with Frank on every product line but serves a wider customer base and tier mix.
• Medibank Private: Largest Australian private health insurer, operating across hospital, extras, and OVHC with both retail and corporate channels. Directly comparable product set but materially larger scale and broader tier coverage than Frank.

Direct peers

• Teachers Health: Restricted-membership Australian not-for-profit PHI (serving education sector). Comparable on mutual structure, hospital/extras product mix, and retail-direct distribution to a defined customer base, though membership is restricted.
• HIF (Health Insurance Fund of Australia): Smaller Australian not-for-profit PHI offering hospital and extras cover with a digital-first, value-oriented proposition. Closest peer to Frank by scale, mutual status, and target value-conscious consumer.
• NIB Holdings: Listed Australian private health insurer with a strong direct-to-consumer and digital orientation. Highly comparable to Frank in target customer (value-seeking individuals/families) and distribution model, though larger and for-profit.

Others

• GMHBA Limited: Parent/underwriter of Frank Health Insurance and itself a regional Australian not-for-profit PHI with 90+ years of history. Directly comparable in product, regulatory positioning, and not-for-profit economics; Frank is effectively a digital sub-brand of GMHBA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/frankhealthinsurance
• Facebookfacebook.com/frankhealthinsurance
• Instagraminstagram.com/frankhealthinsurance
• Xx.com/yayfrank
• LinkedInlinkedin.com/company/frank-health-insurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Frank Health Insurance