Health Insurance Fund of Australia

What Health Insurance Fund of Australia does

Health Insurance Fund of Australia (HIF) is an Australian not-for-profit, member-owned private health insurer founded in 1954 and headquartered at 100 Stirling Street, Perth. The company offers tiered hospital cover (Basic Plus through Gold Top), extras cover (dental, optical, physio, chiro, osteo, mental health), combined and packaged products, ambulance-only cover, overseas visitors cover, and corporate group plans. Travel insurance is distributed through a partnership with Allianz Global Assistance. Revenue is generated primarily through recurring subscription premiums paid via fortnightly, monthly, quarterly, six-monthly, or annual direct debit, with prepayment discounts (4% annual, 2% six-monthly) and rebates layered on top. Pricing varies by state, age, income tier, and excess level, and is influenced by Australian Government Rebate on Private Health Insurance and Lifetime Health Cover loading rules.

HIF operates a multi-channel distribution model combining direct-to-consumer digital self-service (website quote tool, Online Member Centre, mobile app v4.2.0+, phone sales at 1300 134 060), broker and intermediary channels, corporate and association partnerships (Australian Nursing Federation, Australian Dental Association), and sports club affiliations (Perth Wildcats Diamond partner since 2013 with a 12% member discount; West Perth Football Club from 2025 with an 8% discount and naming rights to HIF Health Insurance Oval). The technology stack centres on a private health insurance claims platform with HICAPS eClaiming at point of service, AccessGap covering 30,000+ doctors across 111,322 locations, Choice Network for no-gap dental, and Teladoc Health-powered Second Opinion and Virtual Care services. Additional programs include SkinVision skin monitoring, Little Green Pharma medicinal cannabis benefits with the QUEST research initiative, St John Urgent Care access for WA members, and a $70 eftpos-card referral reward program. The company is governed as a member-owned fund and is a signatory to the Private Health Insurance Code of Conduct.

Name

Health Insurance Fund of Australia

Legal name

Health Insurance Fund of Australia Limited

Website

https://hif.com.au

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

51–100 employees

Short description

Health Insurance Fund of Australia is a Perth-based, not-for-profit private health insurer offering hospital, extras, ambulance, overseas visitor, and corporate cover to Australian individuals, families, and groups, with travel insurance distributed via Allianz and digital self-service tools.

Ownership category

akta.pro rank

Product category

Private Health Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Accident & Health Insurance (6321)

akta.pro primary industry

Large Group Health Insurance (Mid-Market & National Accounts) (FSAIAFAE)

Keywords

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

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Private Health Insurance Premiums: HIF generates primary revenue from private health insurance premiums paid by members for Hospital Cover, Extras Cover, Combined Cover, Packaged Cover, and Ambulance Only policies. Premiums are collected through fortnightly, monthly, quarterly, six-monthly, or annual direct debit or upfront payment. The company offers prepayment discounts (4% for annual, 2% for six-monthly) and is subject to Australian Government Rebate on Private Health Insurance.
2. Travel Insurance: Travel insurance products offered through Allianz Global Assistance partnership. HIF acts as an intermediary offering travel cover to members and the public.
3. Corporate Health Plans: Corporate health insurance arrangements provided to employers with group discounts and payroll deduction options.
4. Overseas Visitors Cover: Health insurance specifically designed for overseas visitors to Australia, providing hospital and medical coverage during their stay.
5. Member Referral Rewards: HIF pays $70 eftpos cards to existing members who refer new members to the fund. This referral program incentivizes member-to-member acquisition.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels10 records

Core offering

HIF underwrites and distributes private health insurance to Australian individuals, families, and corporate groups, offering Hospital Cover (tiers from Basic Plus to Gold Top), Extras Cover (dental, optical, physio, chiro, osteo, mental health), Combined/Packaged Cover, Ambulance Only Cover, Overseas Visitors Cover, Corporate Cover, and Travel Insurance (via Allianz Global Assistance). Members are serviced through digital self-service platforms including the HIF Member App, Online Member Centre, HICAPS eClaiming, and Teladoc Health-powered Virtual Care and Second Opinion services.

Product overview

HIF (Health Insurance Fund of Australia) is a not-for-profit private health insurer offering a comprehensive portfolio of health insurance products. The core offering consists of Hospital Cover (tiered from Basic Plus through Gold Top), Extras Cover (from Basic to Top), and Combined Cover policies combining both. Additional products include Ambulance Only Cover, Overseas Visitors Cover, Corporate Cover, and Travel Insurance. The company provides digital service platforms including the HIF Member App (v4.2.0+), Online Member Centre, and Virtual Care services powered by Teladoc Health. Specialty offerings include the Second Opinion service, SkinVision skin health monitoring, Choice Network dental providers, and medicinal cannabis benefits through Little Green Pharma and the QUEST Initiative research program. Members can submit claims via HICAPS eClaiming, Fast-Track email submission, the mobile app, or mail, with Direct Credit payments for quick rebate turnaround.

Differentiator

Problem solved

Functional benefit

Products and services

• Hospital & Extras Combined Cover
• Packaged Cover
• Hospital Cover
• Extras Cover
• Ambulance Only Cover
• Overseas Visitors Cover
• Corporate Cover
• Travel Insurance

Quantifiable outcome

• Up to 2 no-gap scale and cleans annually through Choice Network
• +6 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered core, minor and flagship.

• West Perth Football ClubcoreGTM or Marketing Partner · 1 January 2025Three-year partnership starting 2025 with naming rights to HIF Health Insurance Oval. Includes fan days, sponsored games (Pride game), health and wellbeing sessions. West Perth Falcons members receive 8% discount on health cover.
• Waalitj FoundationcoreStrategic or Co-development Partner · 1 January 2025Aboriginal Community Controlled Organisation supporting education, employment, and business opportunities for Aboriginal and Torres Strait Islander Australians. Partnership supports Deadly Sista Girlz (DSG) Program improving school attendance and educational outcomes for First Nations girls.
• Allianz Global AssistancecoreChannel Partner/ Reseller/ Distributor · 1 January 2022HIF's travel insurance has been offered through Allianz Global Assistance since 17 August 2022. Previous provider Cover-More continues to assist with policies issued before that date.
• St John Urgent CarecoreStrategic or Co-development Partner · 1 January 2021Partnership with St John WA to support critical gaps in accessible healthcare services. Eligible HIF members can access urgent medical care at St John Urgent Care Centres in WA without visiting emergency departments and without fees for urgent care consultations.
• SportFMminorGTM or Marketing Partner · 1 January 2021Perth-based community radio station (91.3) covering local and elite Australian sports. HIF sponsors 'At the Top of Her Game' podcast hosted by Bonnie Raynor spotlighting inspiring female athletes.
• Little Green PharmacoreStrategic or Co-development Partner · 1 January 2020Leading global medicinal cannabis business pioneering Australian-grown, manufactured and exported medicinal cannabis. HIF funds the QUEST research initiative demonstrating scientific evidence of medicinal cannabis impacts on health conditions. HIF was first major Australian health fund to support medicinal cannabis access.
• Members Health Fund AlliancecoreStrategic or Co-development Partner · 1 January 2018Association of private health insurance funds committed to putting members' health and wellbeing before profit. HIF collaborates with like-minded not-for-profit and member-owned funds to deliver better outcomes for members.
• Teladoc HealthcoreTechnology or Integration · 1 January 2018Provides HIF Second Opinion service and Virtual Care platform. World-renowned specialists review medical conditions and provide second opinions for diagnosis and treatment options. Also provides Mental Health Navigator service.
• Australian Health Service Alliance (AHSA)coreTechnology or Integration · 1 January 2018Provides hospital search functionality and provider network access for HIF members. HIF participates in Voice of the Patient survey conducted by AHSA for quality improvement.
• HICAPScoreTechnology or Integration · 1 January 2018Enables instant on-the-spot claiming for Extras services through HICAPS terminals at healthcare providers across Australia.
• Perth WildcatsflagshipGTM or Marketing Partner · 1 January 2013HIF has been Diamond partner since 2013, making it the longest recognised partnership in the NBL. Partnership includes game night activations for Pride round supporting LGBTQIA+ community. Perth Wildcats members receive 12% discount on health cover. Offer period 1 July 2025 - 30 June 2026.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• HCF (Hospitals Contribution Fund of Australia): Australia's largest not-for-profit private health insurer, also a member of the Members Health Fund Alliance. Closest structural and philosophical peer to HIF given its mutual, member-focused model and similar product portfolio spanning Hospital, Extras, and corporate cover.
• HBF Health: Western Australia-based not-for-profit private health insurer and member of Members Health Fund Alliance. Directly comparable to HIF on geography, mutual structure, and product breadth, making it the most head-to-head competitor in HIF's home market.
• CBHS Health Fund: Not-for-profit private health insurer for current and former employees of BHP and associated companies. Comparable mutual model and product portfolio to HIF within a restricted membership base.
• GMHBA: Regional not-for-profit private health insurer based in Victoria, also a member of the Members Health Fund Alliance. Comparable mutual structure and product mix; regional focus mirrors HIF's WA concentration.
• Teachers Health Fund: Not-for-profit private health insurer restricted to education-sector members. Comparable mutual structure and product portfolio; its restricted-membership model is a useful contrast to HIF's open membership approach.
• Australian Unity: Member-owned Australian mutual offering private health insurance alongside broader wellbeing services. Closely comparable to HIF on mutual, member-owned structure and product breadth, with deeper diversification into banking and aged care.

Others

• Allianz Global Assistance Australia: Travel insurance underwriter and partner of HIF since August 2022. Adjacent rather than competitive, but a critical enabling partner that ships HIF's travel insurance product and serves as a useful channel and capability reference point.

Broad incumbents

• NIB Health: ASX-listed Australian private health insurer focused on individual and corporate cover. Operates a similar multi-channel acquisition model including direct-to-consumer and is materially larger than HIF.
• Bupa Australia: Largest private health insurer in Australia by membership and a major incumbent in Hospital and Extras cover. Comparable product portfolio but operates as a commercial entity with a broader footprint than HIF.
• Medibank Private: ASX-listed major Australian private health insurer offering Hospital, Extras, and corporate cover to a national membership base. Comparable products and channels but materially larger scale than HIF.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hifaustralia
• LinkedInlinkedin.com/company/health-insurance-fund-of-australia-hif-
• Instagraminstagram.com/hif_australia
• Xx.com/HIF_Australia

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 Health Insurance Fund of Australia