Members Health Fund Alliance

Members Health funds provide a growing 5.3 million Australians with timely access to high quality care, when and where they need it with a doctor of choice. The 24 health insurance funds with Members Health are not-for-profit or part of a member owned group, regional or community based. All share an unwavering commitment to the not-for-profit and member owned ethos of putting people before profits. Some of the Members Health funds rank among the country’s largest health insurers, while others serve small tightknit communities, are vital employers, investors and providers of health services in regional centres. To read about the economic impact of the sector follow the link: https://lnkd.in/gW57RcKE

Our member funds make a big impact to the lives of Australians.  They put people before profits, meaning they don't have to generate profits for shareholders or overseas investors, allowing them to give back more in benefits and maintain an unwavering consumer focus. They also make a sizeable contribution to the Australian economy. With $21.8 billion contributed towards GDP and 155,000 jobs facilitated.  The quantification of economic activity attributable to the operation of Members Health funds is based on the direct effects of both the operation of the funds themselves as well as the impacts of the follow-on impact of fund operations. Our approach to economic contribution quantification assesses measures such as contribution to output, GDP and employment associated with the Members Health funds portion of the private health insurance industry. To read the full findings, find the report at https://lnkd.in/gW57RcKE Finity #peoplenotprofit #notforprofit #memberowned #healthinsurance

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The ‘Economic and Social Impact of the Members Health funds of Australia’ shows not-for-profit and member-owned health insurers serve over 5.3 million people, including more than 1.1 million across our regional and remote areas. Accounting for 80% of funds in the market, the 24 insurers contribute over $21.8 billion per annum to GDP, over 155,000 direct and indirect jobs, provide access to 6.4 million hospital bed days, 510,000 elective surgeries, and 37.8 million extras services. “From Australia’s earliest beginnings, not-for-profit and member-owned health insurance funds have stood alongside families – from the cities to our regional and remote areas – playing a vital role in healthcare delivery and the nation’s economic and social wellbeing,” Matthew Koce, CEO of Members Health said. “Good health is fundamental to productivity, wellbeing and economic prosperity. Australia’s private healthcare system is the envy of the world, but given cost of living pressures and long public hospital waits, there is an immediate imperative to further improve affordability, accessibility and consumer empowerment for Australian families.” Thank you to Finity for their assistance in highlighting these important findings. #privatehealth #economicimpact #membershealth #peoplebeforeprofits #memberowned #notforprofit https://lnkd.in/gW57RcKE

Proud to continue to bring awarness to the not-for-profit and member owned health insurance sector with a new series of ads. The creative puts a spotlight on some of the people our funds are run for. Run for people, not profits.

Thrilled that Members Health funds have given $1.323 billion back to members since COVID-19.

Check out Members Health Fund Alliance's Op Ed in the The Australian Financial Review review today on the topic of private hospital viability. As our CEO Matthew Koce states, the bottom line is that Australia's private hospital landscape is evolving, not collapsing as some private hospitals operators would you have you believe. Instead, private hospitals need to adapt and foster innovation which will ultimately lead to a more efficient and competitive health system. Members Health welcomes the Federal Government's “financial health check” review to kickstart this conversation. Let's work together to make Australia’s healthcare system more robust and agile while prioritising the health of all Australians. #memberowned #peoplenotprofits #healthinsurance #healthcare #healthfund #mhfa #auspol #hospital

Westfund Health Insurance's substantial contributions to their members and the local region have been acknowledged by being named Western NSW's Business of the Year. Congratulations to the team for their dedication to enhancing the health and well-being of their members and the communities they serve. We are proud to see our not-for-profit, member-owned funds recognised for their commitment to putting people before profits.

Congratulations to CBHS Health Fund Limited and Teachers Health for their excellent results in the Mozo People's Choice Awards. Both funds put people before profits and jointly won the outstanding customer satisfaction, excellent claims experience, and most recommended categories. #memberowned #notforprofit #peoplenotprofits #healthinsurance #healthcare #healthfund #mhfa #customerchoice #customerawards

Money Magazine are on the money with their quote “..not-for-profit funds tend to pay out a bigger percentage in benefits as a proportion of premiums that for profit funds" --- Not for profit and member owned health funds can represent excellent value for money. They don’t have to generate large profits for shareholders or overseas investors. That means they can give more back to policyholders in benefits than would otherwise be the case. To find more information: https://lnkd.in/g_JeECmk Members Health Fund Alliance #memberowned #notforprofit #peoplenotprofits #healthinsurance #healthcare #healthfund #mhfa #auspol