HCF is a not-for-profit health fund that was created in 1932. It is one of Australia’s largest funds that combines provision of private health cover with life insurance and is notable for being in a minority of large health funds that permit contributors to vote for Directors to the Board.
HCF gained its current name in 1967. Prior to that, it was known as the Metropolitan Hospitals Contribution Fund. HCF now has branches in Victoria, Queensland, New South Wales, South Australia and Australian Capital Territory.
The fund provides health cover for private hospital admissions, nation-wide ambulance cover and ancillary services. HCF provides health care services and benefits to an excess of 1 million Australians and life insurance to more than 386,000 subscribers.
HCF established a wholly-owned subsidiary, HCF Life Insurance Pty. Ltd., in 1982 and the HCF Health and Medical Research Foundation in 2002. The not-for-profit trust was established to encourage medical research and studies on Australian health services to benefit the general public.
This article is opinion only and should not be taken as financial advice.
Filed Under: Industry News