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HCF Delivers Record Member Value and Builds for the Future

HCF

Key Facts:

FY26 highlights included:

·         $3.95 billion paid in hospital and extras benefits, up 10.5%.

·         More than 857,000 hospital services, 6.7 million medical services and 12.4 million extras services covered.

·         27,050 members supported through HCF’s health and wellbeing programs and services, up 12%.

·         97% of medical services covered in hospital had no gap or a known gap.

·         2.9 million dental services covered with no gap through HCF’s More for Teeth program.

·         Membership grew by 3.9%, compared with industry growth of 2.1%.

·         Ranked equal No. 1 in member satisfaction among major health funds².

·         Named Australia’s most trusted private health insurance brand for 2025 by Roy Morgan.

·         Awarded Canstar’s Outstanding Value Award for Health Insurance for the 11th consecutive year.

·         $4.1 million invested in research in FY26 as the HCF Research Foundation marked its 25th anniversary, taking total investment since 2000 to $40.5 million across more than 170 research projects.

THURSDAY, 5 NOVEMBER 2026: HCF, Australia’s largest not-for-profit health fund, paid a record 90.5 cents in member benefits for every dollar received in health premiums in FY26, compared with an industry average of 85.4 cents¹, reaffirming its commitment to delivering greater value for members.

Hospital and extras benefits reached $3.95 billion, 10.5% more than the previous year, while membership grew 3.9% compared with industry growth of 2.1%.

“As a member-owned organisation, our purpose has always been about people and every decision we make starts with creating value for our members,” HCF Chief Executive Officer and Managing Director Lorraine Thomas said.

“This year, that commitment delivered our strongest result yet, with 90.5 cents in benefits returned for every dollar received in premiums. For hospital cover, the return was even higher at 92.9 cents per premium dollar.”

With no profits paid to shareholders, HCF can reinvest in better value, care and experiences for the 2.15 million Australians it covers. Over the past decade, HCF has consistently returned more in benefits for every premium dollar received than the industry average.

“At a time when cost-of-living pressures continue to affect Australian households, keeping quality healthcare within reach remains one of the most important ways we support members,” Lorraine Thomas said.

“We continued to make it easier for members to understand, compare and access healthcare services, helping them make informed choices and reduce the cost of care.”

Prevention and earlier intervention remained a priority during FY26. Through HCF’s partnership with the Victor Chang Cardiac Research Institute, 8,210 Heart and Diabetes Health Checks were delivered to members across Australia, with 64% referred to a GP for elevated risk factors.

Major partnerships extended HCF’s social impact, with the Royal Flying Doctor Service helping improve healthcare access in rural and remote communities and The Smith Family supporting young Australians experiencing disadvantage.

FY26 also marked the launch of HCF’s 2030 Strategy, focused on delivering the best value protection in Australia, driving sustainable net member growth and innovating and leading through change.

“Our 2030 Strategy sets a clear direction for HCF’s future,” Lorraine Thomas said.

“We have a confident vision for the future and strong foundations from which to grow. Our focus is on sustainable growth that balances affordability with financial strength, so we can continue delivering greater value, support and care for members over the long term.”

“For more than 94 years, HCF has proudly served the Australian community. As Australia’s largest not-for-profit, member-owned health fund, we remain focused on what matters most: helping people live healthier lives, delivering greater value from their cover, and providing the Uncommon Care our members deserve.”

Read HCF’s FY26 Year in Review at Annual report | HCF

ENDS

¹ HCF paid 90.5 cents in member benefits for every dollar received in health premiums in FY26, compared with an industry average of 85.4 cents. Industry comparison sourced from APRA Quarterly private health insurance statistics, covering July 2025–June 2026.

² Equal No. 1 for Member Satisfaction in FY26 (very satisfied with provider) alongside major competitors. Consumer survey conducted by a specialist research organisation on behalf of HCF, May 2026.

 

About us:

HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers more than 2.1 million members with health and life¹ insurance, travel², pet ³, home⁴, landlord⁴ and car insurance⁴. HCF has been awarded Outstanding Value Health Insurance by Canstar eleven years in a row from 2016-2026. On average over the last 10 years, HCF has paid out more cents in every dollar in premiums on its health insurance products to members as benefits than the industry average^*. To learn more about HCF go to hcf.com.au/about-us  

^*88.9% compared to 84.9% across the industry. Calculated based on the average of the past 10 years, sourced from APRA Annual Private Health Insurance Performance Statistics report data 2016–25 and Quarterly Private Health Insurance Statistics Jul 2025–Jun 2026.

¹ Issued by HCF Life. Consider the PDS and TMD at hcf.com.au/lifeinfo

² HCF Travel Insurance is arranged and managed by AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 trading as Allianz Global Assistance for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Terms, conditions, exclusions, limits and applicable sub-limits apply. Please consider the PDS at hcf.com.au/travel and TMD at allianzpartners.com.au/policies before deciding whether to buy the product.

³ HCF Pet Insurance is issued by PetSure (Australia) Pty Ltd, except for policies entered into before 21 March 2024 and subsequent renewals of those policies, which are issued by The Hollard Insurance Company Pty Ltd. Consider the PDS and TMD at hcf.com.au/petinsurance before deciding if the product is right for you.

⁴ Issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708. Consider the PDS for Home insurance at hcf.com.au/home, for HCF Landlord insurance at hcf.com.au/landlord and for HCF Car insurance at hcf.com.au/car, and TMDs which are available for HCF Home insurance and HCF Landlord insurance here and for HCF Car insurance by calling 1300 657 046, before deciding if the product is right for you.

Contact details:

Joni Thomes 0475 576 738 or [email protected]