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Not-For-Profit: How We Help You for Less

09 October, 2014

CBHS is a not-for-profit insurance fund that was set up for the sole-purpose of serving its members. Unlike traditional commercial insurers, CBHS is not profit motivated.

CBHS’s member focus ensures that the company delivers exceptional service to its members.

Not-for-profits vs commercial insurers

Non-profit or not-for-profit entities differ from commercial entities in many ways. While the central goal of commercial entities is to increase profits, not-for-profit organisations exist for other reasons.

In not-for-profit organisations, resources are geared toward goals other than the bottom line. In CBHS, the central goal is to service our members and improve members’ satisfaction and offer greater benefits and thus value in the context of health insurance.

Key benefits to using CBHS

1. Member satisfaction

CBHS is exclusively available to former and current employees of the Commonwealth Bank group and any eligible family members. Our not-for-profit commitment means we prioritise member satisfaction in everything we do.

One of the ways we have endeavoured to do so is by setting up a user-friendly website filled with useful, practical information for members. Members can update their membership, tax file number and other details through their online portal, as well as search for service providers.

We also pay quickly. Claims can be processed on the spot through certain providers or submitted via email, web form, fax or post. Members can expect to have their claims processed within five days in most cases.

For every dollar of premium received, CBHS aims to give back 92 cents by way of benefits, a rate which is among the highest in the industry. In addition to maintaining a very lean profit margin of less than two per cent, our management costs are much lower than the industry average. The result is that members get more in return for their insurance premium.

2. National coverage

CBHS has developed private hospital agreements and relationships health services and hospitals around Australia. We offer national coverage for private hospitals around the country, so our members can rest assured that they will usually be able to use their preferred private hospital.

3. Established fund

CBHS has a long history of providing superior benefits to members, with more than 60 years of operation. The fund has demonstrated reliability and consistency for members throughout the decades.

Please visit CBHS’s website to find out more about our services and policies for our members.

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What Our Members Think

I joined as a CBHS member in 1978. Through many health events and challenges CBHS has always been there for me and my family. Their exceptional service over this time has always been appreciated.

- Jenny J

What Our Members Think

I've not long joined CBHS from another fund, but so far I've been impressed by the super helpful and friendly staff, the higher claim limits and rebates at a very competitive premium, and how easy it is to lodge manual claims through the app. Thanks CBHS - you've won me over! 😃

- Jessica B

What Our Members Think

What I love about CBHS is their customer service - friendly staff and always ready to help and email you the information you ask about. Keep up the great work!!!

- Linda S

What Our Members Think

I love CBHS as its so so easy to lodge a claim and whenever i need a question answered friendly consultant is one phone call away. The phone back option instead of waiting is brilliant!

- Rachel N

What Our Members Think

I have been with CBHS since I began at CBA 15 years ago...Now I have three beautiful children, one who has a disability. Our top extras cover has been really essential for his early intervention. I do love the ease of claiming online.

- Annette E

What Our Members Think

I am relatively new to CBHS and am loving it already. I worked for a CBA subsidiary a long time ago but was still eligible to join. So much better that the for-profit funds - our premium is only a little more and we pay a lower co-contribution and get great benefits. I am loving the massage rebate for my partner and gym rebate for me!

- David G

What Our Members Think

I'm extremely happy with CBHS! I have been a customer for about six years. I think the price is reasonable. And i would refer you to my family and friends any day. Thank you CBHS!!!

- Karen W

What Our Members Think

Love CBHS as I never have to doubt that they've got my back when I need it. Been through other insurers who have limited options or limits, yet cost the same or more.

- Mark F