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Why Choose a Member-Owned Fund?

13 July, 2015
Member Owned Fund

Let’s start at the beginning:

Why do you need private health insurance?

Private health insurance offers peace of mind for members and policyholders when it comes to health care, and helps to take the pressure off the government-funded Medicare system. Through private health insurance you can choose your doctor, the hospital, timing of the procedure, and the type of room you want. It gives you access to more than 500 hospitals Australia wide, and means you can be covered for things that Medicare doesn’t generally cover, such as dental, physiotherapy, optical, chiropractic, ambulance and podiatry.

Ultimately, private health insurance means you’re covered in the event of illness, injury, or other unforeseen circumstances.

Taking private health cover out for the first time

If you’re new to private health insurance, research is the key to finding a great policy. It’s also wise to have a clear understanding of the types of cover available, from top (all services where Medicare pays a benefit), medium (some exclusions), and basic (further exclusions). There is also Extras cover to consider, which covers things like Optical, Dental and Physiotherapy services.





The cost of health care in Australia is increasing. Medical procedures are becoming more complex, extensive research means that treatment is improving, and medical equipment is advancing. Better treatment of illnesses and generally better quality of life means that Australians are living longer, and therefore making more claims as they 

Health funds must notify their members each time their cover is altered, or their premiums are adjusted.  Many policy holders take this opportunity to review their health cover and insurer, to ensure they are receiving the best possible cover and benefits from their fund.

If you compare covers from the for-profit funds with a member-owned funded such as CBHS, you’ll notice that member-owned fund policies are more competitive. That’s because member-owned funds, like CBHS, exist solely to benefit their members. 

Why are member-owned funds better?

Member-owned health funds are run to benefit members

The majority of member-owned health funds are not-for-profit, and don’t have investors or overseas owners. The sole reason for their existence is to provide high-quality service and give more back to their members. If you’re currently with one of the larger for-profit funds, a percentage of your premiums is going back to its investors instead of being pumped back into your fund to make it stronger and better.

Member-owned health funds have members, not policyholders

As part of a member-owned health fund, you’re not just a number. CBHS treats all members equally – as individuals with health needs who deserve great service and care. All of the premiums that members put into CBHS are reinvested into our business to provide you with better benefits and service at a value price.

CBHS is a restricted, community-based fund

Most member-owned funds are open to anyone, but if you’re lucky enough to gain access into the handful of specifically designed health funds such as CBHS (available only to current or former employees, contractors and franchisees of the Commonwealth Bank of Australia Group, their partners and family members) you can expect even greater benefits for your dollar.





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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

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