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HCF Health insurance

HCF Health insurance

HCF is the oldest of the ‘Big Four’ Australian health funds. But the magnificent thing about these ‘Big Four’ funds was that they were all originally set up as not-for-profit organisations. 

Each fund ploughed profits back into the business, to generate more benefits for members. This thoroughly decent principle is called ‘mutuality’: the fund is run for the mutual benefit of all members. 

In other words, people are more important than profits. 
It’s a noble ethic. But times change. It’s different now. Today we live in a profit-driven, global financial world. 

In recent years, we’ve seen a number of health funds relinquish their not-for-profit status. Three of the ‘Big Four’ health funds in Australia have changed in this way, with one of the ‘Big Four’ changing its name to reflect its overseas owner. So the operating principle and guiding ethic of three of the four major Australian health funds is no longer mutuality. 
HCF has always operated on the principle of mutuality and still does.

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