Lexi Webster
The Hospitals Contribution Fund of Australia, commonly referred to as HCF, is an Australian private health insurer. HCF is headquartered in Sydney, New South Wales, and was founded in 1932. It is the third-largest health insurance company by market share and is the largest not-for-profit health fund in Australia. HCF provides private health insurance cover for a full range of health services, including pet insurance, travel insurance, and life insurance.
| Characteristics | Values |
|---|---|
| Name | The Hospitals Contribution Fund of Australia |
| Headquarters | Sydney, New South Wales |
| Year founded | 1932 |
| Type of company | Not-for-profit health fund |
| Ranking | Third-largest health insurance company by market share |
| Number of members | Almost 1.9 million |
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What You'll Learn
HCF is Australian-owned
HCF, or The Hospitals Contribution Fund of Australia, is an Australian private health insurer. It was founded in 1932 as the Metropolitan Hospitals Contribution Fund of New South Wales, and in 1967 changed its name to The Hospitals Contribution Fund of Australia. HCF is headquartered in Sydney, New South Wales, and has branch offices in Melbourne, Brisbane, and Hobart.
HCF is the third-largest health insurance company in Australia by market share and is the largest not-for-profit health fund in the country. HCF provides private health insurance cover for a full range of health services, including pet insurance, travel insurance, and life insurance.
HCF was the first health fund to establish and operate its own Life Insurance (Recover Cover) business in 1980. In 1975, it introduced the Multicover Plan, becoming the first fund to cover the medical 'gap' for a wide range of healthcare services like dental, eye care, and physiotherapy.
HCF is proudly owned and run by Australians, with award-winning local call centres and branches across the country. It is part of the Members Health Fund Alliance, Australia's largest voice for not-for-profit, member-owned, regional, and community-based health insurers. HCF acknowledges the traditional custodians of the lands and waters upon which they work and live and recognises the rich history of Aboriginal and Torres Strait Islander peoples as traditional healers and scientists.
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HCF is a not-for-profit health fund
HCF, or The Hospitals Contribution Fund of Australia, is an Australian private health insurer. It was founded in 1932 as the Metropolitan Hospitals Contribution Fund of New South Wales, and in 1967 changed its name to the Hospitals Contribution Fund of Australia. It is headquartered in Sydney, New South Wales, and has branch offices in Melbourne, Brisbane, and Hobart. HCF is Australia's largest not-for-profit health fund, with almost 1.9 million members according to the Australian Prudential Regulation Authority (APRA).
As a not-for-profit health fund, HCF's structure ensures that members' needs are always put first. This means that the fund works for its members, not shareholders. HCF provides private health insurance cover for a full range of health services, including pet insurance, travel insurance, and life insurance.
HCF was the first health fund to establish and operate its own Life Insurance (Recover Cover) business in 1980. In 1975, it was also the first fund to cover the medical 'gap' for a wide range of healthcare services, including dental, eye care, and physiotherapy. HCF introduced its Multicover plan in 1975, providing cover for the medical 'gap' (the difference between the Medibank benefit and the Schedule Fee) and a range of other healthcare services not covered by Medibank, such as dental, optical, physiotherapy, home nursing, and overseas health care.
HCF is part of the Members Health Fund Alliance, Australia's largest voice for not-for-profit, member-owned, regional, and community-based health insurers. The Members Health Fund Alliance is committed to putting people and their health before profit. HCF also invests in healthcare innovation through the HCF Research Foundation and HCF Catalyst, an accelerator program that helps turn health technology start-ups into viable businesses.
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HCF's history
HCF, short for The Hospitals Contribution Fund of Australia, is an Australian private health insurer headquartered in Sydney, New South Wales. It is one of the country's largest combined registered private health funds and life insurance companies. HCF is the third-largest health insurance company by market share and is the largest not-for-profit health fund in Australia.
HCF was founded in 1932 as the Metropolitan Hospitals Contribution Fund of New South Wales. In its first two years, more than 100,000 members joined the fund. In 1941, HCF moved to its first "home-of-its-own" on Hamilton Street in Sydney. During World War II, an air-raid shelter was built in the basement of HCF House, and the entire male staff of 24 was formed into a voluntary patrol to protect the building.
In 1964, HCF upgraded its administrative procedures by installing its own computer and introducing electronic data processing as an integral part of its operations. In 1965, the company expanded its operations to Victoria to assist fund contributors throughout Australia. By 1967, HCF had changed its name to The Hospitals Contribution Fund of Australia and established branch offices in Melbourne, Brisbane, and Hobart.
In 1975, HCF introduced its Multicover plan, providing cover for the medical "gap" and a wide range of other healthcare services, such as dental, optical, physiotherapy, home nursing, and overseas health care. In 1980, HCF became the first health fund to establish and continue to operate its own Life Insurance (Recover Cover) business.
Today, HCF provides private health insurance cover for a full range of health services, including pet insurance, travel insurance, and life insurance. With almost 1.9 million members, HCF is committed to putting people and their health before profit, championing all Australians' health, and investing in healthcare innovation.
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HCF's headquarters
The Hospitals Contribution Fund of Australia, commonly referred to as HCF, is an Australian private health insurer. It is headquartered in Sydney, New South Wales, and was founded in 1932. HCF is the third-largest health insurance company by market share and is the largest not-for-profit health fund in Australia.
In 1941, HCF moved to its first permanent location on Hamilton Street in Sydney. The building was named MHCF House and has since been demolished to make way for a high-rise development. During World War II, an air-raid shelter was built in the basement of the building, and it was patrolled day and night by 24 staff volunteers.
In November 1975, HCF's head office staff moved into new premises at 403 George Street in Sydney. The building has since been extended to accommodate additional staff and facilities.
HCF has established branch offices in Melbourne, Brisbane, and Hobart as part of its expansion plan to assist fund contributors throughout Australia. The company's commitment to its members is evident in its structure and operations, with a focus on providing comprehensive health support and improving healthcare affordability for all Australians.
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HCF's insurance policies
The Hospitals Contribution Fund of Australia, commonly referred to as HCF, is an Australian private health insurer headquartered in Sydney, New South Wales. It is one of the country's largest combined registered private health funds and life insurance companies. HCF is the third-largest health insurance company by market share and the largest not-for-profit health fund in Australia.
HCF provides private health insurance cover for a full range of health services, including hospital, extras, and ambulance cover for singles, couples, and families. The company also offers Overseas Visitors Health Cover (OVHC) for those visiting Australia.
HCF's Multicover Plan, introduced in 1975, was the first fund to cover the medical 'gap' for a wide range of healthcare services, including dental, optical, physiotherapy, home nursing, and overseas health care. The company continues to offer comprehensive health support and a range of treatment options, including telehealth services for eligible members.
In addition to health insurance, HCF offers life insurance, travel insurance, and pet insurance. HCF Life Protect Insurance provides financial support during life's unexpected challenges, and applicants are asked about their health, lifestyle, and other factors to determine the terms and conditions of their cover. HCF Travel Insurance covers delayed luggage, overseas medical emergencies, and more.
HCF Pet Insurance policies are issued by The Hollard Insurance Company Pty Ltd and arranged and administered by PetSure (Australia) Pty Ltd. All HCF members are eligible for a member discount of at least 10% on HCF Pet Insurance.
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Frequently asked questions
Yes, HCF is proudly owned and run by Australians.
HCF stands for The Hospitals Contribution Fund of Australia.
HCF was founded in 1932 as the Metropolitan Hospitals Contribution Fund of New South Wales.
HCF is a private health insurance company, providing health insurance cover for a full range of health services.
Yes, HCF is a not-for-profit health fund, and is the largest not-for-profit health fund in Australia.
