HBF & HCF customers pledged savings in health insurance merger

WA's largest health insurer HBF is merging by east Beach giant HCF & pledging customers going to be the large winners. After an $18-mn operating loss final year, HBF, that holds 54 % of the WA market, is Guessed to finalise a $four-bn bargain by Sydney-based HCF. Together the providers going to have two,500,000 members, forming the country's 3rd-largest health insurer, behind Bupa & Medibank Private. The merger is Guessed to be finalised mid-year, by the companies to retain their individual identities at least to begain by. "We both talked about national expansion & rather than compete versus each other as not-for-profits, putting the two together, provides our members around Australia by better advantages," said Mr Van Der Wielen.

HBF to integrate by HCF in $four bn health insurance bargain

HBF to integrate by HCF in $four bn health insurance dealUpdatedWestern Australia's largest heath insurer, HBF, tells a planned merger by a large not-for-profit health fund on the east Beach of Australia going to make the Inc. 1 of the nation's biggest health funds. HBF is planning to integrate by Sydney-based HCF that would give the combined companies further than two.five mn customers & total assets of $four bn. The merger, if successful, going to make the combined HBF & HCF the nation's 3rd biggest health insurer, behind Bupa & Medibank Private. HBF & HCF have the same aim in mind & that's to maintain their brands, look after members & lower premiums. HBF Chairman, Tony Crawford said that the board believed the status for the merger by HCF was involuntary.

What HCF & HBF's outline to integrate means for health insurance customers

as mentioned in Health fund HCF tells it wishes to be merged by not-for-profit bedfellow HBF as recently as August, that going to Turn around the pair into Australia's 3rd-largest health insurance suppliers, behind Bupa & Medibank. When the merger declaration was largely welcomed on Monday, the dental industry was scathing, calling the Growth "dangerous & onerous". linked Articles further Australians dispose of health insurance due to hight premiums"Yes, premium costs are driven in the end by healthcare costs, by hight prices as well as volume, however having extra scale does ensure we're enable to of focus on things in our control." SHAREShare on fb SHAREShare on Twitter TWEETLink HCF wants to integrate by HBF to innovate Australia's 3rd largest health insurance suppliers. SHAREShare on FacebookShare on TwitterLink The Grattan Institute's Dr Stephen Duckett said some consolidation in the health insurance industry is a perfect thing.

collected by :Lucy William