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HBF members need to act now

Private health fund HBF will increase insurance premiums on 1 April 2022.

HBF health fund logo on a grey background with a calendar saying 3.62% increase on 1 April 2022
Last updated: 22 March 2022


Checked for accuracy by our qualified fact-checkers and verifiers. Find out more about fact-checking at CHOICE.

Need to know

  • HBF will increase its health insurance premiums on 1 April 2022 by 3.62% 
  • If you prepay by 31 March, you can lock in your current premium for up to 18 months
  • HBF is Australia's fifth-largest health fund behind Medibank, Bupa, HCF and NIB

HBF will increase its health insurance premiums on 1 April 2022 by an average of 3.62%.

This compares with an average premium increase of 2.7% and is the highest increase of the five major health funds. The other four funds have also delayed their premium increases till later this year:

  • NIB – 2.66% increase from 1 September 2022
  • HCF – 2.72% from 1 November 2022
  • Medibank – 3.10% from 1 October 2022
  • Bupa – 3.18% from 1 October 2022.

How to save on your HBF health insurance premium

You can review your private health insurance at any time to see if you're getting the best deal (it's good practice to do it at least once a year). With thousands of health insurance policies on the market it can be hard to make sense of your options, so our insurance experts developed a tool that lets you compare health insurance so you can find cover that works for you, and potentially save yourself hundreds.

If you decide your current policy is good value for money and suits your needs, prepay your premium by 31 March. This is an excellent way to save money as it 'locks in' your current premium and means you'll avoid the 1 April price increase for up to 18 months.

HBF discounts

You can save money on your health insurance by taking advantage of available discounts that centre around how and when you pay, such as:

  • 3.85% discount when you prepay your premium (maximum prepayment period is 18 months)
  • 4% discount when you pay by direct debit
  • 7.85% discount when you prepay your premium using direct debit.

Who is HBF?

HBF was founded more than 80 years ago in Perth and still has about 80% of its 1.1 million members located in Western Australia. With a market share of about 8%, HBF is Australia's fifth-largest health insurer and, behind HCF, Australia's second-largest member-based nonprofit health fund.

How does HBF rate?

Gap cover rating

How well does HBF protect its members from out-of-pocket costs?

  • WA and the ACT  – Above average (the second-highest rating).
  • Everywhere else – Average.

Complaints rating

HBF has a Medium rating for complaints.

The complaints rating is based on complaints lodged with the Private Health Insurance Ombudsman (1 Oct to 31 Dec 2021). See our round-up of the most complained about health funds.

How did HBF treat its members during COVID-19?

In 2020 nearly all private health funds in Australia delayed their premium increases until 1 October. HBF was the only major health fund to totally cancel the premium increase that year.

While all five major health funds refunded COVID-19 profits to their members, HBF was the first fund to announce these refunds and says it's committed to continue to refund any extra profits made during the pandemic.

Five steps to better, cheaper health insurance

Want to change health insurance policies but not sure where to start? Our experts have put together a handy five-step action plan to help you through the process of reviewing, comparing and switching your health insurance policy. 

Just a few minutes could potentially save you hundreds of dollars a year: one of our editors saved herself over $1800 annually just by reviewing and switching cover for her young family. 

Follow these five easy steps below.

We care about accuracy. See something that's not quite right in this article? Let us know or read more about fact-checking at CHOICE.