Health Insurance Review

HBF Health Insurance Review 2026

HBF is a not-for-profit health fund based in Perth, Western Australia, with a growing national footprint. Known for competitive pricing and low out-of-pocket hospital costs, HBF has long been the dominant private health insurer in WA and is steadily building its presence in eastern states. The fund's not-for-profit model directs surplus revenue back to members.

Last reviewed: 2026-04-10 • Sources: Sources include HBF, APRA, PHIO and ASIC MoneySmart
4.3/5
Poor Average Excellent
2,480
total reviews
"Been with HBF for fifteen years in Perth and the gap on hospital treatment has always been minimal. Not-for-profit means my premiums work for me, not shareholders."
ProductReview.com.au ★★★★★
"Great value compared to the big for-profit funds. Dental extras are solid and I claimed through the app without a hitch. Definitely worth looking at."
Google Reviews ★★★★☆
"HBF is fantastic in WA but when I moved to Melbourne the hospital network felt thinner. Fewer participating providers outside Western Australia in my experience."
ProductReview.com.au ★★★☆☆
50%
Excellent
24%
Good
12%
Average
8%
Below Average
6%
Poor

In This Review

Overview Ratings Member Reviews Products Pros & Cons Pricing Comparison Alternatives Best For Verdict FAQs

Company Overview

What does HBF offer?

HBF was founded in 1941 in Perth and has operated as a not-for-profit health fund for over eight decades. In Western Australia, HBF is the dominant health insurer, covering a substantial proportion of the state's privately insured population. The fund has been progressively expanding eastward and now accepts members nationally.

Like HCF, HBF's not-for-profit structure means it does not distribute profits to external shareholders. Every dollar of surplus is reinvested into member benefits, operational improvements or premium moderation. This approach has contributed to HBF consistently delivering some of the lowest out-of-pocket hospital costs in Australia, alongside Bupa.

HBF's product range covers hospital insurance at all government-defined tiers, extras cover for dental, optical, physio and allied health services, and combined hospital-plus-extras packages. The fund also offers home, car and travel insurance in WA, though health insurance remains its core offering nationwide.

Members outside Western Australia should carefully verify HBF's hospital agreements in their state before joining. While the national network is growing, it does not yet match the depth HBF offers in WA. Rebate and loading information is available at moneysmart.gov.au/health-insurance.

Below we evaluate HBF's products, pricing, network coverage and member sentiment to help you decide whether HBF suits your health insurance needs.

Ratings Breakdown

How does HBF rate?

InsuranceCompared.com.au
4.3
4.3
Editorial assessment
ProductReview.com.au
4.1
4.1
1,600+ reviews
Google Reviews
4.0
4.0
870+ reviews
PHIO Complaints
Low
4.0
Relative to market share
HBF maintains a low complaint ratio to the PHIO, reflecting strong service quality particularly in Western Australia.

Disclaimer: Ratings reflect publicly available data and editorial analysis as at April 2026. They do not constitute financial advice. Verify current scores on each platform directly.

What Customers Are Saying

What members are saying about HBF

Knee reconstruction in Perth and the total gap was under $100. HBF's agreements with WA hospitals are excellent. Would not consider switching.

ProductReview.com.au 5

Moved from Medibank to HBF and saved about $30 a month on comparable family cover. Not-for-profit makes a real difference over time.

Google Reviews 4

Good fund but I wish they had more dental clinics of their own. In Perth I have to find a participating provider whereas Bupa has walk-in dental centres.

ProductReview.com.au 3
40%
Low out-of-pocket costs
28%
Premium value for money
18%
WA network strength
14%
Eastern states network gaps

Review excerpts are sourced from public platforms and may be edited for length. They represent individual experiences and may not reflect typical outcomes. Contact the Private Health Insurance Ombudsman (PHIO) at ombudsman.gov.au for complaints.

Products Offered

HBF health insurance products

hospital Gold Hospital Saver
Top Tier

Comprehensive hospital cover for all clinical categories with HBF's strong gap agreements keeping out-of-pocket costs low. Includes cardiac, orthopaedic, obstetric and psychiatric treatment.

All MBS hospital services covered
Low gap agreements across WA hospitals
Choice of private hospital and specialist
Ambulance cover included nationally
hospital Silver Plus Hospital
Mid Tier

Covers the most commonly claimed hospital treatments including heart, joint, back and lung surgery. Some services have restricted benefits at this tier.

Heart, joint and back surgery covered
Lung and chest surgery included
Gap agreements apply where available
Multiple excess options
extras Flex 60 Extras
Extras

Flexible extras cover with competitive dental, optical and physio limits. Members can allocate a flexible pool across multiple service categories based on their usage patterns.

Up to $1,200 combined dental limit
Optical benefit of $250 per year
Flexible pool for physio, chiro and massage
Podiatry and psychology included
package Gold Hospital + Flex 60 Bundle
Combined

Combines full Gold-tier hospital protection with flexible extras cover for a comprehensive package. Low gap hospital agreements and flexible extras allocation in one policy.

Full Gold Hospital cover
Flexible extras limits
Low gap hospital agreements
Combined premium with rebate

Pros & Cons

HBF pros and cons

👍 Pros

  • Not-for-profit model channels surplus revenue into member benefits, translating to competitive premiums and strong gap cover
  • Among the lowest out-of-pocket hospital costs in Australia, particularly in Western Australia where gap agreements are extensive
  • Low complaint ratio with the Private Health Insurance Ombudsman, indicating consistent member satisfaction
  • Competitive pricing that frequently undercuts for-profit funds like Medibank on comparable cover levels
  • Growing national presence gives eastern-state members access to HBF's value-focused approach

👎 Cons

  • Hospital provider network outside Western Australia is still developing and may not offer the same depth as in WA
  • Does not operate its own dental or health clinics, unlike Medibank and Bupa
  • Extras annual limits sit slightly below top-tier offerings from larger funds
  • Brand awareness is lower in eastern states, which may affect referral trust for some prospective members
  • Product range is health-focused nationally, with home and car insurance limited to WA

Pricing Deep-Dive

How much does HBF cost?

HBF premiums depend on your state, age, cover tier and excess. The estimates below are for WA residents after the base-tier Australian Government Rebate for members under 65 on a single income tier.

user

Single, age 30

Gold Hospital + Mid Extras, $500 excess
$188
/month
Industry avg ~$205/mo
~8% below average
users

Couple, both age 35

Silver Plus Hospital + Flex 60 Extras, $500 excess
$342
/month
Industry avg ~$370/mo
~8% below average
family

Family (2 adults, 2 children)

Gold Hospital + Mid Extras, $500 excess
$448
/month
Industry avg ~$495/mo
~10% below average

Disclaimer: Prices shown are indicative estimates based on publicly available rate tables as at April 2026 for WA residents. They are not binding quotes. Actual premiums depend on your state, age, income tier, Lifetime Health Cover loading and chosen excess. Obtain a personalised quote from HBF or use privatehealth.gov.au. Information sourced from ASIC MoneySmart (moneysmart.gov.au) and APRA.

What affects your HBF premium?

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State of residence

HBF premiums vary by state. WA residents typically see the most competitive pricing due to HBF's deep hospital agreements in that state.

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Lifetime Health Cover loading

A 2% loading per year applies for each year after 31 without hospital cover. This can significantly increase premiums and remains for 10 continuous years.

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Excess level

HBF offers multiple excess options. Higher excesses reduce monthly premiums but increase the amount payable per hospital admission.

shield

Government Rebate

The private health insurance rebate reduces premiums by roughly 8% to 33% depending on age and taxable income. Details at moneysmart.gov.au.

How HBF Compares

HBF vs other health funds

Feature Feature HBF HCF Medibank Bupa
Structure Not-for-profit Not-for-profit For-profit (ASX) For-profit
Headquarters Perth, WA Sydney, NSW Melbourne, VIC Melbourne, VIC
Strongest state WA NSW National National
Out-of-pocket costs Very low Low Moderate Very low
Own dental clinics No Yes (NSW) Yes (national) Yes (national)
PHIO complaint level Low Low Medium Medium
Flexible extras allocation Yes No No No
National network maturity Growing Moderate Strong Strong

Disclaimer: Comparison data sourced from APRA, PHIO and individual fund disclosures as at April 2026. Features may change. Confirm details with each fund before purchasing.

Alternatives to HBF Health Insurance

Alternatives to HBF

HCF Health Insurance

Australia's largest not-for-profit health fund. Strongest network in NSW with no excess for children on most policies.

12.4% market share
No excess for children
Low PHIO complaint rate
Student cover under 31
Bupa Health Insurance

Second-largest Australian fund with one of the strongest Medical Gap Schemes. National dental clinic network and competitive pricing.

24.9% market share
Medical Gap Scheme
Bupa Dental clinics nationally
4.8% premium increase for 2026
NIB Health Insurance

ASX-listed fund with strong digital tools covering 1.5 million Australian residents. National network with growing presence.

Strong app and online claims
AU and NZ operations
GreenPass loyalty programme
Multiple hospital tiers
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Who Is HBF Health Insurance Best For?

Who is HBF best for?

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Western Australian residents

HBF's deepest hospital agreements and strongest provider network are in WA. If you live in Perth or regional Western Australia, HBF offers some of the best value and lowest gap costs available from any Australian health fund.

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Budget-conscious members seeking low gaps

HBF pairs competitive premiums with low out-of-pocket costs. For members who want to minimise both the monthly premium and the surprise bills at hospital, HBF's pricing structure delivers.

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Members who prefer not-for-profit

Like HCF, HBF operates without external shareholders. If the not-for-profit model matters to you, HBF provides an alternative to HCF with particularly strong value in Western Australia.

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Members wanting flexible extras allocation

HBF's Flex extras products let you allocate benefit pools across service categories based on your actual usage. This flexibility is uncommon and suits members whose healthcare needs vary year to year.

Our Verdict

Our verdict on HBF

4.3
out of 5
Very Good

Outstanding value in WA with a growing national story

HBF is one of Australia's best-value health funds, particularly for Western Australian residents. The combination of not-for-profit pricing, low out-of-pocket hospital costs and a low PHIO complaint ratio creates a compelling proposition that rivals anything offered by the larger for-profit funds.

The flexible extras allocation is a thoughtful feature that recognises members do not all use the same services each year. It adds a layer of personalisation that most other funds lack.

The caveat is network depth outside WA. Members in Victoria, Queensland or other eastern states should verify hospital and specialist agreements carefully before joining, as HBF's national expansion is still maturing. For WA-based members or those comfortable with the evolving eastern network, HBF delivers excellent value.

Product Range
3.7
Pricing Competitiveness
4.6
Claims Experience
4.3
Customer Service
4.4
Digital Experience
3.8
Provider Network
3.7

Frequently Asked Questions

Common questions about HBF Health Insurance

Yes. HBF now accepts members nationally across all Australian states and territories. However, the fund's hospital agreements and provider network are deepest in Western Australia. If you are based in an eastern state, check HBF's hospital agreements in your area before joining.
Yes. HBF is a not-for-profit organisation with no external shareholders. Surplus revenue is reinvested into member benefits, service improvements or premium moderation rather than being distributed as dividends.
HBF Flex extras products provide a flexible benefit pool that members can allocate across different service categories such as dental, optical, physio and chiro. This means you can direct more of your benefit toward the services you actually use, rather than having fixed limits across each category.
Both HBF and Bupa are recognised for low out-of-pocket hospital costs. Bupa achieves this through its Medical Gap Scheme with participating specialists, while HBF relies on gap agreements with hospitals, particularly in WA. The best option depends on your state and which specialists or hospitals you are likely to use.
In Western Australia, HBF also offers home, car and travel insurance. Nationally, the focus is primarily on health insurance. Travel insurance is available to members in all states.

Our Review Methodology

How we research and rate insurance companies

Data Sources

This review is based on data collected from the following sources, last verified in 2026-03-01:

  • HBF product disclosure statements and rate schedules (hbf.com.au)
  • APRA Private Health Insurance Statistical Trends (apra.gov.au)
  • Private Health Insurance Ombudsman complaint data (ombudsman.gov.au)
  • ASIC MoneySmart health insurance guidance (moneysmart.gov.au)
  • privatehealth.gov.au government comparison tool
  • ProductReview.com.au and Google Reviews aggregated ratings

How We Calculate Scores

Our editorial scores (out of 10) are calculated using a weighted methodology that considers:

  • Product Range (20%): breadth of hospital tiers, extras and additional products
  • Pricing Competitiveness (20%): premium levels versus comparable cover from other funds
  • Claims Experience (20%): member satisfaction with claims processing and gap outcomes
  • Customer Service (15%): PHIO complaint ratios and support responsiveness
  • Digital Experience (10%): app quality, online self-service and digital tools
  • Provider Network (15%): hospital agreements, practitioner access and geographic reach

Disclaimer: This review is for informational purposes only and does not constitute financial advice, a recommendation or an endorsement of HBF. Scores reflect editorial analysis of publicly available information. Read the product disclosure statement and consider whether a product suits your circumstances before purchasing. Consult a licensed financial adviser for personal advice.

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