Members Health says the results of a new survey show Australians trust its funds more than iconic household brands such as Bunnings, Telstra, Australia Post, Qantas and Coles.
Members Health represents 26 not-for-profit or member-owned health funds. Its member funds cover around three million Australians.
The Discovery Research survey of 13,760 customers of Members Health funds was conducted in July.
Members Health said its funds achieved an average trust score of almost 84 per cent – above Australia Post on 72 per cent and Telstra on 61 per cent.
“It justifies why Members Health continues to record year-on-year growth whilst the rest of the industry has declining membership,” said Members Health CEO Matthew Koce.
The survey shows customers believe the Members Health funds have effectively managed the COVID-19 pandemic.
According to the survey, 86 per cent believe the services available have been well managed and communicated, while 80 per cent thought financial hardship assistance has been well managed and communicated. In addition, 89 per cent thought the deferment of premium increases was well managed and communicated.
“Given the challenges presented by COVID-19, it was reassuring that 95 per cent of those surveyed said it was important to have private cover with a health fund that is not for profit or part of a member owned group,” said Mr Koce.
“Members Health funds have applied a range of substantial discounts to help their members through this tough time including; delaying the 1 April premium increase, covering all COVID-19 related admissions regardless of level of cover, introducing new policy suspension rules that allow members impacted by the virus to halt their coverage, premium holidays or ex-gratia benefits for certain COVID-related hospital benefits. All have implemented new and innovative telehealth services or hospital-in-the-home and at-home rehab.”