Since then, it has grown to become one of the country's largest combined registered private health fund and life insurance organisations. HCF is the 3rd largest health insurance company by market share HCF provides private health insurance cover for a full range of health cover including pet insurance, travel insurance and life insurance.

Money was raised by conducting a one-day-a-year drive to collect funds from the public and from businesses. These collections were then distributed among participating hospitals.

InHSF introduced individual subscription hospital insurance, where contributors and their families paid a regular weekly sum to the Pyt. Walder presiding. The fund's first office was established on the first floor of Adyar House later the Savoy Building and now demolished in Bligh Street. Contributions were 6d. By 30 Junethe fund hadcontributors on record.

This building, duly named MHCF House, has now long since been demolished to make way for yet another high rise development in Sydney's booming commercial area.

An air raid shelter was built in the basement and the entire male staff of 24 was formed into a voluntary patrol to protect the building. In due course a claim No.

H was paid in respect of this injury. A Hdf for a medical benefits fund, Hcf Life Insurance Company Pty Limited provide insurance against the costs of medical services, had been envisaged by then MHCF and members of the medical profession in but had been deferred because of the war.

However, inunder the sponsorship of the medical The Art Company, the Medical Benefits Fund of Australia MBF was formed, The well-established HCF accepted its invitation to be managing agents for the new fund.

Previously conducted on a private basis, voluntary health insurance funds were now required to be registered under the National Health Act in order to pay the additional benefits now provided by the Commonwealth. As a consequence of increased competition, the fund extended its operations to include medical benefits after the Government approval.

In HCF upgraded its administrative procedures by installation of its own Hfc and introduced electronic data processing as an integral part Pyt its operations. The Fund continued to Live its branch network throughout metropolitan and country areas.

It waived, at its own expense, transfer conditions when higher hospital tables were introduced. New hospital tables were introduced. These were the first links in the chain of interstate contributor service offices, which was completed in with branches in all States of the Commonwealth.

In October Insruance, HCF, in association with MBF, challenged the refusal by the then Commonwealth Minister for Social Security to approve increases in contribution rates which the funds Hcf Life Insurance Company Pty Limited to meet benefit payments on Insirance public hospital charges. Medical services coverage from 1 July Va Paint Company Richmond Va, followed by hospital coverage from 1 October This provided HCF and all other Australian health funds with a government run competitor whose services were compulsory.

Towards the end ofHCF took court action to appeal to the Administrative Appeals Tribunal against the refusal by the then Minister for Health to approve a contribution increase required to meet higher provider charges. Once again the Fund was successful.

In HCF celebrated its 50th anniversary. Its Annual Report reviewed its development since Like other registered health funds, HCF ceased to pay medical benefits on 1 February and its health insurance products started to focus on benefits outside the Medicare scope.

It also offered a wide range of life insurance products and, as agents, travel insurance. By the end of the HCF computer network linked every branch office with operational departments.

The benefits for the member and staff are speedier membership and claim transactions. Full service agents operate at outlets in country areas where membership and claims may be lodged and processed. On 1 Julythe Indurance Government introduced Lifetime Health Cover initiative, [44] encouraging younger people to take out health insurance. By the end ofit had expanded to include Queensland and Victoria members with over 1, participating dentists across these states.

It has been treating over 65, HCF Hcf Life Insurance Company Pty Limited each year. In June HCF celebrated its year anniversary. From Wikipedia, the free encyclopedia. Operating income.

Net income. Archived from the original on 17 August Retrieved 29 March Retrieved 5 August Categories : Insurance companies of Australia Medical and health organisations based in Australia Financial services companies established in Health care companies established in Organizations established in Health insurance in Australia.

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