nib Health Funds Ltd. (NIB)
As one of Australia's fastest growing health funds, nib provides affordable health cover to more than 1,000,000 people nationwide. Established over 60 years ago, nib provides a range of health covers that allow customers to tailor their cover to suit their needs.
nib Health Funds Ltd. provide further information regarding:
- Gap cover doctors
- Agreement hospitals
- Preferred providers
- Overseas students
- Overseas visitors
- Corporate products
Agreement Hospitals
This fund has agreements with some private hospitals or day surgeries to provide services at low or no out-of-pocket costs. You can see Agreement Hospitals for this insurer and further details are available from the insurer.
Business Structure
This insurer is a shareholder owned company that operates on a for-profit basis.
nib Health Funds Ltd. operates in all states and territories.
nib Health Funds Ltd. polices are sold under a number of different brands, including:
- AAMI Health Insurance
- Apia Health Insurance
- ING Health Insurance
- Priceline Health Insurance
- Qantas Insurance
- Real Health Insurance
- Seniors Health Insurance
- Suncorp Health Insurance
Performance
This table compares this health insurer's performance on a range of factors. Some of this information has previously been published in the Private Health Insurance Ombudsman's State of the Health Funds report, available from the Ombudsman's website (www.ombudsman.gov.au). Please note information is not provided for some insurers in some states, as there are insufficient numbers reported for states in which the insurer does not have a large membership.
| Ombudsman complaints compared to market share | ||
|---|---|---|
| All complaints | 10.1% | 9.6% market share |
| Investigated complaints | 11.0% | |
| Health Insurer Retention and Finances | Industry result | |
|---|---|---|
| Member retention (hospital cover) | 82.7% | 86.5% |
| Benefits as % of contributions | 79.0% | 81.1% |
| Management expenses % of contribution income | 12.3% | 10.8% |
| Management expenses per average policy | $438 | $413 |
| Coverage | ACT | NSW | VIC | QLD | SA | WA | TAS | NT | Australia |
|---|---|---|---|---|---|---|---|---|---|
| Hospital Related Charges Covered | 76.0% | 86.9% | 84.6% | 84.4% | 89.2% | 85.8% | 89.4% | 80.8% | 85.9% |
| Industry Result | 81.8% | 88.7% | 90.5% | 88.9% | 92.6% | 92.4% | 92.4% | 88.6% | 89.9% |
| Medical Services with No Gaps | 65.9% | 93.2% | 89.7% | 89.1% | 94.4% | 93.2% | 95.3% | 83.4% | 91.7% |
| Industry Result | 75.6% | 89.3% | 87.3% | 87.8% | 89.0% | 88.9% | 91.2% | 86.7% | 88.3% |
| Medical Services with No or Known Gaps | 66.1% | 93.6% | 90.9% | 89.8% | 94.4% | 93.5% | 95.5% | 83.4% | 92.3% |
| Industry Result | 91.2% | 96.4% | 97.8% | 96.8% | 99.3% | 98.0% | 98.8% | 95.9% | 97.2% |
| General Treatment (extras) Covered | 55.9% | 56.1% | 60.0% | 56.7% | 60.2% | 63.1% | 55.7% | 60.1% | 57.5% |
| Industry Result | 46.4% | 48.4% | 50.5% | 51.4% | 55.2% | 55.9% | 51.8% | 57.7% | 51.1% |
| Private Hospital Agreements | 6 | 89 | 67 | 51 | 16 | 21 | 6 | 1 | - |
| Industry Maximum | 8 | 98 | 72 | 58 | 24 | 24 | 8 | 2 | - |
| Day Hospital Agreements | 8 | 87 | 70 | 44 | 23 | 22 | 7 | 2 | - |
| Industry Maximum | 9 | 104 | 79 | 54 | 30 | 29 | 9 | 2 | - |