19/05/2015 - 14:52

HBF to merge with HealthGuard

19/05/2015 - 14:52

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HBF has announced it will formally merge with its subsidiary HealthGuard, in an effort to save costs and boost efficiency.

HBFmanaging director Rob Bransby.

HBF has announced it will formally merge with its subsidiary HealthGuard, in an effort to save costs and boost efficiency.

HealthGuard was originally acquired by HBF in 2002 but was registered as a health fund in its own right, operating from HBF’s Perth headquarters with a single branch in Kalgoorlie.

It was also under the leadership of HBF managing director Rob Bransby.

Mr Bransby said HealthGuard members and employees would experience little or no change after the merger took effect in July.

“There won’t be any change to members’ benefits, premiums or the service they receive from us,” he said.

“We won’t be rushing to change the (HealthGuard) brand and we’ll continue to have a (HealthGuard) branch in Kalgoorlie.”

Mr Bransby said cost savings had been an important factor in the decision to merge HBF and HealthGuard.

He said the Australian Prudential Regulation Authority would soon take responsibility for regulating Australia’s health insurance sector, which would have likely increased administration and reporting obligations for funds like HealthGuard to increase.

“The merger into a single fund will provide significant efficiencies and savings for us,” Mr Bransby said.

“In an era when small not-for-profit funds are increasingly takeover targets for large for-profit funds, this merger will give HealthGuard members the assurance they will remain in the care of a well-resourced, not-for-profit fund committed to their health and wellbeing.”

 

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