Not-for-profit insurer Health Insurance Fund of Australia (HIF) returned to growth in 2025-26 and has since rebuilt its executive team under new chief executive Greg Morris.
HIF signed off its 2025-26 annual report on 24 September. It shows 50,080 policies covered, with member satisfaction at 95%.
Its member base on complying health insurance products rose 4.3%, versus 2.1% net industry growth, after a 1.4% fall the previous year.
HIF processed more than 500,000 claims and paid more than $155 million in benefits. That compares with more than $144 million paid in 2024-25. Its average premium increase from 1 April 2026 was 2.60%, against an industry average of 4.41%.
Consolidated profit fell to $5.9 million from $14.7 million. Capital was 2.80 times APRA’s prescribed requirement, down from 3.22 times.
Paul Hersey became chair in October 2025. Greg Morris joined as chief executive in January from AIA Health (Australia), where he was chief financial officer.
Hersey said the results reflected years of disciplined investment and strategic focus. Entering its next phase, HIF has “a clear strategy, a strong capital position and a continued focus on delivering value for our members,” Hersey said.
Morris said the endorsed FY27-29 Strategic Plan would guide HIF’s next phase of growth and investment. The report says the plan centres on strengthening HIF’s position in Western Australia, although 41% of members now live elsewhere.
Morris said HIF “returned to policyholder growth” in FY26 and will keep investing in “better products, stronger partnerships and improved experiences.”
“Participation in private health insurance follows value,” he said.
In its recent leadership announcement, HIF named three newcomers. The hires include Troy Sheahan as chief strategy, member and growth officer, Michael Hayes as chief risk officer, and Angela North as chief people officer.
HIF said the changes are designed to strengthen capability across strategy, growth, product, technology, data, risk, finance, people and member experience.
Kristina Green now leads brand, member engagement and product strategy as chief marketing and product officer. Billy Martin, chief information officer, added data to his technology and security remit.
Amanda Bell, general manager, member experience, joined the leadership team. Gerry Schipper moved from interim chief risk officer to interim chief financial officer. Glenn Oellermann retired in September after more than 20 years with HIF.
Morris called it “a year of significant change for HIF’s leadership team.”
The board expects subdued industry growth in 2027, citing affordability pressures and the proposed cut to the over-65s rebate, the annual report says.
The Senate voted 38-23 on 14 October to shelve the bill. Health minister Mark Butler reintroduced it within a day. It would remove age-based rebate tiers from 1 April 2027.
Members Health Fund Alliance, the peak body for not-for-profit funds, estimates affected members would face an average effective premium increase of around 9%.
A HIF-commissioned CoreData survey of 501 West Australians found 42% of those aged 18 to 54 would consider helping an older relative pay for cover.
Insurers are expected to lodge 2027 premium applications by mid-November, before the bill’s fate is settled.
Morris said any changes that “increase the cost of maintaining private health insurance place additional pressure on household budgets and, ultimately, the public health system,” in HIF’s Senate statement.
For brokers, HIF’s 2.60% increase and above-industry growth offer a data point as clients weigh options before the 1 April 2027 rebate change.
