Sumary of Not-for-profit health funds HCF and RT spruik post-merger value:
- The bosses of health insurers HCF and RT Health are banking on not-for-profit funds becoming more attractive to Australians post-COVID, as the two mutual funds get ready to merge.
- HCF confirmed to this masthead back in June there was a process underway to absorb RT, a 130-year-old fund that covers transport and energy sector employees.
- RT Health chief executive Simone Tregeagle told The Age and The Sydney Morning Herald the deal came about against a backdrop of affordability challenges and an increasingly difficult environment for smaller funds to meet the expectations of their members.
- HCF CEO Sheena Jack said diversity in the private health insurance sector had never been more important, and believed not-for-profit funds had an edge over for-profit operators in this environment.