Cheapest Health Insurance Plans– Can A Not-For-Profit Company Be Cheaper?

Competition is everywhere and it does not just exist in the business world, it also exists in the world of health care. Unknown to some, there are two types of health insurers out there, the not-for-profit and for-profit insurers. There is a big difference between these two types of providers and most people try as much as they can to understand the difference between these two types of insurers, and which one is more commendable to use and who will provide the cheapest health insurance plans.

* The price shown is per week and applies to a {LIFESTAGE} living in VIC with a $500 excess. It excludes LHC loading and includes a Base Tier Government Rebate

The main difference between a profit and not-for-profit is that a for-profit health insurer has shareholders which are paid dividends from the profits made during the year, while a not-for-profit health insurer does not have shareholders. So therefore not-for-profit health insurance companies are truly providing services for the greater good, rather than prioritising on profit gain. As not-for-profit health insurance companies do not have shareholders all cash dividends are not paid directly to the funds members. Instead any surpluses the insurance company received is returned to its members in the form of the cheapest health insurance plans, increased rebates and new benefits and services.

People do not want to settle for any private health insurance company and they want to be ensured they are receiving the best insurance packages and services for themselves.  At Frank Health Insurance we are a not-for-profit company that focuses on providing you with cheapest health insurance plans that are tailored around your needs and wants. We are an online insurance company so you do not have to use up your spare time waiting in queues or on the phone on hold. You can manage your membership online, update your details and even claim when it suits you.

One of the major reasons why people would choose a not-for-profit insurance company is because it is often considerably cheaper. Not-for-profit insurance companies can offer reduced premiums while members are still enjoying a top level of care, which includes cover for private hospitals, ambulance, and extras such as optical, dental, chiropractic, physiotherapy and lots more.

So what does becoming a member of a not-for-profit health insurance company mean for you?

  • Lower premiums
  • More back on claims
  • More extras choice – no need to go to a preferred provider to get the maximum refund
  • Great customer service
  • Notifications about ways to use health insurance because we want you to use it
  • Simple great value health insurance with no strings attached.


At Frank Health Insurance we offer a range of hospital, extras and combined covers to suit different budgets and life stages. Whether you are single, a couple or family, Frank Health Insurance has the cheapest health insurance plans to suit your needs.  At Frank Health Insurance we are not-for-profit, a 100% member based health fund which means we work for the benefit of you and your family. We understand the importance of health care and actively contribute to improving the health in the community. We want to make most out of your premiums and contributions.

Skip 2 & 6 month waits on extras* when you join on combined cover by April 30

*For new members (if you have been a Frank Health Insurance member in the last 12 months, sorry you don’t qualify). 12 month waits, annual and sub limits apply. Offer ends 30 April, 2018.