Westfund

Westfund is a not-for-profit fund which operates care centres in regional NSW and Queensland, servicing 120,000 members around Australia. "Westfund is not profit or share driven. We act solely for our members without any concern for profits, therefore offering real service to our members," said Mr Danaher. Instead, the insurer is able to focus on its regional community customer base in NSW and Queensland and finance valuable projects including its Here for Hearts community defibrillator program and Music Therapy initiative as well as other sponsorship events and themes carrying the health message in regions. "Instead of issuing dividends to shareholders, we are able to allocate resources to health causes in our care centre areas, as well as in the general regional communities of NSW and Queensland," said Mr Danaher. Westfund has also proactively rewarded its loyal members with almost $12 million returned over three years through its unique 'Member Discount' program. Concentrating on quality member service, Westfund has foreseen and are accommodating the governmental move toward private health insurance reform by simplifying and streamlining its policies and eliminating less comprehensive covers, in line with a vision of offering only functional coverage. "We agree with government moves to streamline the industry and we have been advocating for some time a change towards the industry providing simpler products so as to promote transparency in terms of cover for members," he said. The fund just this month made the move to grade its policies into the platinum, gold, silver and bronze categories to promote a simpler product base for members and prospective members. Mr Danaher also said that Westfund's status as a not-for profit fund meant that there was no need for the fund to choose between its members and making a profit for the shareholder. "As a not-for-profit fund, we operate at less risk for the member. Our members are the basis of our business. We are working entirely for them." Mr Danaher also said a return to basics within the complicated private health insurance sector should be welcomed. "The coverage of hospital, medical, dental and optical are the core areas of our business and should remain the focus in the future," he said. "Westfund is unique in that it was founded and continues to operate with the primary focus on our regions and for our regional members." Westfund Health Insurance has its foundations as a not-for-profit health fund for miners in NSW and is still has its home office operations in Lithgow, the town of its inception.