Media releases

November 15, 2001

Medibank Private membership continues to rise

Australia's largest private health fund, Medibank Private, has increased its membership by close on 4,500 - a figure which accounts for almost 75 per cent of the industry's membership growth for July-September, according to the latest government figures.

This is the second quarterly increase since the Lifetime Health Cover (LHC) initiative last year, during which Medibank Private increased its membership by a third - the highest in the recorded history of the fund.

According to Private Health Insurance Administration Council (PHIAC) figures, Medibank Private's latest increase consolidates its position as the largest private health fund in Australia.

PHIAC is a Federal Government regulator for the private health insurance industry.

Medibank Private has a total membership of 1,418,000 with almost 3 million persons now covered by the fund.

The latest PHIAC figures show that Medibank Private has increased its market share to 30.8 per cent of the market - placing it ahead of its competitors nationally.

The latest figures reveal that Medibank Private is closing the gap on the existing market leader in Tasmania - MBF - to record a market share of 37 per cent of the market in that state.

The health fund continues to hold sway on the eastern seaboard (Vic, NSW and Queensland) - the three states that collectively account for three-quarters of Australia's population.

Medibank Private has maintained its market leadership in NT.

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Medibank Private market share for the September quarter, 2001.

Medibank Private managing director, Mark Burrowes, says a key contributor to the most recent growth was the fund's series of highly successful acquisition strategies that had resulted in ongoing joins' activity during the quarter.

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