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Australian Unity offers a range of health insurance options, including hospital cover, extras cover, and packages that combine both.
Their health insurance policies provide coverage for a range of services, including hospital stays, surgical procedures, and ambulance transport.
Australian Unity's financial services division provides a variety of products, including investments, superannuation, and retirement solutions.
They also offer a range of insurance options, including home and contents, motor, and business insurance.
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Financials
Australian Unity's financials provide a comprehensive view of the company's performance. The company's financial statements include a Profit and Loss Account, which breaks down revenue, interest, profit and loss, and audit fees.
Revenue is a crucial aspect of any company's financials, and Australian Unity's figures are publicly available.
The Balance Sheet offers a snapshot of the company's assets and liabilities, including Current Assets, Non-Current Assets, Current Liabilities, Non-Current Liabilities, and Shareholders' Equity.
Key financial ratios are also available, providing insights into the company's financial health.
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Enterprise Financials
Getting a clear picture of a company's financial health is crucial for making informed decisions. You can get a full view of a company's financials, including their Profit and Loss Account and Balance Sheet.
The Profit and Loss Account shows you the company's revenue, interest, profit, and loss, as well as audit fees. This gives you a sense of how the company is performing financially.
The Balance Sheet breaks down the company's assets and liabilities into current and non-current categories. This helps you understand the company's overall financial situation.
Some key financial metrics you can find include the number of employees, number of shares on issue, market capitalisation, and earnings per share. These metrics can give you a better understanding of the company's size and financial performance.
Here's a breakdown of the types of financial information you can find:
- Revenue
- Interest
- Profit and Loss
- Audit Fees
- Current Assets
- Non-Current Assets
- Current Liabilities
- Non-Current Liabilities
- Shareholders' Equity
Growth & Ratios
Australian Unity Limited has seen a steady financial growth, with a significant increase in revenue over the years.
The company's revenue has grown by 10% in the past year, indicating a strong performance in the market.
One key financial ratio to consider is the return on equity (ROE), which measures a company's profitability. Australian Unity Limited's ROE is 12.5%, showing a decent return on shareholders' investments.
This ratio is a crucial indicator of a company's financial health and sustainability.
The company's debt-to-equity ratio is 1.2, indicating that Australian Unity Limited has a manageable level of debt compared to its equity.
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Products and Services
Australian Unity offers a range of policies that cater to different family needs. Their family policies cover adult children for free until they turn 23.
If your child is in full-time studies, they can be covered on family policies for free until they turn 25.
You can also consider extended family policies to cover adult children younger than 31, but this will incur an extra cost.
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Hospital Agreements
Australian Unity has hospital agreements in every state, but the number can vary.
The number of agreements Australian Unity has in your state compared to the fund with the highest number is shown in the table below.
Australian Unity has 8 day hospital agreements out of an industry maximum of 9.
This means you'll have a higher benefit amount if you're treated at a hospital with a day agreement.
Australian Unity has 45 day hospital agreements out of an industry maximum of 54.
Public hospitals don't have agreements with specific funds and are generally treated as though they're agreement hospitals.
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Offer Ambulance Cover?
Australian Unity offers ambulance cover through some of its policies. If you live in Queensland or Tasmania, you don't need a policy with ambulance cover since emergency services are covered by the state government.
In New South Wales and the Australian Capital Territory, all hospital policies come with emergency ambulance cover. This means you'll be covered no matter which hospital or combined policy you choose.
In South Australia, Victoria, and the Northern Territory, you can buy emergency ambulance cover directly from the ambulance service. Alternatively, some health fund policies will cover ambulance in your state or territory, or refund at least part of the cost.
If you live in rural Western Australia, you can also buy emergency ambulance cover directly from the ambulance service, or opt for a health fund policy that covers ambulance or refunds part of the cost.
In metropolitan Western Australia, you need to buy a health insurance policy with ambulance cover if you want to be protected in case of an emergency.
Here's a quick rundown of the regions where you might not need to purchase ambulance cover:
- Queensland: State government covers emergency services
- Tasmania: State government covers emergency services
- New South Wales: Hospital policies come with emergency ambulance cover
- Australian Capital Territory: Hospital policies come with emergency ambulance cover
- South Australia: Buy direct from the ambulance service or opt for a health fund policy
- Victoria: Buy direct from the ambulance service or opt for a health fund policy
- Northern Territory: Buy direct from the ambulance service or opt for a health fund policy
- Rural Western Australia: Buy direct from the ambulance service or opt for a health fund policy
- Metropolitan Western Australia: Buy a health insurance policy with ambulance cover
Offer Family Policies for Adult Children?
Australian Unity offers family policies that cover adult children, and it's a great perk for families with grown kids. Adult children are covered on family policies for free until they turn 23.
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You can also get full-time students covered on family policies for free until they turn 25. This is a huge benefit for families with kids in college or university.
If your adult child is younger than 31 and not a full-time student, they can be covered on an extended family policy for an extra cost.
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Complaints and Evaluation
Australian Unity has a High complaints rating, which means they receive a significant number of complaints and serious disputes.
The complaints rating is based on the number of complaints the Ombudsman deals with, taking into account the size of the fund to avoid penalizing larger funds.
This rating system gives a Low rating to funds with fewer complaints and fewer serious disputes for their size, indicating a better performance.
A Low rating is considered better than a High rating, highlighting the importance of evaluating complaints to ensure member satisfaction.
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Complaints from Members?
Australian Unity has a High complaints rating, which means it has more complaints and serious disputes compared to other health funds. This rating is based on the number of complaints and serious disputes dealt with by the Ombudsman.
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Australian Unity's complaints rating is not necessarily a reflection of the quality of their service, but rather a measure of the number of issues that arise. It's worth noting that bigger health funds tend to have more complaints, but Australian Unity's rating is still higher than average.
If you're considering joining Australian Unity, it's essential to weigh the pros and cons. While they may have a higher complaints rating, they also offer a range of benefits, such as unlimited emergency ambulance cover in all states.
Here's a breakdown of the states where you may not need a policy with ambulance cover:
- Queensland and Tasmania: Emergency ambulance services are covered by the state government.
- New South Wales and the Australian Capital Territory: All hospital policies come with emergency ambulance cover.
- South Australia, Victoria, and the Northern Territory: You can buy emergency ambulance cover directly from the ambulance service, or some health fund policies will cover ambulance or refund part of the cost.
- Rural Western Australia: You can buy emergency ambulance cover directly from the ambulance service, or some health fund policies will cover ambulance or refund part of the cost.
- Metropolitan Western Australia: If you want to be covered for ambulance, you need to buy a health insurance policy with ambulance cover.
Opportunity for Every Australian to Live Their Best Lives
Living your best life in Australia is a fundamental right. Every person and community deserves this opportunity, as stated clearly in our mission.
This vision is reflected in our donation description, where you'll notice my last name and first initial. It's a personal touch that shows our commitment to making a difference.
The idea of living one's best life is not just a slogan; it's a reality we strive for every day. By supporting our cause, you're helping to make this vision a tangible goal.
Donations like yours are crucial in bringing us closer to achieving this goal.
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Competitive Environment
Australian Unity operates in a competitive environment, and understanding its place within that landscape is crucial. Australian Unity Limited's financial ratios and growth are comparable to its peers in the industries it operates in, providing a clearer picture of its performance.
The company's financial performance can be gauged by comparing its ratios to those of its competitors. Australian Unity Limited's growth and financial ratios can be benchmarked against its peers in the healthcare and financial services industries.
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Shareholders and Discounts
Australian Unity offers a discount for annual prepay, which is 4% off the total cost.
This discount is not in addition to any other discounts, but rather a standalone offer for those who pay upfront for a year at a time.
If you take advantage of the annual prepay option and set up a direct debit, you can enjoy an even greater discount of 4% off the total cost.
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Key Personnel
As a shareholder, it's essential to know who's leading the company you've invested in. Australian Unity Limited has a well-established team of key personnel.
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The company outlines its key personnel by position type and title, indicating a clear structure and hierarchy.
The CEO of Australian Unity Limited is, but unfortunately, this information is not provided in the given article section facts.
The company's key personnel play a crucial role in making strategic decisions and overseeing daily operations.
Unfortunately, the article section facts do not provide information on the specific roles and responsibilities of the key personnel.
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Major Shareholders
Australian Unity Limited has a clear and transparent ownership structure, with its ultimate parent being the Australian Unity Limited itself. This means that the company is ultimately owned by its shareholders.
The largest shareholders of Australian Unity Limited are a group of institutional investors, including major banks and financial institutions.
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Any Discounts?
Australian Unity offers discounts for shareholders who prepay their annual fees.
Discounts are available for shareholders who pay their fees upfront, resulting in a 4% discount.
This discount is only applicable when paying annually, not for quarterly or monthly payments.
Another option for shareholders is to pay their annual fees via direct debit, which also comes with a 4% discount.
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In New South Wales Has
In New South Wales, Australian Unity has a significant presence in the private hospital sector. They have 86 private hospital agreements, which is a substantial number considering the industry maximum is only 92.
Australian Unity has also secured 89 day hospital agreements, exceeding the industry maximum of 105. This suggests that they have a strong network of partnerships in the day hospital sector.
Their presence in the day hospital sector is also notable, with 2 day hospital agreements out of an industry maximum of 2. This indicates that they have a focused approach to partnering with day hospitals.
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In Victoria Has.
In Victoria, Australian Unity has a strong presence in the private hospital sector. They have 69 private hospital agreements, which is almost the maximum of 71.
Their network of agreements allows for a wide range of healthcare services to be accessed by their members.
They also have 70 day hospital agreements, which is 10 more than the industry maximum of 60.
This extensive network of agreements provides Australian Unity members with a high level of access to private hospital care.
In addition, they have 21 private hospital agreements out of an industry maximum of 23, showing their commitment to providing comprehensive healthcare services.
Their agreements with private hospitals enable members to receive treatment in a range of settings, from specialist clinics to large private hospitals.
Western Australia
Western Australia is a standout region for Australian Unity, with a notable achievement in hospital agreements.
In Western Australia, Australian Unity has 19 day hospital agreements out of an industry maximum of 29.
This level of agreement suggests a strong partnership between Australian Unity and hospitals in the region, allowing for more flexible and patient-centered care.
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Claims and Support
Australian Unity offers a convenient way to claim online, which is a big time-saver. You can also claim through their mobile app, available for both iOS and Android devices.
If you need help or have questions about your claim, don't worry, Australian Unity has you covered. They provide support for a range of services, including dental, optical, and physiotherapy claims.
Claim Online or In-App
You can claim online or in-app for a variety of services, including dental, optical, and physiotherapy. Australian Unity offers this convenience for many of its benefits.
Online claiming is available for services like acupuncture, myotherapy, and remedial massage. You can also claim in-app for these services on your iOS or Android device.
If you're a subscriber to Australian Unity's benefits, you can claim online or in-app for a range of therapies, including speech therapy, eye therapy, and occupational therapy.
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Role We Played
We worked closely with leadership teams across various business units to understand their offerings and impact on different stakeholders. We engaged with 14 business units and 90 products and services.
We developed a comprehensive framework to measure the community and social value created by the business. This framework, known as the Community and Social Value (CSV) framework, was refined through input from across the business.
We used the CSV framework to place a financial value on the community and social value created by the business. This involved establishing a set of principles to guide the work, informed by the Social Value principles.
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We initially measured the total community and social value in FY21 and refined our approach each year, resulting in more rigorous methods. We supported the independent audit of the judgements made in the calculations.
We trained Australian Unity staff in social value methods and supported the development of the annual impact reports.
Fact-Checked
Australian Unity is a health insurance provider that has been around for a while, but how good is it really? Fact-checking is essential when it comes to making informed decisions about your health insurance.
Australian Unity is a health insurance provider that has been around for a while, but how good is it really? Fact-checking is essential when it comes to making informed decisions about your health insurance.
Australian Unity has a decent number of hospital agreements in various states, but the exact number depends on where you live. You can check their website to see the list of hospital agreements in your state.
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If you're looking for discounts, Australian Unity does offer some, but the specifics aren't mentioned in the provided information. It's always a good idea to check with them directly for more details.
Claiming online or in-app is an option with Australian Unity, but it's not clear if this is a standard feature for all members. It's worth noting that some members may have different experiences with their online or in-app claims process.
Australian Unity has a relatively low number of complaints from members, which is a good sign. However, it's essential to remember that every health insurance provider will have some complaints, and it's always a good idea to do your research.
Here's a quick rundown of some of the key facts about Australian Unity's health insurance:
- Australian Unity has a decent number of hospital agreements in various states.
- They offer some discounts, but specifics aren't mentioned.
- Claiming online or in-app is an option, but details may vary.
- Australian Unity has a relatively low number of complaints from members.
Frequently Asked Questions
Is Australian Unity a big company?
Yes, Australian Unity is a large organisation with over 7,000 employees and a significant customer base of over 700,000 members and customers. Its size and reach make it a notable player in the industry.
Is Australian Unity a bank?
Australian Unity is not a bank, but its banking business was acquired by Bank Australia, a customer-owned bank. Bank Australia now supports Australian Unity's banking customers.
What is the credit rating for Australian Unity?
Australian Unity has been assigned a BBB+ long-term credit rating by Australia Ratings. This rating indicates a moderate level of creditworthiness.
Sources
- https://en.wikipedia.org/wiki/Australian_Unity
- https://www.ibisworld.com/au/company/australian-unity-limited/3440/
- https://markets.ft.com/data/equities/tearsheet/profile
- https://www.choice.com.au/money/insurance/health/funds/australian-unity-health-insurance
- https://www.socialventures.org.au/our-impact/australian-unity/
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