Member-owned health insurer Westfund has this week reported an increase in member reserves to over $95 million.
The company announced that property and cash investments held by the fund totalled $120 million and that member retention remained at 95 per cent, positioning it for a distribution of a $4 million later this year.
Commenting on the result, Westfund managing director Grahame Danaher said it had been achieved despite what he described as a “challenging environment”.
He said the result would allow for continual improvement to service delivery through system upgrades, product and benefit improvements and the acquisition of new dental practices in Queensland, including a $4 million six-chair facility in Mackay set to open in February 2013.
