Published 01 Sept 2026
GMHBA and the Reserve Bank Health Society (RBHS) today announced they have entered into a binding agreement for a merger that will see RBHS's health insurance business transfer to GMHBA, subject to approvals from the Australian Prudential Regulation Authority (APRA), the Australian Competition and Consumer Commission (ACCC) and other customary conditions.
The merger brings together two member-based, not-for-profit health insurers with a shared commitment to putting members first and supporting their health and wellbeing.
RBHS is a not-for-profit health fund serving Reserve Bank and Note Printing Australia employees, former employees and their families. Following regulatory approval, RBHS members will transition to GMHBA through a carefully managed process designed to ensure continuity of cover and ongoing support for members.
GMHBA Chief Operating Officer Wes Self said the merger aligns with GMHBA's long-term strategy of delivering value to members through sustainable growth.
"We're pleased to welcome RBHS members to GMHBA," Mr Self said.
"This merger allows us to support the health and wellbeing of more Australians while creating efficiencies that can be reinvested into value and affordability for members.
"It also reflects the deliberate investment we have made in our platform, people and capability over recent years. That investment means we are well positioned to take on growth of this kind responsibly, and to do so in a way that strengthens outcomes for every member, both those joining us from RBHS and those already with us."
Over the past year, GMHBA has continued to focus on delivering value for its members, including announcing an average premium increase of 1.98% for 2026, the lowest average increase in the industry and the fourth consecutive year GMHBA's increase has been below the industry average.
RBHS Chair Sarah Harris said the deal creates positive opportunities for members.
“This merger provides long‑term certainty for our members,” Ms Harris said.
“We believe that joining GMHBA, a values-aligned not-for-profit health insurer, represents the strongest long-term outcome for members and will ensure the continued delivery of high-quality, sustainable health cover.”
The proposed merger will have no impact on existing GMHBA policies.
Subject to receiving all necessary approvals, the transition of RBHS members to GMHBA is expected to occur in early 2027.
