2009 GMHBA Annual Report - GMHBA Health Insurance

When a group of determined cement workersbanded together in the late 1920s to negotiatewith hospitals for free treatment, they couldhardly have imagined what they wouldeventually create. GMHBA was officiallylaunched on August 13, 1934 as an open fundto all. Since then, GMHBA has continued togrow and prosper.Now with 75 years’ experience, GMHBALimited (GMHBA) has been an integral part ofregional Australia’s social and economic fabricfor generations. We are an important elementof many local communities; we value our rolewithin them, and we remain committed totheir future.CONTENTSOUR MISSIONSupporting the health of our communities for generationsGMHBA Performance Snapshot 3How GMHBA Compares 4Chairman’s Report 51Chief Executive’s Report 6Board of Directors 7 - 8Executive Team Management 9 -10Strategic Intents 11 - 15Financial Report 16 - 52Directors’ ReportIndependent Audit DeclarationCorporate Governance StatementIncome Statement for the year ended 30 June 2009Balance Sheet as at 30 June 2009Statement of Changes in Equity for the year ended 30 June 2009Cash Flow Statement for the year ended 30 June 20092GMHBA aims to be a trusted partner with ourmembers enabling them to access quality privatehealth care. We have a grassroots communityfocus and a proactive approach to health care andhealth education. GMHBA is a mutual, not-forprofitorganisation, committed to maintaininghealth cover that is for people, not for profit.OURPHILOSOPHYNotes to the Financial Statement for the year ended 30 June 2009Directors’ Declaration for the year ended 30 June 2009Independent Audit ReportPrincipal Registered Office, Branch Locations Affiliations and Agency