Discover how you can claim your share of Medibank's huge $215 million insurance return
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In a time when every dollar counts, thousands of Australians are set to receive a welcome financial boost from a major health insurer.
Medibank has announced a huge $215 million cashback to its customers in the wake of the COVID-19 pandemic.
This generous cashback scheme will see all eligible customers receive at least $50, with some lucky policyholders potentially pocketing up to $360, depending on their level of coverage.
'On average, it will be around $55 for extras-only policies and around $165 for hospital and extras policies,' Medibank revealed.
To qualify for this cashback, you must have held an active hospital and/or extras policy with Medibank on June 30.
Additionally, you must have been a Medibank member with an active resident hospital and/or extras policy between January 1 and June 30, 2023.
It's important to note that this does not include members with special coverage, such as ambulance-only cover or overseas cover.
The best part? If you're eligible, you don't need to do anything. The money will be automatically transferred to you by the end of September.
Medibank's Chief Customer Officer, Milosh Milisavljevic, expressed hope that the cashback would provide some relief during the current cost of living crisis.
'This will bring the total amount of support Medibank has provided to customers to $1.37 billion through our COVID-19 give-back program, which is the largest give-back of any Australian health insurer,' he said.
This cashback initiative is part of Medibank's commitment to return claims made from the COVID-19 pandemic back to its members.
'Since the start of the pandemic, our $1.37 billion financial support package has included the pause of premium increases, free days of cover and other member support options,' Medibank stated.
This positive news comes after a cybersecurity incident involving Medibank.
Russian man Aleksandr Ermakov was recently identified as the culprit behind the 2022 Medibank hack.
This breach saw the personal details and health information of over 9 million customers stolen and sold on the dark web. Ermakov was also linked with the notorious Russian hacking gang REvil.
In response to the hack, Medibank has projected their cybercrime costs, including IT and legal services, to be between $30-$35 million this financial year.
Despite this setback, the company remains committed to supporting its customers and providing the best possible service.
So, are you one of the lucky Aussies about to get a little richer? If you're a Medibank customer, keep an eye on your account in the coming weeks. This unexpected windfall could be just the boost you need to help navigate these challenging times.
Have you ever received a cashback from your health insurer? What did you do with the extra money? Share your experiences in the comments below.
Medibank has announced a huge $215 million cashback to its customers in the wake of the COVID-19 pandemic.
This generous cashback scheme will see all eligible customers receive at least $50, with some lucky policyholders potentially pocketing up to $360, depending on their level of coverage.
'On average, it will be around $55 for extras-only policies and around $165 for hospital and extras policies,' Medibank revealed.
Thousands of Aussies are set to receive $215 million from Medibank. Image source: Shutterstock
To qualify for this cashback, you must have held an active hospital and/or extras policy with Medibank on June 30.
Additionally, you must have been a Medibank member with an active resident hospital and/or extras policy between January 1 and June 30, 2023.
It's important to note that this does not include members with special coverage, such as ambulance-only cover or overseas cover.
The best part? If you're eligible, you don't need to do anything. The money will be automatically transferred to you by the end of September.
Medibank's Chief Customer Officer, Milosh Milisavljevic, expressed hope that the cashback would provide some relief during the current cost of living crisis.
Medibank shared a timeline of its COVID-19 support program. Image source: Medibank
'This will bring the total amount of support Medibank has provided to customers to $1.37 billion through our COVID-19 give-back program, which is the largest give-back of any Australian health insurer,' he said.
This cashback initiative is part of Medibank's commitment to return claims made from the COVID-19 pandemic back to its members.
'Since the start of the pandemic, our $1.37 billion financial support package has included the pause of premium increases, free days of cover and other member support options,' Medibank stated.
This positive news comes after a cybersecurity incident involving Medibank.
Russian man Aleksandr Ermakov was recently identified as the culprit behind the 2022 Medibank hack.
This breach saw the personal details and health information of over 9 million customers stolen and sold on the dark web. Ermakov was also linked with the notorious Russian hacking gang REvil.
In response to the hack, Medibank has projected their cybercrime costs, including IT and legal services, to be between $30-$35 million this financial year.
Despite this setback, the company remains committed to supporting its customers and providing the best possible service.
So, are you one of the lucky Aussies about to get a little richer? If you're a Medibank customer, keep an eye on your account in the coming weeks. This unexpected windfall could be just the boost you need to help navigate these challenging times.
Have you ever received a cashback from your health insurer? What did you do with the extra money? Share your experiences in the comments below.
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