Health Insurers Paying Back $235m to Customers!
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Extra, extra, read all about it! We have some fantastic news to share with you! In a world where financial stability can sometimes feel like a distant dream, certain health insurers in our sunny country have made a generous decision.
They are offering cashback rewards to their valued customers, giving them a pleasant surprise and a welcome boost to their finances!
In a display of generosity, the not-for-profit insurer HBF has launched a bold initiative.
They announced their decision to allocate a substantial amount of $110 million, derived from their COVID-19-related savings, directly into their customers' bank accounts.
HBF is not alone in this endeavour. Medibank and AHM have also joined the ranks, proclaiming an additional windfall of $125 million for their respective customers.
It looks like our splendid health insurers are caught up in an excellent game of kindness tug-o-war, and we are reaping the benefits!
You may be wondering about the specific amounts involved in this generous gesture.
For individuals holding an extras-only policy from HBF, an additional sum of $45 is anticipated to be deposited into their bank accounts.
As for families who have a combined hospital and extras policy, they can look forward to an impressive sum of up to $330.
HBF members who had an active policy on March 1 this year and who remained with HBF during the payment period as eligible.
Dr Lachlan Henderson, HBF's CEO, beamed with pride when he confirmed the initiative.
He said, ‘The payments are part of HBF's commitment that as a not-for-profit, member-based organisation, we would not financially benefit from the pandemic, with COVID-19 support provided to HBF members now totalling more than $255 million.’
But hold on tight, as HBF is not the only one spreading the wealth.
Medibank also joined the generous club, offering up to $91 in paybacks for extras-only policies and an impressive $402 for hospital and extras policies as a part of their COVID-19 give-back program.
Medibank Group Executive, Milosh Milisavljevic, shared, ‘We have now given back $1.15 billion to customers through our COVID-19 give back program since the start of the pandemic.’
Medibank and AHM customers can anticipate receiving their cashback as an automatic payment by October 2023.
Eligibility for the cashback is open to customers who held an active hospital and/or extras policy between January 1, 2023, and June 30, 2023.
Even customers who joined during this period or whose policies have lapsed since January 1 will receive a proportional cashback based on the duration of their active policy.
Members, we’d like to know: What are your thoughts on the cashback rewards offered by health insurers, such as HBF and Medibank? Have you personally benefited from similar initiatives?
They are offering cashback rewards to their valued customers, giving them a pleasant surprise and a welcome boost to their finances!
The not-for-profit insurance provider HBF announced that they would be depositing $110 million into their customers' bank accounts. Image from David Peterson
In a display of generosity, the not-for-profit insurer HBF has launched a bold initiative.
They announced their decision to allocate a substantial amount of $110 million, derived from their COVID-19-related savings, directly into their customers' bank accounts.
HBF is not alone in this endeavour. Medibank and AHM have also joined the ranks, proclaiming an additional windfall of $125 million for their respective customers.
It looks like our splendid health insurers are caught up in an excellent game of kindness tug-o-war, and we are reaping the benefits!
You may be wondering about the specific amounts involved in this generous gesture.
For individuals holding an extras-only policy from HBF, an additional sum of $45 is anticipated to be deposited into their bank accounts.
As for families who have a combined hospital and extras policy, they can look forward to an impressive sum of up to $330.
HBF members who had an active policy on March 1 this year and who remained with HBF during the payment period as eligible.
Dr Lachlan Henderson, HBF's CEO, beamed with pride when he confirmed the initiative.
He said, ‘The payments are part of HBF's commitment that as a not-for-profit, member-based organisation, we would not financially benefit from the pandemic, with COVID-19 support provided to HBF members now totalling more than $255 million.’
Health insurance provides financial protection and access to medical services, ensuring individuals have coverage for healthcare expenses when needed. Photo by Dany Kurniawan
But hold on tight, as HBF is not the only one spreading the wealth.
Medibank also joined the generous club, offering up to $91 in paybacks for extras-only policies and an impressive $402 for hospital and extras policies as a part of their COVID-19 give-back program.
Medibank Group Executive, Milosh Milisavljevic, shared, ‘We have now given back $1.15 billion to customers through our COVID-19 give back program since the start of the pandemic.’
Medibank and AHM customers can anticipate receiving their cashback as an automatic payment by October 2023.
Eligibility for the cashback is open to customers who held an active hospital and/or extras policy between January 1, 2023, and June 30, 2023.
Even customers who joined during this period or whose policies have lapsed since January 1 will receive a proportional cashback based on the duration of their active policy.
Members, we’d like to know: What are your thoughts on the cashback rewards offered by health insurers, such as HBF and Medibank? Have you personally benefited from similar initiatives?
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