Pandemic cashback scheme to roll out in the coming weeks
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We all know how tough the pandemic was – and still is. Millions of Aussies were forced to stay home for long periods of time, many were unemployed or underemployed, and we all worried about our health and the health of our loved ones.
Now that things are gradually returning to normal (or at least a 'new normal'), it's nice to hear some good news for a change. Private health insurers across Australia are giving us something to smile about in the form of cashback payments!
Australians will start to receive cashback payments in a move by health insurers to return COVID savings to millions of members. This means that if you're a private health insurance policyholder, there's a good chance you'll be getting some extra funds before Christmas. Yay!
Here's everything you need to know about this welcome windfall…
HCF, one of the biggest private health insurance companies in Australia, said in September that it would return $130 million to its 1.8 million policyholders due to savings incurred as a result of the pandemic – and now, the payments have started rolling in.
HCF began notifying members about the amount they would receive and when expected payments would start arriving last month.
The payment will differ for each member depending on their cover and state, but according to the company's website, all customers should expect to receive their payment before Christmas this year. So keep an eye on your inbox and bank account!
The insurance provider claimed that the savings were a part of a bigger support package offered to members since the pandemic began, which has included additional financial and health services support.
Sheena Jack, HCF's Chief Executive Officer, explained that the refund was made as part of the company's continued effort to reduce the cost of health insurance for their customers.
'Given the changing healthcare landscape over the past three years, it's only fair we work hard to find more ways to give back and to help members manage the mounting cost of living pressures,' Jack said.
'A strong commitment to putting our members before profit remains a guiding force in all of the decisions we make for our members.'
Similarly, starting in October, up to 3.4 million Bupa customers were eligible to receive cashback payments from the insurance company. Depending on the specifics of their policy, members can expect to get cash rebates ranging from $16 to $118, for a total payout of $155 million.
Payback amounts will vary from state to state, depending on how severely the area was affected by the pandemic – so customers in NSW and VIC, who were severely impacted, due to strict government lockdowns, can expect to receive a higher payback amount.
The fund will use the bank details listed with each account, so if you think you might be eligible, be sure to check that your personal and contact information is up to date. And if you have any questions, do not hesitate to get in touch with your provider directly.
Members, take this as a reminder to check your health insurance policies and information! We hope you get a nice little boost from this unexpected cashback and that it helps you out this holiday season.
Now that things are gradually returning to normal (or at least a 'new normal'), it's nice to hear some good news for a change. Private health insurers across Australia are giving us something to smile about in the form of cashback payments!
Australians will start to receive cashback payments in a move by health insurers to return COVID savings to millions of members. This means that if you're a private health insurance policyholder, there's a good chance you'll be getting some extra funds before Christmas. Yay!
Here's everything you need to know about this welcome windfall…
HCF, one of the biggest private health insurance companies in Australia, said in September that it would return $130 million to its 1.8 million policyholders due to savings incurred as a result of the pandemic – and now, the payments have started rolling in.
HCF began notifying members about the amount they would receive and when expected payments would start arriving last month.
The payment will differ for each member depending on their cover and state, but according to the company's website, all customers should expect to receive their payment before Christmas this year. So keep an eye on your inbox and bank account!
The insurance provider claimed that the savings were a part of a bigger support package offered to members since the pandemic began, which has included additional financial and health services support.
Sheena Jack, HCF's Chief Executive Officer, explained that the refund was made as part of the company's continued effort to reduce the cost of health insurance for their customers.
'Given the changing healthcare landscape over the past three years, it's only fair we work hard to find more ways to give back and to help members manage the mounting cost of living pressures,' Jack said.
'A strong commitment to putting our members before profit remains a guiding force in all of the decisions we make for our members.'
Similarly, starting in October, up to 3.4 million Bupa customers were eligible to receive cashback payments from the insurance company. Depending on the specifics of their policy, members can expect to get cash rebates ranging from $16 to $118, for a total payout of $155 million.
Payback amounts will vary from state to state, depending on how severely the area was affected by the pandemic – so customers in NSW and VIC, who were severely impacted, due to strict government lockdowns, can expect to receive a higher payback amount.
The fund will use the bank details listed with each account, so if you think you might be eligible, be sure to check that your personal and contact information is up to date. And if you have any questions, do not hesitate to get in touch with your provider directly.
Key Takeaways
- Australians are set to receive cashback payments from health insurers in a move to return COVID savings to millions of members.
- The payments have started rolling in as private health insurer HCF began notifying members last month how much they would receive. Policyholders can expect to receive the payment before Christmas.
- Similarly, up to 3.4 million Bupa customers were also set to receive cashback payments from October.