Australian health insurance company HCF is giving back $136 million in health insurance claims savings to members.
Private health insurer HCF previously announced it would give back $130 million in pandemic-related savings to its 1.8 million Australian customers as part of a $495 million support package.
On Wednesday, the insurer announced it would give back an additional $136 million.
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HCF CEO Sheena Jack said the additional measure is part of the insurer’s “commitment to make health cover more affordable and accessible for members”.
“As a not-for-profit, we are continually putting our money where our members are and this is another key example of how we put our members before profit,” Jack said.
“We received a lot of positive feedback about our cash giveback prior to Christmas last year.
“This time members should expect we’ll return the pandemic savings into their bank accounts later in the year again.”
Jack added she is “pleased” to pass on COVID savings in full to members, “especially at a time when they’re feeling financial pressure on many fronts”.
The not-for-profit said the savings formed part of a larger package of support it provided to members since the start of the pandemic, including both financial and increased health services support.
How do I get cash back?
The payment will differ for each member depending on their cover.
Members should expect to see the savings hit their bank accounts later in the year.
HCF said it will notify customers with details on the amount they will receive.
In the meantime, HCF, RT Health and Transport Health members are encouraged to log in to the HCF website or via the My Membership app to check their bank account details are correct.
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