Australian health insurance company HBF is giving back $110 million in health insurance claims savings to members.
The funds are part of the insurer’s COVID-19 related savings being returned to customers.
On Tuesday, the not-for-profit insurer announced the savings would start to be deposited into bank accounts of eligible customers.
For more Personal Finance related news and videos check out Personal Finance >>
The payments range from $45 for singles holding an extras-only policy up to $330 for families holding a hospital and extras policy, in line with what was announced in March 2023.
HBF chief executive Dr Lachlan Henderson hopes the payments will support members at a time when Australian households are dealing with rising cost-of-living challenges.
“The payments are part of a 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,” he said.
“We are returning this round of claims savings via a cash payment, after our members told us in surveys they would prefer the simplicity of having the money directly in their bank accounts rather than returned via premium increase deferrals.”
How do I get cash back?
HBF announced in March 2023 that members who held an eligible active policy on March 1, 2023 and remained with HBF when payments are made would receive the cash payments.
The insurer is communicating to eligible members directly about the amount they should expect to receive.
For more information and to update bank details, customers should visit the insurer’s website.
If you’d like to view this content, please adjust your .
To find out more about how we use cookies, please see our Cookie Guide.
