Giving back to our members
As the COVID-19 pandemic has continued to evolve, so has the support we’ve provided to our members and the community. We’re pleased to announce we’re giving back claims savings of $15 million through premium relief to our Australian resident health insurance members in the form of a one-off COVID credit.
What is the COVID credit?
Last financial year we were required by our industry regulator to set aside funds to pay for any catch up in elective surgeries after COVID-19 restrictions were lifted. The expected claims experience for financial year 2021 didn’t happen and we’ve been able to return claims savings to you in the form of a one-off credit. This credit will be automatically applied to your next premium payment from 6 September 2021.
How much is the credit and when will it be applied?
The credit has been calculated based on your level of cover as at 30 June 2021. This amount will be applied to your policy as a date paid to adjustment by 30 September 2021. You’ll be able to see this in your payment history, which can be viewed in your member account. We’ll contact you in the coming weeks to confirm the amount you’ll be receiving.
How else are we supporting our members and the community?
So far, we’ve invested approximately $60 million in our COVID-19 member and community support package. Our previous package initiatives, which included expanded coverage for COVID-19 related treatment and an additional psychology benefit on Extras products, has been extended to 31 December 2021.
Telehealth is here to stay
The telehealth services that we introduced during the pandemic to help members access a range of Extras services are here to stay.
Giving back to our membersAs the COVID-19 pandemic has continued...
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