HCF members, Bupa will receive a share of $285 million in cashback

Five million Australians are set to receive practical financial help from two of Australia’s largest health insurance providers.

Earlier this month, HCF announced it was returning $130 million to customers as part of a Covid savings plan.

The amount is part of a $300 million pandemic support package the company rolled out for members in response to Covid-19 to increase healthcare services while keeping them affordable.

HCF has around 1.8 million Australians using it, so the average customer will receive around $72, although members have different policies which would entitle them to much less or more.

The money should arrive before Christmas.

Meanwhile, next month, 3.4 million Bupa users will also get a welcome reprieve from the cost of living crisis with payments of between $16 and $118 to be deposited into their accounts.

Like HCF, Bupa also has a refund policy, planning to give back $155 million to Australians from October.

Deliver more live and on-demand financial news with Flash. More than 25 news channels in one place. New to Flash? Try 1 month free. Offer ends October 31, 2022 >

Last weekend, HCF chief executive Sheena Jack announced the $130 million restitution program.

She said the health fund’s $300 million support package involves its reimbursement program, which is expected to hit eligible members’ bank accounts by December.

Other supports have also been doled out over the last two and a half years of the pandemic, including twice postponing health coverage increases, providing free mental health checks and ensuring that hospitalizations related to Covid don’t cost more.

“Given the changing landscape of healthcare over the past three years, it’s only right that we work hard to find more ways to give back and help members manage the rising cost of living pressures. “said Ms Jack.

Members will be notified in November if they are eligible and indicate the amount they will receive.

Bupa customers will share $155 million as part of the health fund’s second round of reimbursements from Covid-related savings.

The scheme, announced in June, applies to all Australian residents who had Bupa private health cover for at least three months between July 1 last year and June 30 this year.

However, ambulances only and foreign visitors and students are not part of the program.

Customers living in NSW and Victoria will receive the biggest share of the giveaway.

The healthcare giant said this was because they were less able to use hospital and ancillary services due to prolonged Covid-19 restrictions.

Bupa Health Insurance chief executive Chris Carroll told those eligible: “I encourage our customers to ensure their contact details are up to date so they can receive their cashback as quickly as possible.”

Bupa’s first donation program saw it distribute $120 million to customers.

Comments are closed.