Australian health insurance company HCF has announced it is giving back an additional $40 million in health insurance claims savings to its members.
Private health insurer HCF has already given back a total of $536 million since the start of the pandemic to its 1.8 million Australian customers as part of their pandemic-related savings support package.
However, on Monday, the insurer announced it would give back an additional $40 million, bringing this year’s total cashback to $176 million.
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HCF CEO Sheena Jack said the additional measure is part of the insurer’s “strong commitment to protecting Australians’ health”.
“We recognise the current pressures on household budgets being faced by our members and have kept our promise to continue passing on any COVID-19 savings,” she said.
“This additional cash back is another way HCF is putting its money where our members are, not only through great value cover, but support when and where it counts.
“As we continue to give back more for our members, we remain committed to keeping premiums affordable and ensuring they can access the quality care and support best suited to their needs.”
Members of HCF, RT Health and Transport Health will receive funds deposited directly into their accounts later this year.
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 of HCF, RT Health and Transport Health will receive funds deposited directly into their accounts later this year.
These members will be notified with specific cash giveback details from late September, the insurer said.
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 or hcf.com.au/members to check their bank account details are correct.
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