Millions of Australians are set to receive cashback on their private health insurance as one provider begins to return COVID-19 savings to its customers.
Earlier this year, Bupa announced it would return about $120 million in COVID-19-related deferred claims to eligible customers.
This includes anyone who had private health cover with Bupa (excluding Overseas Visitors Cover, Overseas Student Health Cover and Ambulance Only policies) for at least 90 days at any stage between 1 July 2020 and 30 June 2021.
In a statement, Bupa Health Insurance managing director Emily Amos said with claims failing to return to levels that were originally anticipated, “we wanted our customers to share in these savings”.
“We are returning savings in the form of a cash payment as we know this gives our customers more choice to use the money in a way that is most valuable to them,” she said.
The company aims to contact all eligible customers to advise them of the size of their cashback by the year’s end – an amount based on the level and type of cover held on 30 June 2021.
Those on Extra Only plans can expect to receive between $15 and $30 per policy, those with Hospital Only, between $40 and $80 and those with both Hospital and Extras between $55 and $110.
The average payment is expected to be about $71.
All eligible customers should have their payments made by the end of January 2022.
How to claim
For most customers, no further action is required as funds will be returned to the nominated account where claims are paid.
However, the global health insurance provider has asked customers to ensure a nominated bank account is on record, and up to date.
Customers can wait to receive communication from Bupa outlining steps to securely update this information. Otherwise, it can be done through the Bupa website, or by calling 1300 135 623 via the self-service portal.
To contact the team directly, customers can call 134 135.
Customers are reminded that they will never be asked to directly reply to an email with their bank account details.
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