HCF has announced it will give back a further $136 million in COVID-19 claims savings to its members.
The latest amount means HCF will have provided its HCF, RT Health, and Transport Health members with a total of $495 million in COVID-19 claims savings.
“As a not-for-profit we are continually putting our money where our members are, and this is another key example of how we put our members before profit,” said HCF CEO Sheena Jack. “We received a lot of positive feedback about our cash give back prior to Christmas last year. This time, members should expect we’ll return the pandemic savings into their bank accounts later in the year again.”
Jack said giving back COVID-19 pandemic-related savings aims to make health insurance more affordable amid rising cost-of-living in Australia.
“I am really pleased that we can pass on the COVID savings in full to our members, especially at a time when they’re feeling financial pressure on many fronts,” Jack said. “Regardless of the pandemic situation, HCF still paid out almost $3 billion in hospital and extras claims last financial year with 98% of medical services covered in hospitals with no or a known gap, further supporting members in their time of need.”
HCF, RT Health, and Transport Health members will be notified with specific details on the amount they will receive.
In February 2023, HCF and other private health insurers postponed premium increases.
