Medibank will distribute a further $25 million in customer rebates as part of its COVID-19-related financial support efforts, increasing its total pandemic-era give-backs to $1.64 billion.
The allocation is part of the health insurer’s long-standing position to return funds generated through lower-than-expected claims activity during the pandemic.
Under the latest phase, Medibank members eligible for the Live Better rewards initiative will receive 5,000 points – valued at $50 – during June 2025.
These points can be used toward a selection of retail vouchers or applied to reduce out-of-pocket expenses at designated dental and optical providers.
Milosh Milisavljevic, Medibank’s chief customer officer, said the rebate reflects a continuation of the company’s earlier public commitment to neutralise any financial gains linked to COVID-19.
“While the pandemic feels like a long time ago, claims levels are still slightly lower due to the impacts of COVID. We made a commitment in 2020 that we wouldn’t profit from the impact of COVID-19 and that we’d return savings to customers,” he said.
He added that the Live Better rewards initiative serves dual purposes: promoting positive health behaviour and addressing cost-of-living pressures for policyholders.
Members can redeem points for items including Amcal and adidas vouchers or apply them toward no-gap services via Specsavers or Members’ Choice Advantage dental providers.
The program offers potential annual rewards of up to $400 for customers engaging in physical activity, nutrition tracking, or mindfulness practices.
To receive the reward, members must hold an eligible hospital or extras policy as of June 30 and be aged at least 16. Points will be credited to members’ Live Better accounts by July 31.
Redemption can be made through the Medibank app or website, with full access provided to current and new Live Better participants at no additional cost.
Further instructions will be issued to customers in June via direct email communication.
Medibank said that this distribution will not influence the group’s operating result for the 2025 financial year (FY25), as the rebate is drawn from a dedicated COVID-19 reserve fund.
The company also intends to conclude its pandemic-related give-back scheme by the end of FY25.
Following the Live Better rewards release, any remaining net permanent savings from pandemic-era claims – as of June 30 – will be returned to customers, consistent with the group’s previously stated policy.
Earlier this year, Medibank confirmed a separate $160 million cash payment to be disbursed to eligible customers in September.
