Bupa customers eligible to receive share of $75million cashback
Almost two million Australians will get an early Christmas present this year – a share of $75million being given back to customers by a private health insurer.
Bupa from November will be giving 1.8million of its eligible customers cash back ranging between $47 and $344 depending on the type of policy they hold.
The insurer said customers do not need to do anything and will be notified by email of the exact amount and the cash will be sent the same way they normally collect their insurance rebates.
Those entitled to the payments are domestic members who held an active Bupa hospital and/or extras policy or an international member who held an active Bupa domestic extras policy for 90 days during the past financial year.
International members who held an Overseas Visitor Cover (OVC) hospital policy, Overseas Student Health Cover (OSHC) hospital policy, did not have a domestic extras policy, or held an ambulance-only policy are not entitled to the payments.
Health Insurer Bupa is returning $75million to customers as the latest in a series of cashbacks as high inflation puts pressure on household budgets
The cashback offer is the latest in a series by Bupa who have been returning a small share of company profits to help with rising household costs amid high inflation and offset members being unable to access some health services during the Covid pandemic.
Earlier this year the company returned about $320million to customers in a similar cashback and in June they put a six-month freeze on some policy premiums which in total was worth about $154million.
Bupa Health Insurance Managing Director Chris Carroll said members would receive the money at a time of year when household expenditure usually increased, especially against the backdrop of high inflationary pressures.
‘We’re topping up our members’ cashback to a total of $395 million which we hope will support them through the current cost of living challenges, and with their health and wellbeing,’ he said.
‘The money will go directly into our members’ bank accounts, giving them more choice to use the money in a way that is most valuable to them.’
Mr Carroll added customers should make sure their bank details were correct to ensure they received the refund promptly.
‘The money will be paid using the same bank details from the previous cashbacks, so I encourage our members to make sure their details are up to date with us,’ he said.