Bupa has announced a cashback top-up of $75 million, taking the amount to be returned to eligible members to $395 million.
The $395 million total cashback includes the additional $75 million and the company's cashback of $320 million committed to in June this year.
Bupa said it will begin paying the cashback in November, with its 1.8 million eligible policyholders to receive between $47 and $344, depending on their policy.
Bupa Health Insurance managing director Chris Carroll said, “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.
“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.”
Bupa said its total announced financial support to customers since the pandemic started is $1.35 billion through cashbacks, premium deferrals, financial assistance for impacted customers and other support programs.
Mr Carroll said all members needed to do was check their bank details were up to date.
“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.