Bupa has announced it will double its planned cashback to its customers who will now share in $315 million in COVID-19 released savings.
The company said the total $315 million total cashback represents an extra $160 million on top of the $155 million announced in June this year.
It said this takes the total announced financial support to customers since the start of the pandemic to around $800 million.
Bupa will start paying the cashback in October, with Bupa’s 1.7 million eligible policyholders to receive between $35 and $314, depending on their policy and location.
Bupa Health Insurance managing director Chris Carroll said the company made a pledge to its customers at the start of the pandemic that it would not benefit from COVID-19 and is honouring this commitment.
“This cashback will be a pre-Christmas boost to help with those additional costs that can mount up towards the end of the year," said Mr Carroll.
This cashback will be available to all domestic Australian resident policyholders who had private health cover with Bupa for a minimum of three months between 1 July 2021 and 30 June 2022, excluding ambulance only and overseas visitors and students with hospital cover.
The savings will be returned as a cash payment to eligible policyholders using the same bank details from the previous cashback.
“We want this money to land in our customers’ bank accounts as soon as possible, so I encourage anyone whose banking details may have changed since the last cashback to update their details via the Bupa website,” added Mr Carroll.