HCF will return an additional $130 million in pandemic-related savings before the end of the year.
The insurer said the savings form part of a larger support package it has provided to members with HCF and rt health policies since the start of the pandemic. It said this support has included both financial and increased health services support.
CEO Sheena Jack said the return of additional savings was part of HCF’s ongoing commitment to making health cover more affordable and accessible for its members.
“Given the changed healthcare landscape over the past three years, it’s only fair we work hard to find more ways to give back and to help members manage mounting cost of living pressures,” said Ms Jack.
“A strong commitment to putting our members before profit remains a guiding force in all of the decisions we make for our members."
HCF said it has provided more than $300 million in total benefits and support during the pandemic, including postponing premium increases, premium relief for people experiencing financial hardship, COVID-19-related hospital admissions covered, and an expanded range of services.
It said members will be notified in November with specific details on the amount they will receive and how the savings will be returned.