HCF to return another $40 million in COVID-19 savings to members

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HCF will return another $40 million in COVID-19 savings to members, bringing this year’s total cash giveback to $176 million.

HCF said that since the start of the pandemic, it has provided over $536 million in total support and benefits to members.

“We recognise the current pressures on household budgets being faced by our members and have kept our promise to continue passing on any COVID-19 savings,” said CEO Sheena Jack.

“This additional cash back is another way HCF is putting its money where our members are, not only through great value cover, but support when and where it counts.”

HCF, RT Health, and Transport Health members will receive funds deposited directly into their accounts later this year.

HCF said that throughout and following the pandemic, it has frozen premium increases three times, provided, $309 million in cash givebacks, premium relief to 46,273 members experiencing financial hardship, and increased cover for mental health services.

Ms Jack continued, “Our strong commitment to protecting Australians’ health hasn’t changed for over 90 years. We do what we do for our members not shareholders, it’s that simple.

“As we continue to give back more for our members, we remain committed to keeping premiums affordable and ensuring they can access the quality care and support best suited to their needs.”

HCF, RT Health, and Transport Health members will be notified with specific cash giveback details in late September.