Mildura’s not for profit health fund, Mildura Health Fund (MHF) is returning $6 million in COVID claims savings back to eligible members who held an active hospital health insurance policy on 31 December 2021.
Gerard Op de Coul, Mildura Health Chief Executive Officer said that the decision to return unintended claims savings back to members as a cash payment was the next step in MHF’s COVID support promise to their members.
“From the beginning of COVID we committed to our members as a member owned, not-for-profit organisation, any unintended claims savings would be returned to members through various initiatives,” he said.
The payments will be available to MHF members who held an active hospital policy on 31 December 2021 and have been a member with MHF for at least three months prior to 31 December 2021.
Mr. Op de Coul said that 13,166 members could expect to receive a payment of between $178.60 and $815.67 depending on their level of cover, with an average payment of $455.72.
“We understand the current cost of living pressures our members are facing, and we hope members who receive the payments are able to use it in a way that is valuable to them.”
“As we have a national membership base, we have calculated that more than $4.2 million will be injected directly back into the local community via our local members, who will be able to support local businesses who have experienced a challenging time. We see this as a great outcome for our community”, he added.
MHF member, Mr. Graeme Tulloch said “I have been a member of MHF for over 40 years. It is reassuring to know that through my membership I can choose my health treatment providers and have minimal wait times. The peace of mind I have knowing I can access quality healthcare across Australia, in a timely manner is incredibly important to me. With MHF returning cash back to me it shows that the organisation is truly member focused and it is much appreciated.”
MHF has provided a range of initiatives back to their members part of the COVID Support Package that include:
- Deferred premium increase 1 April 2022 for six months to 1 October 2022;
- Deferred premium increase 1 April 2020 for six months to 1 October 2020;
- Rollover of unused extras benefit limits from 2021 to 2022;
- Allowing members to access telehealth benefits for a range of services; and
- Lower than planned premium increase for 2022.
Member of MHF, Mr. Phillip Kettle said “that he holds private health insurance for peace of mind, as it makes him feel safe and secure knowing he will have access to health care, when he needs it, and MHF returning cash back to him is a bonus.
Mr Op de Coul said that eligible MHF members will hear from us in the coming week via email and post to advise them how much they can expect to receive.
“Our members will receive funds directly to their nominated bank account or by cheque by the end of June”.
“We are proud to be returning funds to our loyal members. We know this cash payment will be great news for our members and it also reinforces that as a member owned, not-for-profit health fund, we are here for the benefit of our members first, not shareholders,” he added.