Australian Private Hospitals Association (APHA)
Medibank’s premium return welcome – but billions still outstanding
Australian private hospitals have welcomed Medibank’s move to return $105 million in premiums to two million members, but billions of dollars in ‘deferred claims liability’ remain hidden in private health insurer’s coffers.
Australian Private Hospitals Association (APHA) CEO Michael Roff said it was good to see Medibank make good on its promise to return unspent funds, now the rest of the industry needed to step up and do the same.
“At the end of March 2021 there was $1.8 billion of unspent members’ funds sitting in health insurers’ accounts – unchanged from December 2020. While some insurers have made moves to return members unspent funds, too few have done so,” Mr Roff said.
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Covid-19 payday for Aussie health fund members Excess profits from the Covid-19 surgery ban will be returned to a million members of a major Australian health fund.
Business by Sue Dunlevy
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Subscriber only Exclusive: Excess profits from the Covid-19 surgery ban will be returned to a million members of a major Australian health fund from next month. Health fund HBF will give its members cash payments of up to $140 in July as it returns revenue it did not spend as a result of its members using fewer services due to Covid-19. The payout will cost the fund $42 million and it s a move CEO John Van Der Wielen said was the right thing to do .