Health insurance company nib is returning $40 million in healthcare claims savings to more than 600,000 Aussies, “in recognition” of members’ reduced ability to access healthcare services during the COVID-19 pandemic.
At the beginning of the COVID-19 pandemic, nib set aside funds to help cover the costs for any claims catch up once healthcare and support services returned to normal.
Managing Director of nib, Mark Fitzgibbon, said that this give back will be deposited into members’ bank accounts by the end of November.
“The give back is in recognition of members’ reduced ability to access healthcare services during the COVID-19 pandemic,” Fitzgibbon said.
“We saw a significant reduction in hospital and healthcare treatment.
“To date, the volume of catch up in claims has been lower and slower than expected, which is why we’re able to return a further $40 million to our members.”
The payment amount nib members receive in November will depend on their level of cover and policy.
Members with Hospital and Extras combined policies will receive an average amount of $71 back, while those with Hospital Only policies will receive $47 and those on Extras Only policies $15.
In addition to the $40 million dollar return scheme, nib will also increase its investment in target health management programs by $5 million, such as support services to manage mental health, cancer treatment, diabetes, cardiovascular and weight loss.
The company aims to deliver better health outcomes for members as part of its Payer to Partner program.
“This was an extraordinary period that had wide reaching impacts across society and nib’s
COVID-19 support package now totals around $145 million,” Fitzgibbon said. “Further support may be offered in the future should circumstances allow.
“In healthcare, we are hoping for a return to normal, better health and wellbeing for our members, their families, and the communities we serve.”
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