Cashback for Customers with Active Health Insurance on 30/6/2025: ~$50 for Extras-Only, ~$130 for Hospital & Extras @ Medibank

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Cashback for Customers with Active Health Insurance on 30/6/2025: ~$50 for Extras-Only, ~$130 for Hospital & Extras @ Medibank
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easternculture on 27/02/2025 - 20:55 medibank.com.au (1579 clicks)
Last edited 27/02/2025 - 21:01 by 1 other user

Time to set a reminder to churn to medibank in June

Medibank today announced it will return a further $160 million to customers as part of its COVID-19 support package and give back program.

Eligible Medibank customers will receive at least $50 through the cash back, with some receiving up to $255, depending on the level of cover they have. On average it will be around $50 for eligible extras only policies and around $130 for eligible hospital and extras policies.

This will bring the total amount of support Medibank has provided to customers since the start of the pandemic to a record $1.62 billion – to date, this is the largest financial give back from any Australian health insurer.

Medibank Chief Customer Officer Milosh Milisavljevic said:

“At the start of 2020, we made a commitment that we would not profit from the pandemic while our customers’ ability to claim on their health insurance was impacted.

“While COVID restrictions have eased over the past couple of years, we are still seeing slightly lower than expected claims levels, which is why we are announcing we’ll be returning more money to our customers.

“This will bring the total amount of support Medibank has provided to customers to $1.62 billion through our COVID-19 give back program, which is the largest give back of any Australian health insurer to date.

“We know that many household budgets are under a lot of pressure with rising cost of living, and we hope this extra money provides some relief for our customers.”

This give back is being funded from COVID-19 permanent net claims savings and reduces the COVID-19 reserve balance by $160 million (pre-tax). It will not impact Medibank’s Group operating profit for the 12 months ending 30 June 2025.

We expect to finalise the customer give back program in FY25. Any remaining COVID-19 permanent net claims savings as at 30 June 2025 will be returned to customers.

Further information

  • Resident Medibank customers holding an active hospital and/or extras policy on 30 June 2025 will be eligible for the cash back.
  • Eligible Medibank customers will receive their cash back by the end of September 2025.
  • Customers do not need to do anything; we will contact them directly with details of their payment.
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Comments

  • digitalane on 27/02/2025 - 21:28

    Same amount whether we’ve held for 1 day or 10 years?

  • ArtVandelay81 on 27/02/2025 - 22:28

    Wonder if ahm will do the same?

    • digitalane on 27/02/2025 - 23:41

      Hope so - i;d like to join AHM on June 30 so extra reset July 1

      • Miss B on 28/02/2025 - 00:19

        It doesn't matter what day you join AHM, it can be 30/06, 01/07, 04/08 etc. From 01/07 only claims with a date of service from 01/07 onwards will count towards your 25-26FY limits. It's not a reset so much as you have a separate limit for each year, which is financial year for AHM.

        • Laundryboy on 28/02/2025 - 00:38

          Let’s say if I m with Medibank( I claimed my benefits prior to 30 June ) and I joined AHM on 30th June, on the 1st July I can claim again. In Dec I can join hbf or frank etc then it resets again on 1st Jan. This essentially means I can claim benefit twice a year ?

          • Miss B on 28/02/2025 - 07:09
            +4

            @Laundryboy: Yes, but you don't have to change before the 'reset' date for your limits to 'reset'. If you claim anything with Medibank with a date of service after 30 June it will be deducted from your AHM 25-26 FY limits when they receive your transfer certificate, but anything with a date of service on or before 30 June will not affect your AHM 25-26 FY limits.

        • digitalane on 28/02/2025 - 10:28

          Ok maybe I misunderstood. I thought you could max out your extra between Jan and June, move to AHM by June 30, then get extras reset from July 1?

          • Miss B on 28/02/2025 - 11:44
            +2

            @digitalane: You can do all that, but it doesn't really matter when you change to AHM. Your AHM 25-26FY limit is only for services between 1 July 2025 and 30 June 2026, so any claims before that won't come out of that limit. Depending on how long after the service your health fund allows you to claim, you can claim services you had in previous years and they will come out of your previous year limits. They don't reset (though that terminology is often used), each year just has a distinct limit that is only for services you have in that year.

            • b0b0 on 21/03/2025 - 23:21

              @Miss B: Hi Miss B, thank you, that's mindblowing. I was in the same boat and am thinking to forgo this cashback by Medibank on 30/Jun just to reset my limits with AHM..

              Thanks for sharing the gold nugget.

              Does that mean if I make a medibank claim before 30/June, switch to AHM, then switch to BUPA, BUPA will have the record of my medibank claim and it count towards the calendar year 2025 limits for BUPA?

              • Miss B on 24/03/2025 - 07:22

                @b0b0: That is trickier to answer. There are some things that apply for all funds, this may not be one of those. I don't know the inner workings of these particular funds. It is trickier again because AHM is owned by Medibank. It is possible AHM may record your Medibank claims from before 1 July and pass them on to Bupa. I don't think they would. I know some funds definitely don't and at least one is definitely unable to.

                Another consideration is if you need to provide your Medibank transfer certificate to Bupa for longer waiting periods. AHM will only provide details of your cover with them. So if you have hospital cover and need to claim for a pre-existing condition or are claiming optical or something with a longer waiting period they will need your Medibank transfer certificate.

                I would generally advise people with hospital cover to make sure their current fund has a minimum of 12 months of transfer certificates, it can be very stressful for people if they need to go to hospital unexpectedly and their current fund doesn't have details of their previous cover so is unable to say for sure they are covered. If they're not received before the claim is received the claim could be rejected or you may be asked to complete additional paperwork. Having said that, if you understand how it all works and know for sure whether you are covered it will all get sorted out in the end.

                • b0b0 on 25/03/2025 - 19:38

                  @Miss B: Cheers I now understand the driving factors and dependencies. The risks are clear after your explanations above, many thanks!

  • alan737 on 28/02/2025 - 01:51
    -3

    I had around five years of hospital and extras cover with Medibank and am now switching to another provider. I'm unsure if I'm entitled to receive this.

    • LLK on 28/02/2025 - 08:31
      +3

      Medibank customers holding an active hospital and/or extras policy on 30 June 2025 will be eligible for the cash back.

  • alan737 on 28/02/2025 - 01:52
    -3

    I had around five years of hospital and extras cover with Medibank and am now switching to another provider. I'm unsure if I'm entitled to receive this.

    • Wildesy on 28/02/2025 - 02:23
      +7

      You’re switching to another provider and you’re wondering if you’ll get this Medibank rebate that triggers June 30…?

      • LLK on 28/02/2025 - 08:31
        +2

        Medibank customers holding an active hospital and/or extras policy on 30 June 2025 will be eligible for the cash back.

  • Eeples on 28/02/2025 - 02:31

    Many would prefer that they paid decent rebates on pharma such as Mounjaro.

    • Delta4 on 28/02/2025 - 09:28

      100%

    • digitalane on 28/02/2025 - 10:29

      Do they pay anything? I didn’t even think of trying to claim mine - but at $539 a month it would be nice!

      • U30004 on 02/03/2025 - 10:19
        -2

        $539 a month???? Omg

  • VQLD on 28/02/2025 - 09:35

    pay for 3 month (Jul-Sep) to get $100 back?

  • SYLTB on 28/02/2025 - 10:09

    That's what I was after cause: I always get $50 worth of health insurance, alcohol and petrol ;)

  • dlovep on 28/02/2025 - 11:25
    +1

    The maximum cashback I’ve ever received from them is equivalent to half a month's membership fee. The rest are peanut or crumbs.

  • tunzafun001 on 28/02/2025 - 11:28

    Just stopped my change over to MP in time….cheers.

    BUT…guessing with the April price rise, we will see a few May/ June offers.

    • U30004 on 02/03/2025 - 10:23

      I switched to MP yesterday, they will give y weeks free after 42 days and 50k live better points, which i will use to get an apple watch that i can sell for 300. so thats another 4 weeks free. Takes me into june and on 30th june get the cashback,, then switch to another.

      • legelas on 03/03/2025 - 12:44

        which one is MP if I might ask?

        • U30004 on 03/03/2025 - 13:01

          Medibank

  • Drakesy on 28/02/2025 - 12:59

    looks like i'll be holding onto medibank for a bit longer.

    • YesPleaseThankYou on 02/03/2025 - 10:29

      Staying with Medibank just to get this pittance is craziness, especially when there are so many 'join offers' available at the moment.

      You could churn away and churn back and still be eligible for this pittance on 30 June 2025.

  • Dyl on 28/02/2025 - 16:39
    -1

    Bupa only gave me $1 on top hospital and extras lol

    (I did claim $32,000 for the year but not sure they're allowed to consider that?? It would effectively be claims-based pricing)

  • ladis on 28/02/2025 - 19:42
    +1

    Can I churn from AHM to Medibank and still get the offer?

    • Anon257 on 28/02/2025 - 22:23

      Also interested to know how many days you need to hold cover to get this cashback

      • digitalane on 28/02/2025 - 22:38

        Just need to be active on June 30 it seems (which seems weird)

  • Ehty on 30/03/2025 - 14:54
    -1

    Would it stack with this

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