Cashbacks are making a comeback

If we have your up-to-date bank account details for receiving benefit payments, you'll receive a direct credit into this bank account.

If we don’t have your bank account details, we will need these to make the payment.

You can update your details in the HBF App or by logging into myHBF.

Note: HBF no longer makes cheque payments. 

Current HBF policyholders who held a Hospital and/or Extras policy on 1 March 2023 and remain with HBF when payments are made will be eligible to receive this payment.

Payments will be made from June 2023.

HBF will make payments to eligible policyholders from June 2023.

We will require your direct credit details to make the payment into your bank account and will notify you via email or letter to confirm that we have made the deposit.

You can update your bank account details in the HBF App or by logging into myHBF.

Note: HBF no longer makes cheque payments.

HBF estimated a deferred claims provision totalling $110 million relating to Hospital and Extras services members could not access while COVID-19 control measures were in place but were expected to be claimed at a later date.

Now that claims have normalised, HBF has a balance of $110 million that we will be returning to almost half a million policyholders who held cover on 1 March 2023.

To calculate the amount payable to each eligible policy, HBF considered the following:

• the total amount to be disbursed, 
• the total number of policies eligible to receive a payment,
• membership type (Single, Parent Plus, Couple, Family) on each policy, and
• the type of cover (Hospital and/or Extras) held on each policy.

Based on the considerations noted above, HBF will be making a payment of between $45 and $330 per policy.

This payment is in lieu of health insurance benefits that members could have claimed; it is not a refund of health insurance premiums that members paid, so it does not change the health insurance premium that you can claim a rebate on.

As this payment is in lieu of health insurance benefits that members could have claimed, it is not taxable income.

If you need advice on filling out your tax statement, we encourage you to talk to your tax agent.

No, HBF will send your payment via direct credit. You can then use the money how you like, including paying your health insurance premiums or donating it if you wish.

Our members have told us in surveys that they would prefer the simplicity of having any COVID-19 savings paid directly into their bank accounts, which is why we are sending these payments directly into eligible members’ bank accounts.

Premium increases are to ensure we can pay future claims. This year’s premium increase covers claims for the period starting 1 April 2023.

This payment is from claims funds that were not utilised due to the temporary suspension of elective surgery procedures and Extras services.

Our members have told us in surveys that they would prefer the simplicity of having any COVID-19 savings paid directly into their bank accounts, which is why we are sending these payments directly into eligible members’ bank accounts.