COVID Savings Give-Back Initiative
Teachers Health Group (incorporating Teachers Health, UniHealth and Nurses & Midwives Health) today announced approximately AUD$31 million in COVID claims savings will be distributed to members this year through one-off payments, as part of their COVID Savings Give-Back initiative.
Depending on the type of cover, members will receive between AUD$47–$242 per membership. The one-off payment will apply to all eligible members who held an active membership with Teachers Health Group as at 31 December 2021.
Payments will be rolled out during August 2022, with Teachers Health Group commencing outreach to all eligible members in July.
Brad Joyce, Teachers Health Group CEO, comments: "Since the outbreak of the pandemic, we've maintained that any savings realised due to COVID-19 will be passed back to our members. These new payments are the latest in a series of actions we've taken to deliver on that promise. With the higher cost of living putting increasing pressure on household budgets, we're proud to provide savings and support to our members at a time when it's needed most."
Previous member support initiatives include:
- Postponing premium increases for 6 months in 2020 and 2022
- Rolling over unused Extras annual limits on 1 January 2022
- Establishing permanent telehealth benefits for a range of services
- Financial hardship relief
- Cover for COVID-19 hospital admissions on all levels of Hospital cover
“Our approach reflects our commitment as a not-for-profit to deliver benefits to the over 370,000 members who put their trust in us,” says Joyce.