Giving back to members
Updated 23 June 2023
Since the outbreak of the pandemic, Teachers Health Group* has maintained that any claims savings due to COVID-19 will be passed back to members.
In 2023, approximately $55 million will be returned to eligible members in one-off payments as part of our latest COVID give-back initiative. This follows our deferral of 2023 premium increases until October 1, saving members approximately $14 million.
Our 2022 give-back saw around $31 million in COVID-savings returned to eligible members.
Our latest give-back announcement takes the total of our COVID support package to approximately $134 million.
COVID support measures include:
- COVID savings give-back – around $55 million in 2023 and $31 million in 2022 via one-off payments.
- Premium increase freezes – delayed 2023 premium increases until October 1, saving members an additional $14 million. Premium increases were also postponed in 2020 and 2022.
- Extras benefits rollover – unused 2021 Annual Extras Benefit Limits were rolled over to 2022, enabling members to claim for services they may have foregone during COVID restrictions.
- Cover for COVID-19 – members on all levels of Hospital cover were covered for COVID admissions, including cover for any adverse reaction or side-effect to a COVID vaccine which required admission to hospital#.
- Ante and postnatal support boost – the New Families Program was made available to more families with Hospital cover. This expanded eligibility is also here to stay!
Financial hardship assistance – members who were struggling financially due to COVID could apply to suspend their cover, without having to reserve waiting periods when they reactivated their membership#.
* Teachers Health Group includes Teachers Health, UniHealth and Nurses & Midwives Health
# Ended 31 December 2022