50% premium reduction accessed by thousands of Medibank customers on JobKeeper or JobSeeker support

- Medibank is putting more money back in the pockets of customers in financial hardship ahead of 1 October premium increase.

- Medibank’s total financial customer support during COVID-19 has reached more than $185 million.

Thousands of Medibank and ahm customers on JobKeeper or JobSeeker have already accessed a 50% waiver on their premiums for up to 6 months, saving them on average around $800.

Medibank and ahm has now further strengthened the hardship support for customers impacted financially by the pandemic lockdown in areas that have been declared a state of disaster due to COVID-19, which right now is Victoria.

Those customers on eligible cover, who are not receiving government support payments but are still financially impacted by COVID-19 will soon be able to access a 10% discount on their premium for 3 months, which is on average a $100 saving. This represents on average, more value for those customers than a 6-month premium postponement.”

Chief Customer Officer David Koczkar said more than 30,000 customers have so far accessed our hardship relief package.

“With our 6-month premium postponement about to end on 30 September, we want to ensure we continue to support our customers who are in financial hardship due to COVID-19," Mr Koczkar said.

“While the average value of the 6-month premium postponement which we gave to all customers was $70 per policy, for those doing it tough we continue to have options that can save them more. This includes a 50% premium reduction for customers on government support payments like JobKeeper or JobSeeker which saves them on average $800.

“But we also know that there are some customers under financial stress due to COVID-19, but who are not eligible for government support payments. So for those customers living in an area declared a state of disaster, which is currently Victoria, they can save an average of $100 off their premiums.

“Thousands of customers are already benefitting from the 50% premium waiver and it’s wonderful to hear the difference it has made. Customers have told me it’s given them peace of mind knowing they have access to their health cover if they need it and that it’s one less thing for them to worry about.

“Not everyone is in financial hardship, that’s why we are targeting support to those people who need it.”

The hardship measures introduced since the onset of the COVID-19 pandemic include the option of a 3-month cover suspension, the 50% waiver on premiums for 6 months, and a 6-month postponement of the premium increase for all customers and now a 10% premium discount for 3 months in areas declared a state of disaster.

Medibank and ahm has announced more than $185 million in customer support during COVID-19 including:

• Postponing premium increases to 1 October 2020 for all customers.
• Extending extras to include telehealth services for 7 allied health services such as psychology and physiotherapy.
• Paying benefits towards chest, heart, lung and kidney hospital admissions, including those related to COVID-19, regardless of an existing customer’s level of hospital cover – expanding coverage for 1 million Medibank and ahm customers.
• Launching COVID-19 Health Assist, a program of customised health and wellbeing support for customers, including the most vulnerable.
• Introducing Live Better at Home to give all Australians access to a free online program of work out videos, cooking demonstrations and guided meditations, and partnering with Smiling Mind on a program to help foster positive mental health habits among Australian families.
• Donating $5 million to Beyond Blue for its new COVID-19 mental wellbeing and support service.
• Extending access for ahm customers to Medibank’s 24/7 nurse and mental health lines.
• A 12-month extension to most unused annual extras limits for ahm customers, excluding optical and non-annual limits, valued at around $10 million.
• Employing around 680 temporary frontline clinicians in response to increased demand for telehealth services including the national COVID-19 line.
• Funding a number of projects researching the impact of COVID-19.
• Supporting the Victorian Government during stage 4 lockdown measures – facilitating in-home COVID-19 testing. Assisting with contact tracing and providing services to hundreds of residents in aged care homes.

Further Information: Medibank and ahm customers impacted financially by the pandemic lockdown in areas that have been declared a state of disaster due to COVID-19, which right now is Victoria, need to apply for the new 10% discount via our website from later this month. The discount will apply from 1 October. Customers must not be currently receiving any other hardship policy discounts on their premiums to qualify for the new 10% discount.