Medibank’s final give back – record $1.71bn returned to customers

Medibank today announced it has finalised its COVID-19 support package and give back program, and will increase its most recent cash back commitment announced in February from $160 million to $228 million.

This will bring the total amount of support Medibank has provided to customers since the start of the pandemic to a record $1.71 billion – this is the largest financial give back from any health insurer in Australia.

Customers will receive a minimum of $50, with some receiving up to $375, depending on the level of cover they have. On average, it will be around $55 for eligible extras only policies and around $190 for eligible hospital and extras policies.

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.

“We’re proud to have stuck by that promise for over five years, and now as planned, we are finalising the give back program and returning further money to our customers.

“Over the past five years, we have returned $1.71 billion to customers, which is the largest amount from any health insurer in Australia. We have returned it through various ways, including cash backs, delaying premium increases, extras roll overs, hardship support and Live Better points.

“Customers will receive their money from September, as a top-up to the previously announced cash back. Customers will receive a minimum of $50, with some to receive up to $375 depending on the level of cover they have with us.

“Not only is this the largest give back of all health funds, but our customers have on average received more back per policy compared to other health funds.”

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 from September 2025.
• Customers do not need to do anything; we will contact them directly with details of their payment.
• This give back is being funded from COVID-19 permanent net claims savings.
• This will be Medibank's final give back, completing its COVID-19 support package and give back program.