{"id":89793,"date":"2024-07-10T04:00:00","date_gmt":"2024-07-09T18:00:00","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/?p=89793"},"modified":"2024-07-03T17:03:13","modified_gmt":"2024-07-03T07:03:13","slug":"gmhba-returns-62-million-in-covid-savings","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/news\/gmhba-returns-62-million-in-covid-savings\/","title":{"rendered":"GMHBA returns $62 million in COVID savings"},"content":{"rendered":"

GEELONG-based private health insurer GMHBA has announced it will return $62 million in COVID-19 related savings to GMHBA and Frank Health Insurance members.<\/p>\n

The funds will be returned to members after disruptions to health services during the pandemic led to a drop in claims.<\/p>\n

GMHBA chief executive officer David Greig said he hoped the funds would support members feeling the cost-of-living pressures.<\/p>\n

“We are proud to be Australia’s leading regional not-for-profit private health insurer, and we are genuine about caring for our members and their families.<\/p>\n

 <\/p>\n

\"\"
GHMBA CEO David Greig. Photos: SUPPLIED<\/figcaption><\/figure>\n

 <\/p>\n

“During the pandemic, we set aside funds to pay for claims that had to be postponed as we expected our members would seek treatment in the future.<\/p>\n

“As not all treatments have occurred, we have generated increased reserved funds, and as a not-for-profit, we have been committed to returning to members any excess profits due to COVID.”<\/p>\n

Since 2020, the health insurer has upheld its commitment in returning profits generated from the pandemic to members, also passing on a premium relief last year.<\/p>\n

“Australians have experienced a really challenging few years, and we hope the impact of this decision will be a welcome reprieve,” Mr Greig said.<\/p>\n

“GMHBA offers members access to a range of programs and educational resources that can support and enrich their lives, complementing their private health insurance.<\/p>\n

“We are grateful for their continued support and are pleased to uphold the commitment we made during the pandemic.”<\/p>\n

GMHBA Limited will get in touch with GMHBA and Frank Health Insurance members about the return in the coming weeks.<\/p>\n

For members who pay monthly, their premium will be waived in October and they will pay a reduced fee in November.<\/p>\n

Polices paid in advance will have the paid-to date moved forward seven weeks.<\/p>\n

The average contributions is $164 for members on single policies, and $344 for family policies.<\/p>\n

For more information on the refunds, head to gmhba.com.au<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

GEELONG-based private health insurer GMHBA has announced it will return $62 million in COVID-19 related savings to GMHBA and Frank Health Insurance members. The funds will be returned to members after disruptions to health services during the pandemic led to a drop in claims. GMHBA chief executive officer David Greig said he hoped the funds […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":220,"featured_media":89794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-89793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nGMHBA returns $62 million in COVID savings - Bellarine Times<\/title>\n<meta name=\"description\" content=\"GMHBA returning $62 million in COVID savings to members! 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