Give Back FAQs
Q 1. Why is Navy Health giving back money?
Throughout the COVID-19 pandemic, many members were unable to access health services or receive treatments. This resulted in a reduction in claims paid to our members. As a not-for-profit and member-centric fund, Navy Health has decided to return the claims savings to our members.
Q 2. How much is Navy Health giving back?
Navy Health has claims savings pool of $2,705,000 which we plan to return to members, which equates to 2.7% of our FY 21 premium revenue. To date, this is one of the highest member give-back proportion against premium revenue in the industry relating to COVID-19.
Q 3. Who is eligible to receive the Give Back?
All members (current or previous) that paid a contribution between 1 April 2020 to 31 March 2022 are eligible to receive the Give Back to their nominated bank account.
Q 4. Why are you doing a cash back, why can’t you just stop price rises for a while?
As a not-for-profit and member owned private health insurer, Navy Health put our members first. It was decided that the most equitable and fair approach was to provide a give back, in the form of money to our members. It allows them to spend their money, on whatever they choose. In addition, the amount each member will receive will depend on the policy coverage during the period between 1 April 2020 to 31 March 2022 – this offers a more equitable and fairer outcome for our members.
Q 5. Where is the Give Back Money from?
Throughout the pandemic, across Australia, our members encountered various restrictions, including the cancellations of elective surgeries and the restricting or closure of allied health services. Due to this, Navy Health has spent less on claims, and this has resulted in Covid-19 savings. As we are member focused, not for profit Private Health Insurer, we would not take advantage of the pandemic for our own benefit, which is why we are now making these payments to our members.
Q 6. How was my amount calculated?
Your give back amount has been calculated based on the amount paid into your membership between 1 April 2020 – 31 March 2022. All members that paid any contribution during this period will receive a give back amount.
Q 7. I am no longer with Navy Health, why are you giving back me money?
Navy Health is providing a give back amount to all policies that contributed between 1 April 2020 and 31 March 2022 and this includes members that are no longer with Navy Health.
Q 8. Why can’t I get a cheque?
Issuing bank cheques can be inefficient for members and Navy Health, and in most cases, it takes longer for the money to reach the members than a direct bank transfer. To maximise the amount of the give back amounts and reduce delays to members, Navy Health will only deposit via direct deposit into your bank account.
We will not provide cheques in any circumstances and your Give Back amount will be given to charity should we not receive your banking instructions in time.
Q 9. Why is my amount so small?
All members who contributed (paid) into their Navy Health policy between 1 April 2020 – 31 March 2022 will receive an amount. The value of the amount is based of the amount of premium that has been paid during that time i.e. if you have paid a months’ worth of premiums on a gold hospital policy, you will receive less than a member who has paid 12 months of premiums for the same policy type. The minimum amount any policy received was $10.
Q 10. Why is someone (in another state to the member) being treated the same as me, when they didn’t experience as many restrictions where they live.
All Navy Health members have experienced the pandemic differently. Due to the various scenarios and the complexities that would be involved in calculating the Give Back, Navy Health decided on the fairest and simplest approach, which was to treat all members the same, regardless of their experience.
Q 11. When will I get my money?
Navy Health will make the payment on or before 30 June 2022. It will be paid directly into the bank account we have on file.
Q 12. Can you credit the money to my membership?
The money will only be deposited into your bank account. Should you wish to pay it to your policy, you can do so via the Online Member Services Portal.
Q 13. Will each person on my policy receive the Give Back?
No. The Give Back is calculated on a per policy and the amount that was contributed between 1 April 2020 and 31 March 2022.
Q 14. I am not comfortable giving my bank details, I do not want them used for benefit refunds.
Providing your bank details is the only way Navy Health will be able to provide you with your Give Back amount.
Navy Health has strong controls, processes and security measures in place to handle this type of sensitive information. Information or data provided to Navy Health will be securely and strictly managed in accordance with regulatory requirements and industry practices.
If you require additional information about the safety of providing your bank account details, please speak to your bank. If you wish to provide your details to receive the Give Back amount, then delete or change them at a later stage, you can do so via the Online Member Services Portal.
Q 15. What happens if I don’t update my banking details before the specified dates?
Members who have not updated their bank details by 30 May 2022 (via email) or 15 June 2022 (via letter) will no longer be eligible to receive the Give Back payment. Navy Health will donate the Give Back amount to an Australian Defence Force related charity.