HBF customers' windfall from fewer claims

Customers of health insurer HBF will receive a small payment after the non-profit group confirmed it will share the benefits of fewer claims from the COVID-19 pandemic.

HBF on Wednesday said almost half a million hospital and extras policyholders could receive a payment of between $31 (extras only) and $140 per policy (hospital and extras).

The insurer put $94.3 million aside last financial year to deal with elective surgery claims deferred during the height of the pandemic.

Yet the number of claims did not reach those expected, leaving a $40 million surplus.

HBF boss John Van Der Wielen said claims for elective surgery increased after coronavirus safety restrictions were eased, but the expected surge did not eventuate.

HBF said it will confirm payment amounts later.

Customers eligible for the payments must have had a respective policy during March 23 to June 30 last year.