Melbourne, 8 April 2022 – AIA Health has extended its unique offering to members for a third consecutive year, offering refunds to those who have been unable to use their extras due to COVID-related disruptions.
The health insurer has announced it will again offer refunds on premiums paid for extras, less any claims made between 1 January and 31 December 2022. This step provides certainty that members will continue to be financially protected in the event of disruptions which limit their access to extras services such as dental, physiotherapy and optical. This announcement follows the recent confirmation that AIA Health has deferred its annual premium increase from 1 April until 1 September 2022.
AIA Health's 'Extras Value Protect' initiative was first introduced in 2020 as an intended one-off benefit to support customers during COVID-19. AIA Health extended the initiative in 2021, and again this year, acknowledging that grounds for the benefit still exist, as the pandemic enters its third year.
Through Extras Value Protect, members can unlock and enhance their refund amount by engaging with AIA's world-leading, science-based health and wellbeing program, AIA Vitality. The refund amount is determined by the member's AIA Vitality status. Platinum AIA Vitality members can receive up to 100 per cent refund on Extras, Gold members up to 75 per cent and Silver members up to 50 per cent. Eligible members have been notified of their refund amount and will receive their refunds in early April 2022.
There has been an increase in members getting value from their Extras services following the lockdowns of 2020 and 2021. In 2020 and 2021, the EVP benefit provided considerable support for AIA Health members, and the insurer believes it is important to run the initiative again in 2022. With the average refund amount equaling $225, the initiative provides a safety net for those who are still restricted in their ability to access these services.
AIA Health Insurance Chief Executive Officer and Managing Director, Damien Mu said, “Our purpose is to make a difference in people's lives. It's been a challenging start to 2022 for many Australians facing cost-of-living pressures, and it's important that we continue to be there for our customers during difficult times.
"Extras services help to prevent and minimise health issues. It has been positive to see that our customers' engagement has increased since 2020, but we appreciate that there are still some members of our community who face challenges in accessing their Extras during the pandemic.
"We're pleased to continue our Extras Value Protect initiative in 2022. By refunding unused Extras premiums, we can support our customers by helping them manage the costs of their insurance which protects and rewards them for leading a healthier, longer, better life."
For more information, please visit https://www.aia.com.au/en/individual/health-insurance/member-benefits/extras-value-protect.html