Retirement Income

Wed, 6 Feb, 2019Joanita Wibowo

Are you missing out? $110 million Medicare rebates left unclaimed

Are you missing out? $110 million Medicare rebates left unclaimed

More than $110 million worth of Medicare rebates are waiting to be claimed in Australia.

Human Services Minister Michael Keenan said the rebates have gone unclaimed since 2016 because 670,000 Australians have not given their bank account details to Medicare.

“I would prefer this $110 million would be sitting in people’s bank accounts rather than ours,” Keenan told the Today show on Thursday.

“We give people ample opportunity to do that and we constantly remind them to update their bank account details with us.”

Keenan said it would only take “less than a minute” to provide the necessary information to receive the rebates. Customers have been notified of the money owed.

Customers may provide their bank details via online app, phone or in-person at a Medicare branch. Keenan told the ABC that people could nominate other parties to receive the funds. For example, teenagers with Medicare cards could nominate their parents’ bank account to receive any rebates.

Once the information is received, Keenan said the outstanding funds will be sent through within 48 hours.

Families and couples are also required to register to Medicare Safety Net, which gives a higher benefit once the threshold for out-of-pocket expenses is reached.