Still waiting on a

Medibank

refund?

30-Day Cooling-Off Period:
New Medibank members (or existing members who've recently changed their cover) can get a full refund within 30 days, as long as no claims were made. This cooling-off period offers peace of mind if your decision changes.

After 30 Days:
You can cancel anytime after the cooling-off period and still receive a pro-rata refund for unused premiums. For instance, if you paid for a year upfront but cancel six months in, you’ll typically get about half back.

Claims Exclusion:
If you’ve made claims during the premium period, those months are deemed “used” and won’t be refunded. However, future unused premiums remain refundable.

Administration Fee:
Outside the cooling-off window, Medibank might deduct a reasonable admin fee (commonly around $30) from your refund, clearly outlined before cancellation.

Overseas Student Health Cover (OSHC):
OSHC policies have special rules - pro-rata refunds are available if your studies finish early, you leave Australia, or change health cover. Supporting documentation is required, and refunds aren’t issued for periods under one month unless you gain permanent residency.

Ready for your refund? Follow these clear steps for a hassle-free process:

1. Contact Medibank to Cancel:

• Contact Medibank by calling 132 331 (Mon–Fri 8am–8pm, Sat 9am–4pm AEST).
  
  
• OSHC members call 1800 887 283 or email oshc@medibank.com.au.
  
  
• You can also visit a retail branch in person.
  
  

2. Verify Your Identity:
Have your membership number, full name, date of birth, and address ready to confirm your identity quickly.

3. Choose a Cancellation Date:
Set your cancellation date (either immediately or at the end of the billing cycle) to maximise your refund.

4. Provide Refund Details:
Medibank refunds via your original payment method (credit/debit card or bank transfer). Ensure your payment details are correct.

5. Confirmation & Reference:
Get a cancellation reference number and confirm refund details during your call. A confirmation letter/email will also be provided.

6. Track Your Refund:
Refunds typically appear within 5–10 business days, but can take up to two weeks. If longer, contact Medibank with your reference number.

Refunds usually take about 1 week, often landing within 5–10 business days. Factors affecting timing include:

• Payment Method: Credit card refunds are fastest (3–5 days). EFT may take slightly longer.
  
  
• Billing Cycle Timing: Recent payments might cause slight delays.
  
  
• Public Holidays & Weekends: Processing delays around holidays are possible.
  
  
• OSHC/International Transactions: International transfers or document verifications could take longer (up to one month).
  

If you haven’t received your refund within 14 days, follow up promptly with Medibank, providing your cancellation reference number.

Medibank returns refunds conveniently via these methods:

• Credit/Debit Card Reversal: Quickest method; refunds appear within days.
  
  
• Direct Bank Deposit (EFT): Commonly used for direct debit payments. Ensure bank details are accurate.
  
  
• Cheque: Rarely issued, typically in special circumstances, and takes longer due to postal delays.
  
  
• No Cash or Store Credit: Refunds are never issued in cash or store credit.
  
  

Medibank will provide confirmation of your refund via email or letter, including transaction details.

While most refunds are smooth, common issues can include:

• Long Call Waits & Transfers: Call during off-peak times to minimize waits.
  
  
• Retention Tactics (Policy Reinstated): Firmly confirm cancellation intentions if Medibank attempts to retain you.
  
  
• Post-Cancellation Charges: Report immediately for a quick reversal if mistakenly charged post-cancellation.
  
  
• Refund Amount Discrepancies: Confirm fees or pro-rata calculations clearly during cancellation.
  
  
• OSHC Refund Delays and Documents: Submit complete documentation promptly to avoid processing delays.
  
  
• Need to Escalate: The Private Health Insurance Ombudsman can assist if disputes persist. Just mentioning this can speed resolutions.
  
  

Pro Tip: Keep detailed records of all communications (dates, names, and references) to streamline any follow-ups.