Update on Bupa UK insurance premium rebate

18 March 2021

Today we’ve announced that we’re sending our UK consumer, SME and fully insured¹ corporate health insurance customers the rebate we pledged in April 2020 as part of our response to the Coronavirus pandemic.

Although the full impact of the pandemic is still to play out, we’re delivering on the pledge we made last year by sending our customers a rebate payment at some point between April and the end of July 2021.

For the vast majority of customers, we expect the payment to be equivalent to around one month’s premium so long as they held a policy with us through the qualifying period last year (23 March and 30 September 2020). This amount may differ depending on the period when they paid premiums and the final outcome of our calculations.

As we’ve so many customers, calculating and delivering on the rebate payments is complex. We’re working as fast as we can and will send customers their payments by the end of July. Corporate groups² will need to be on cover when the payment is made.

We’ll be in touch with customers over the coming weeks to explain how they’ll receive their payment, so they don’t need to contact us or do anything. The rebate payment won’t affect your broker commission.

We pledged that we would pass back to our UK health insurance customers any exceptional financial benefit ultimately arising from COVID-19. We did this when, in the early stage of the pandemic, some independent hospital services were disrupted as they were required to support the NHS due to the impact of COVID-19.

Thankfully, many of the treatments that our customers needed continued, such as those for time-critical cancer and heart care. Other treatments were delayed, and although many of these went ahead later, we expected an overall reduction in claims.

We commissioned an independent third party to assure that the way we share out the rebate is fair and reasonable across all our UK health insurance customers.

To coincide with the start of our customer communications, we’ll also be launching a rebate page on our website, including answers to questions customers may have. You can find it at www.bupa.co.uk/rebate

¹ A fully insured customer is defined as those that have a health insurance product with Bupa UK excluding Profit Shares, Risk Shares, Cost Plus, Captive, Re-insured, Pooled insurance, and Health Trust arrangements (with or without stop-loss). Please contact us if you’re unsure whether you or your clients fall into these definitions.

² Corporate groups are defined as those who are experience rated.