Private health insurers have returned almost $4.8 billion to Australian customers after pledging not to profit from reduced access to health services during the pandemic.

Millions of physiotherapy, dental and other medical appointments were cancelled during pandemic lockdowns, while elective surgery was interrupted for months at a time.

The widespread disruptions resulted in large savings for private health insurance companies, which did not have to pay for the cancelled appointments.

Figures released by the Australian Competition and Consumer Commission show the industry has handed back $4.771 billion to policyholders, as of June 30.

The ACCC reports that almost $2.7 billion was paid directly into customers’ bank accounts, with a further $1.9 billion returned through premium relief, such as deferred or cancelled price increases.

Savings........

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