- One million Aussies were owed Medicare benefits
- On average, each person costs more than $240
- myGov account was required to receive money
- READ MORE: $200 Million in Unclaimed Cash
Nearly a million Australians could get a boost to their bank balances this festive season as the government seeks to return $234 million in unclaimed Medicare benefits.
On average, these Australians are missing out on around $240, but they can get the money back within three days by updating their bank account details on the website. myGov website.
The stock of unclaimed benefits has been building up for years because these Australians did not have valid banking details on file with Medicare.
Public Services Minister Bill Shorten says it could be a financial boon for many Australians in the run-up to the Christmas period.
The government is sitting on $234 million in unclaimed Medicare benefits owed to about a million Australians
“We know Australians are struggling, and I want to reunite people with millions in unpaid Medicare benefits before the holidays,” he said.
Australians aged 18 to 24 had the most to gain with more than $49 million in unclaimed benefits for 221,000 young people.
Nearly 700,000 people will receive a notification that Medicare owes them money, but another 300,000 people who don’t have a myGov account may not be reachable.
Mr Shorten is encouraging all Australians to create a myGov account to ensure they don’t miss anything.
‘Two minutes on the app, money in your account three days later, good news for Christmas.’
Opposition public services spokesman Paul Fletcher said the Coalition had revealed the unclaimed benefit figures in October.
To get their hands on unclaimed Medicare money, people must create or update a myGov profile
“Nearly a million Australians have missed out on vital hip pocket relief,” he said
“Families are struggling with cost of living pressures and this is their money, not the government’s.”