Australians have been urged to check their banking details listed on the government’s MyGov portal as Medicare has some $241 million in benefits waiting to be claimed.
The government on Thursday advised more than 930,000 Australians who have not updated their banking details to claim the benefits, revealing the simple way they can get the money.
National Disability Insurance Scheme and Government Services Minister Bill Shorten said Australians could only be reunited with their money through unpaid Medicare benefits after updating their details.
“We know that a little extra money is always welcome in the run-up to the holidays – so there’s no better time than now to check your Medicare banking details are up to date and whether you have any unpaid benefits,” Mr Shorten said.
The average Australian with unpaid Medicare benefits owes about $260, but there are also 200 people who owe more than $10,000.
Young adult Australians owe the most money, with more than 224,000 people aged 18 to 24 owing more than $52 million, up from $49.2 million this time last year.
There are also hundreds and thousands of beneficiaries between the ages of 25 and 55 who owe an average of about $30 million in each ten-year age range.
New South Wales, Queensland and Victoria have the largest numbers of beneficiaries, although there are still tens of millions in the other states and territories who are also yet to claim their benefits.
The Australian government has urged Australians to check their Medicare banking details on the MyGov website
Mr Shorten said it took the average person with a myGov account already linked to Medicare less than a minute to check and update their banking details using the myGov app.
“There are a few quick and easy ways to check and update your Medicare details, including through your Medicare linked service on the myGov app or your Medicare online account,” Mr Shorten said.
“Once you update your details, Services Australia will pay your unpaid benefits within three days.”
The unclaimed benefits pale in comparison to the $30 billion in Medicare benefits paid out by Services Australia in the last financial year.
Young Aussies are the group with the most money to claim benefits, with around $52 million available to claim by people aged 18 to 24
Mr Shorten said more than 500,000 Aussies had been reunited with $117 million in unclaimed benefits since December last year.
Services Australia will send more than half a million notifications to Australians via the myGov app in the effort to disburse the money.