Overpaid premium refund

We’ve identified that due to an error on our part, some of our members, both past and present, may have overpaid their premium.

We’re currently in the process of contacting our affected members so we’re able to credit or refund the overpaid premium as well as provide compensation in the form of ‘time value of money’.

What do you need to do?

If you’re entitled to a refund or premium credit, you’ll receive an email or letter from us to confirm next steps:

  • If you’re a current Southern Cross member, you may get a premium credit. We’ll confirm the amount of credit being applied to your next premium payment/s.
  • If you’re getting a refund, and we have your bank account on record, we’ll confirm that account as the one we’ll be paying the refund into. If you’re happy for the refund to be paid into that account, you won’t need to do anything.
  • If you want the refund to be paid to a different bank account, you will need to complete this form. If we don’t hear from you within 10 working days of the date on your email or letter from us, the refund will be paid into the bank account set out in our communication to you.
  • If you’re getting a refund and we don’t have your bank account details, we’ll request that you complete this form within 30 days of the date on your email or letter. We will refund you within 10 working days of receiving your completed form.

Provide your bank details

Our complaints process

The complaints process below describes how Southern Cross Medical Care Society (“Southern Cross”) addresses complaints. If you are unhappy with our products or services, we want to hear from you so we can address your concerns.

How to make a complaint

You can make a complaint about our products or services with any of our representatives, by:

  • using our online complaints form
  • calling us on 0800 800 181
  • writing to us at: Complaints at Southern Cross, Southern Cross Health Society, Private Bag 99934, Newmarket, Auckland 1149.

Complaints process

Step 1
We will try to resolve your complaint the first time you contact us.

Step 2
If we can’t resolve it the first time you contact us, we will refer your complaint to the appropriate team. They will acknowledge your complaint within two working days of the date they receive it (or as soon as they can). We will also let you know, by phone or email, how our complaints process works.

We aim to resolve complaints timely and fair manner, and we’ll keep you updated on our progress. We will keep you informed about the outcome of any investigation in a clear and open manner.

Step 3
If you’re not happy with our response, you can ask for your complaint be reviewed by our Member Relations Team. They will review and make a final decision and let you know what that is as soon as possible. If you are still not satisfied, we can provide you with a letter of deadlock to confirm you have come to the end of our internal complaints process, so you can raise your complaint with our independent Dispute Resolution Scheme provider.

Disputes Resolution Scheme

We belong to the Insurance & Financial Services Ombudsman’s approved Dispute Resolution Scheme (IFSO Scheme). It is a free and independent dispute resolution service that can help if we can’t resolve your complaint.

If your complaint has been through our complaints process, and we have issued you with a letter of deadlock, and you’re still not satisfied with the outcome, you can refer your complaint to the IFSO Scheme for review.

You can contact the IFSO Scheme on 0800 888 202, email at [email protected] or at www.ifso.nz or write to Insurance & Financial Services Ombudsman, PO BOX 10 845, Wellington 6143.

Still not satisfied?

We belong to the Insurance and Financial Services Ombudsman’s approved dispute resolution scheme (IFSO). The IFSO Scheme is a free and independent dispute resolution service available to consumers that may help investigate or resolve complaints if not able to be resolved through our internal complaints process.

If your complaint has been fully investigated by us and you’re still not satisfied with the outcome, you can refer your complaint to the IFSO for review.

You can contact the IFSO Scheme on 0800 888 202, email at [email protected] or www.ifso.nz.

Alternatively, you can write to: Insurance and Financial Services Ombudsman, PO Box 10845, Wellington 6143.

FAQs

  • Why do some current Southern Cross members get a credit while others get a refund?

    It depends on how your premium is paid. If you’re a private member, or a member of a work scheme that allows for premiums to be paid by direct debit or credit card, then a credit will be applied to your policy to be used on your next premium payment. If you’re a member of a work scheme that takes premium payment from your salary or wages, then a refund of overpaid premium is the simplest way to return the overpayment. This is due to system limitations when it comes to work schemes with wage/salary deduction premium payments.

  • Who receives the refund?

    The policyholder will receive the refund. If you’re entitled to a refund, you can nominate any New Zealand bank account in the policyholder’s name. You’ll have to let us know which bank account you would like the refund paid into if it’s a different bank account to what we have in our records.

  • How is the refund/credit calculated?

    We’ll be refunding or crediting the total amount of any overpaid premium plus the time value of money.

  • What does “the time value of money” mean?

    Time value of money is compensation for the use of money. This compensation is calculated using the Reserve Bank of New Zealand (RBNZ) 6-month deposit interest rate. The compensation amount is determined by applying this interest rate to the refund/credit amount on a monthly basis for the relevant refund/credit period.

  • What is the relevant refund/credit period?

    The relevant refund/credit period is the time between the date the premium was first overpaid until the date we calculate the credit or refund.

  • I’ve been asked for proof of my bank account.

    If we’ve asked you for proof of your bank account, please go to https://contact-us.southerncross.co.nz/refund-details, complete the form and attach proof of your bank account which includes your bank account name and number.

  • How can I get in touch with Southern Cross?

    You can phone us on: 0800 800 181 or visit us online for other ways to get in touch.