Here’s How to Get Your Hands on Medicare’s $234M Stash of Cash

November 30, 2023 3:31 pm in by

Aussies are being urged to claim their share of a whopping $234 million in unclaimed Medicare benefits. With Christmas around the corner, there couldn’t be a better time to get your hands on some extra dough.

The Department of Social Services recently dropped the bombshell that millions of Australians could be sitting on a goldmine, with an average of $240 owed per person in unclaimed Medicare benefits. This unexpected pot of gold could be the perfect excuse for a spontaneous shopping spree or a cheeky ‘treat yo’ self’ moment.

As the festive season and summer holidays loom, Minister of Government Services Bill Shorten is encouraging Aussies to ensure their bank details are up-to-date on the myGov website and app.

Article continues after this ad

According to Shorten, this simple act could unlock a slice of this multimillion-dollar pie. “We know Australians are doing it tough, and I want to reunite people with millions in unpaid Medicare benefits before the holidays,” he said.

The Department of Social Services has identified young Aussies aged 18 to 24 as the biggest group missing out on these refunds, with more than 200,000 individuals in this age bracket eligible for a payout. Geographically, New South Wales leads the pack with $72.6 million in unclaimed benefits, closely followed by Victoria.

For the 690,000 myGov account holders, a notification about this unclaimed money will soon pop up on their screens. But for the estimated 300,000 who are owed money and don’t have a myGov account, the government is urging them to create an account and input the correct bank details pronto.

Don’t miss out on your piece of the $234 million pie! Log into your myGov account or visit a service centre to ensure your bank details are current. Or, if you prefer, give the Medicare program a ring at 132 011, available 24/7.