Young Aussies: You Could Be Owed Money in the Form of Unclaimed Benefits

There’s a total of $52mill owed 😲

Keen for some spare change to spend going into summer?

Well, you might be one of the lucky young Aussies who could be getting money back from Medicare.

According to the Department of Social Services, there are over $241 million in unclaimed Medicare benefits ready to be paid to over 930,000 Aussies.

The catch? You need to provide your current bank details to Medicare.

Why is there money being owed?

Bill Shorten, Minister for the National Disability Insurance Scheme and Government Services, announced how much there was in unclaimed benefits on 31 October.

According to him Gen Z’s are the biggest group who are missing out on this money.

“The average Australian with unpaid Medicare benefits is owed around $260 – but there are also 200 people owed more,” Mr Shorten said.

“Young people are owed the most, with more than 224,000 Australians aged between 18 and 24 owed over $52 million.”  

How to check if Medicare owes you money.

Minister Shorten said it took the average person with a myGov account linked to Medicare less than a minute to check and update their bank details using the myGov app.

Which is not a lot of time to get what you’re owed!

To check follow these steps:

1. Log in to your myGov account (you can do this via the website or app)
2. Check your myGov account is linked to Medicare
3. Make sure your bank details are up to date and if they aren’t, update them.

According to Mr Shorten if you are owed any money, this will be paid into your bank account within three days.

But watch out for scams, the Dept for Government Services made clear they will never send a “link in a text message or email”.

Sounds like this could be a great bonus for a brat summer to us 🤩