Credit Union Australia CUA) is a credit union officially founded in 1946 in Brisbane, Queensland through the amalgamation of a number of small Queensland-based credit unions. CUA originally had around 180 members but over time with a series of mergers of more than 171 credit unions, it has become the largest member-owned credit union in Australia. It offers banking, health and insurance services to around 500,000 members.
As a mutual bank, Credit Union Australia is owned by its members. CUA has over 50 branches located around Australia. As an authorised deposit-taking institution (ADI) CUA is supervised by the Australian Prudential Regulation Authority (APRA). CUA is also supervised by the Australian Securities and Investments Commission (ASIC) and has been granted an Australian Financial Services Licence and an Australian Credit Licence. CUA has two fully owned subsidiary companies – CUA Health Ltd (Health Insurance) and Credicorp Insurance Ltd (consumer credit insurance). Both the subsidiaries are non-guaranteed companies and have independent Boards and management teams. CUA Health was founded in 1976 as a private health insurer registered under the Private Health Insurance Act. It was established with the objective of providing affordable health care to Australians and committed to the principles of the Private Health Insurance Code of Conduct. It has about 80,000 members. The future is uncertain, which is why it’s a good idea to have a health insurance plan that can be relied on for protection against unexpected health issues. Credit Union Australia Health lets one choose the right level of health care coverage. With a wide range of different hospital and extras products on offer, one can pick and choose the most appropriate one that meets one’s needs and budget.
CUA Hospital plans include Premium Hospital, Standard Hospital, and Basic Hospital plan. One can also choose from 3 Extras options – ‘Total’, ‘Classic’, and ‘Essential Extras’ to ensure coverage for things like dental, optical and ambulance services. All CUA Health policies have emergency ambulance cover.
CUA’s family policy covers the main policyholder, spouse and any dependent children, including young adults. Cover for your children exists up until their age of 23 or 25 if they are full-time students. There’s no excess if your child is admitted to hospital. The health fund has included extra general dental benefits for dependent children to help make dental care costs more affordable.
CUA Health provides the following claiming options:
Claims relating to hospital treatment will be automatically forwarded to CUA Health for processing. For extras, claim on the spot by swiping CUA Health policy holder card at participating HICAPS (Health Industry Claims and Payments Service) providers or Complete a claim form and post it to CUA Health or forward it through the nearest CUA branch.
At CUA Health things are kept simple. One has the option to choose the cover that fits one’s needs and budget. Plus, when one is a CUA Health policy holder, one can stop worrying about unprecedented health issues involving hospital and other health care services. With 56 branches across Australia and an Australian based contact centre CUA Health is always ready to offer specialised one on one consultation. By participating in the Access Gap Cover Scheme CUA Health helps to save even more by reducing and in some cases eliminating out of pocket doctors’ expenses.
Optical services are covered by CUA with the following plans:
Vision Direct is a recognized optical provider for CUA Health Insurance. So, if you have an Extras policy with optical cover, you are eligible for rebates from Credit Union Australia when shopping prescription eyewear with us. Typically, optical covers are valid for 1 calendar or financial year and if benefits are left unused until then, they expire and don’t accrue at the end of the period.
Follow these steps to claim online for Credit Union Australia optical items
Check your policy documents to determine whether you’re eligible for an optical rebate.
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