HBF has announced it will be returning $110 million in excess pandemic funds to members at the end of the financial year, however, the company will still increase premiums by 4.49 per cent.

HBF chief executive Lachlan Henderson told Oliver Peterson on Perth Live the company has listened to its customers.

“We’ve heard what members had to say to us and they want cash in their hand,” said Mr Henderson.

Press PLAY below to hear why premiums are going up