Suspending your policy is like putting it on hold. No premiums are payable during a period of suspension, but no claims will be paid for services or treatment provided within the suspension period either.
We can suspend your health cover for one of two reasons – if you are experiencing financial hardship or if you are travelling overseas for a period longer than 2 months.
To be eligible to suspend your health cover, the policyholder must be an active member with nib for a continuous 12-month period and premiums must be financially up to date.
To put your policy on hold just call us on 13 16 42. We’ll take you through all you need to know and discuss if this is the right option for you.
We can't backdate a suspension though so be sure to make contact with us before you need to suspend your policy.
You can put your policy on hold for anywhere from 2 months to 24 months if you're travelling overseas.
If you need to suspend your policy but still want cover for the unexpected on your travels, nib members are eligible for a 10% discount on Travel Insurance and Expatriate Health Insurance.
To suspend your cover, nib will require proof of your travel dates through copies of your travel itinerary, stamped passport or plane ticket including your full name and the dates you left and are re-entering Australia. Travel cards are not accepted.
nib will remind you to resume your cover around the expected date of resumption. To resume your cover you’ll need to get in touch with us within 30 days of getting home.
If you're experiencing financial hardship, you can apply to suspend your policy for a minimum of 2 months and maximum of 3 months.
nib will remind you around the time your cover is due to resume and automatically resume your health cover on the date you have nominated, or at the end of the 3 month period (whichever comes first).
To resume your cover earlier than your nominated resumption date you'll need to contact us.
Where waiting periods had not been fully served upon suspending your policy the remainder of the waiting period must be served once the policy resumes.
If you earn above the Government’s Medicare Levy Surcharge Thresholds you could be liable for the Government's Medicare Levy Surcharge for the period of suspension. This is an extra 1% to 1.5% in tax, depending on your circumstances.
A suspended policy must be resumed within 30 days of the end of the suspension date or it could be cancelled. If the policy is cancelled all customers on the policy will need to re-serve waiting periods if they re-join later.
Don’t worry, nib will remind you when your health cover is due to be resumed. Simply contact us to resume your cover, or to find out more information.