Savings Provision Entitlement
What is the Savings Provision Entitlement? The Savings Provision Entitlement ensures that people remaining on a membership that has been eligible for the 35% or 40% rebate do not have their rebate reduced to the standard 30% when the member aged 65+ years leaves or cancels the membership.
How does the Savings Provision Entitlement work? When the member of 65+ years leaves or cancels the original policy (due to death, divorce or separation), the Savings Provision Entitlement is triggered. As a result, the original policy will continue to receive the higher rebate, and the remaining members on the policy (at the time), other than dependants, will be entitled to receive the higher rebate if they transfer to a single policy or even a different fund. If a member aged 64 or less leaves the policy before the member aged 65+ does, then the Savings Provisions Entitlement will not be triggered and the person leaving the policy will have their rebate revert back to 30%.
How do I lose the Savings Provision Entitlement? If a policy is receiving the higher rebate as a result of a Savings Provision Entitlement, the Savings Provision Entitlement will be lost when another person, other than a dependant, is added to this policy. The rebate entitlement for the policy will be recalculated based on the age of the oldest person on the policy.
When does the Savings Provision Entitlement not apply? A dependant is not entitled to take the Savings Provision Entitlement with them. This means if they take out their own policy, their rebate will revert back to the standard 30% rebate.
How do you retain the higher rebate when transferring to another fund? If you believe the Savings Provision Entitlement applies to you and you are under 65 years old, to retain the increased Government Rebate when transferring to another fund, it is essential that you request a Savings Provision Clearance Certificate from your departing fund and provide this to your new fund.
All of our affordable Extras cover options include access to HIF’s SmartTeeth dental rebates.
The program was designed to encourage and reward regular maintenance of your teeth; It's added value, but no added cost. So, no matter which Extras option you choose, you can enjoy rebates of up to 100% for the most popular dental services, like examinations, remineralisation, plaque and calculus removal, and even dentist-fitted sports mouthguards.
To learn more about SmartTeeth rewards, visit the Dental Benefits
To find out more about our stance on allowing members to use any dentist, visit our Pick Your Own Provider page.
Standard Information Statements (SIS)
All Australian health funds are required by law to provide Standard Information Statements (SIS) to members annually. The Statements enable health fund members to review their current policy and private health insurance products.
There are three types of Standard Information Statements:
Hospital - describes the features and limitations of hospital cover, including the type of accommodation, which medical services are covered in full, part or not covered, waiting periods and additional payments (excesses, co-payments and gaps)
General Treatment - describes the features and limitations of general treatment cover, including which services are covered, waiting periods, benefit limits and example benefits for each type of service; and
Combined - describes the features and limitations of a combined hospital and general treatment cover, with details as above.