Every year the Government requires all health insurers to send their members a document known as a Standard Information Statement, or SIS, for each product they hold. So if you only have Hospital cover or Extras cover then you’ll receive one SIS from HIF, and if you have combined cover you’ll receive two.
But what is a SIS, exactly?
In a nutshell, your SIS provides a general overview of your HIF cover, summarising the key product features. But it’s important to note that’s all it is – a general overview – so some of the information won’t necessarily be relevant to you. The SIS templates have been designed and written by the Federal Government to make it easy for you to review and compare your cover, so you can simply check at a glance that your health cover meets your needs.
Why does the information on my SIS differ from my usual HIF policy information?
While HIF is required by law to send our members these SIS documents, the benefits and premium are only indicative. Your specific membership details and waiting periods have not been taken into account, so please bear in mind that:
1) Your premium may differ from the basic monthly rate listed for that product which, as the price you can see in the top right hand corner of the SIS does not take into account your chosen payment frequency (e.g. if you usually pay fortnightly rather than monthly), your Federal Government rebate, Lifetime Health Cover loading, or any discounts that may be applicable; and
2) The benefits and claiming limits detailed on the SIS represent first year customers only, so you may be able to claim more than the examples provided. For example, we are required to only publish the dental annual limits for the first year of membership with HIF, but our dental limits increase each year for the first five years, so if you've been a member for more than 12 months (or you’ve recently switched from an equivalent policy with another fund that you were with for two or more years), your actual annual limit will be higher than the amount you’ll see on your SIS.
For a detailed explanation of your cover, regarding inclusions, exclusions, waiting periods, benefits and claiming limits, please download the latest version of our Product Disclosure Statement (PDS) or login to our online Member Centre, where you can manage your membership and review your cover.