PMIF FAQs for members

If you’re affected by PMIF, there’s a number of things you should consider before 1 April 2020.

Info for members
How do I let CareSuper know that I want to keep my cover?

CareSuper members whose account balance never reached $6,000 at any time between 1 November 2019 and 31 March 2020 needed to let us know if they wanted to keep their insurance cover before 1 April 2020.

If your cover was cancelled due to these laws, you will receive a letter or email from us.

If you decide you still need your cover, it’s not too late to get it back. You can elect to have your insurance reinstated until 30 April 2020. There’ll be a gap in insurance cover between 1 April 2020 and the date we receive your election. During this time you will not be covered in the event of any insurable event.

Check your recent email or letter for more details on how to make an election or call us on 1300 360 149 for help.

What happened if I was advised my cover may be cancelled on 1 April 2020 and I took no action before then to keep it?

These Government laws required your insurance to be cancelled effective 1 April 2020 and fees will no longer be deducted from your account. We’ll write to you to let you know your cover has been cancelled.

If you would still like your cover, it’s not too late to get it back. You can elect to have your insurance reinstated until 30 April 2020. There’ll be a gap in cover between 1 April 2020 and the date we receive your election. Unfortunately, during this time you will not be covered in the event of any insurable event.

If you take no further action, bear in mind cover may switch on again in the future if your balance reaches $6,000. See this fact sheet for details on the reinstatement or recommencement of cover if it is cancelled due to PMIF.

What happens if my cover was cancelled effective 1 April 2020 due to these laws?

You’ll be eligible to make claims for insurable events that occurred before 1 April 2020 only. We’ll notify you in writing that your cover has been cancelled.

If your cover was cancelled effective 1 April 2020 but you decide you still need it, you have a second opportunity to get it back by making an election through our online portal before 30 April 2020. See your recent letter or email from us to find out how.

You can always apply for new cover. Any application for new cover will need to be assessed and approved by our insurer and medical evidence may be required.

I recently received a letter or email advising that my cover was cancelled on 1 April 2020, but I can still elect to keep my cover until 30 April 2020. How do I make an election?

You can make an election through our online portal using the unique code which can be found on your relevant letter or email from us. If you have lost this communication, please contact us.

Cover will start again from the date we receive your request. There will be a gap in cover so you won’t be covered for an insurable illness or injury that occurs between 1 April and the date your cover starts again. This cover will be subject to an active employment test and may be restricted to limited cover.

See your Insurance Guide for more information on 'active employment' and 'limited cover'.

If I lost my cover on 1 April 2020 due to these laws, will I get cover again?

If you lost your standard insurance cover on 1 April due to these laws, it will start again if your balance reaches $6,000. This cover may be limited cover, see this fact sheet for further details.

The level of cover that is applied to your account depends on whether your account balance reaches $6,000 before or after 1 October 2020.

You can always apply for new cover through MemberOnline or by completing and returning the relevant form if you decide you need it. Any application will need to be assessed and approved by our insurer and medical evidence may be required. See your Insurance Guide for more information on tailored cover.

If my cover was cancelled on 1 April 2020 due to PMIF and it starts again later, what cover will I receive?

If your balance reaches $6,000 within six months of cancellation, cover will be reinstated from the date your balance reaches $6,000. You will receive the same type of cover you held immediately prior to it being cancelled. Cover will be subject to an active employment test and may be restricted to limited cover.

If your balance reaches $6,000 on or after six months of cancellation once you meet the criteria for cover, you will receive standard cover at the level applicable to a new member from the date your balance reaches $6,000. It will be subject to an active employment test and may be restricted to limited cover.

See your Insurance Guide for more information on ‘active employment’ and ‘limited cover’.

What happens if I posted my form to keep my cover before 31 March 2020, but it was received after 1 April 2020?

We needed to receive your form no later than 31 March 2020 for your standard cover to remain on your account from 1 April 2020. If your form was posted before this date but received after 1 April 2020, these laws required your cover to be cancelled on 1 April 2020.

If your form is received between 1 April and 30 April 2020, your standard insurance cover will be reinstated from the date we receive your form. There will be a gap in cover between 1 April and the date we receive your form. Cover will be subject to an active employment test and may be restricted to limited cover.

If you lost your cover due to these laws and your form is received after 30 April 2020, regardless of posting date, unfortunately your form cannot be accepted.

I have an insurance claim in progress. How do these laws affect my claim?

You are still covered for any insurable events that happened prior to 1 April 2020. Any claims that are in progress will not be affected and assessment will continue until a decision has been reached.

If you did not take action to keep your cover before 31 March 2020, your cover was cancelled effective 1 April 2020 and you won’t be covered for events that occur after this date. These laws also affect you if your pre-1 April claim is declined.

If you let us know that you would like to keep your insurance cover, you are not affected by these changes.

I joined CareSuper before 1 April 2020 but my standard insurance cover didn’t start before 1 April 2020. Why is this, and how will I receive insurance now?

If you didn’t receive an employer contribution before 1 April 2020, your standard cover will start once your balance reaches $6,000. This cover may be limited cover if we’ve not received an employer contribution for you that covers the date your balance reached $6,000 and if the initial employer contribution is not received within 120 days of when you started working for your employer (or the date your employer chose CareSuper as its default super fund to pay compulsory contributions to employees).

For more information, refer to your relevant Insurance Guide.

I joined CareSuper before 31 March 2020 but my cover hasn’t started yet. How can I ensure my cover starts as soon as I become eligible?

You can let us know you want your cover to start as soon as you become eligible, and even if your balance is less than $6,000, by making an election online or by completing and returning the relevant form.

Do these laws also affect my income protection cover?

The PMIF laws affect members with standard cover.

If you have income protection cover that you applied for in addition to your standard cover, you’re exempt from the laws and will not lose any of your cover on 1 April 2020.

If your income protection cover was provided automatically due to your employer's insurance arrangements with CareSuper, you will need to let us know if you want to keep your cover.

My employer pays the full cost of my insurance cover. Will I be affected by the PMIF laws if I leave the employer in the future or my employer ceases paying my insurance fees?

If you are no longer employed by your current employer or your employer stops paying the full amount of your fees and you haven’t already made an election to keep it, your cover may be cancelled.

You will have a second opportunity to apply to get your cover back if you make an election within 30 days of the date when you become responsible for your fees.

If you do decide to get your cover back, you will be responsible for covering the cost and insurance fees will be deducted from your super account. There will be a gap in cover so you won’t be covered for an insurable illness or injury that occurs between the date your employer stops paying the cost of your fees and the date your cover starts again. This cover will be subject to an active employment test and may be restricted to limited cover.

I’m a new member under 25 and don’t currently have insurance with CareSuper. When will I receive insurance?

Eligible new members who join CareSuper from 1 April 2020 will not receive standard insurance cover until they are aged 25 and have held a balance of $6,000 at least once since joining, and have received an employer contribution.

However, you can make an election to have it commence as soon as you receive a mandated employer contribution, and before you reach the above age and balance requirements.

If I elect to receive standard insurance cover as soon as I become eligible from 1 April 2020, how will I know my election has been received?

We will write to you to confirm your election and you should receive this communication within two weeks. We’ll then let you know when cover has commenced on your account.

What other information should I consider when deciding whether to have cover with CareSuper?

You should consider whether having insurance cover within your super is right for your circumstances.

If you have more than one super account, this is a good opportunity to review your cover for each account and consider consolidating your accounts if it’s right for you. One balance means one set of fees.

Where can I get some help to make the right decision for me?

Not sure what cover’s right for you? You may like to speak to a financial planner. As a CareSuper member you have access to financial advice over the phone as part of your membership^. Request a call back at caresuper.com.au/advice or call us on 1300 360 149.

^ Financial advice obtained over the phone, or through MemberOnline, is provided by Mercer Financial Advice (Australia) Pty Ltd (MFAAPL) ABN 76 153 168 293, Australian Financial Services Licence #411766

How will Employee Plan members get insurance cover if they join from 1 April 2020?

From 1 April, as long as your account is active, standard insurance cover will commence from the later of you:

  • Receiving an on-time employer contribution
  • Reaching a balance of $6,000, and
  • Reaching age 25.

If you’re under age 25 when you join the fund or if you join with a balance less than $6,000 and want cover to commence as soon as you become eligible, you can make an election. See your relevant Insurance Guide available from 1 April for more details on cover eligibility.

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