Changing my level of cover
- Can I change my cover on this website?
- If I upgrade my cover within MBF, do I need to serve additional MBF waiting periods before I can claim?
- How does changing cover affect the benefits I can claim for services?
- How does changing cover affect the Limits on my claims?
- Who has authority to change the level of cover on a membership?
- What about changing to hospital cover with Dependant Extras?
- How does the extra 1% Medicare levy affect me if I change my cover?
- How does Premium review 2007 affect me?
Can I change my cover on this website?
To change your level of cover on our website, you have to be registered for myMBF.
Only Primary Members can change their level of cover using Member Services on myMBF.
If you have MBF Emergency Ambulance Cover or MBF Overseas Visitor's Cover, you will be able to change to MBF Premium Hospital, MBF Select Hospital, MBF Premium Extras, MBF Young Extras, or a combination of hospital or extras cover through myMBF. However, you cannot make any changes to your existing level of cover online and should instead phone us on 131 137.
If you change to a new level of cover using myMBF, you will be able to make alterations to your new cover details online within three working days.
Please note that some corporate and group products are not supported by myMBF Please contact MBF on 131 137 to check your details and change your cover.
If I upgrade my cover within MBF, do I need to serve additional MBF waiting periods before I can claim?
Yes. If you are upgrading to a cover with higher benefits or additional services, waiting periods will apply to the additional benefits or services. However, you will have continuity of membership at the same level of benefit entitlement for services common to both levels of cover.
This is provided that:
- You have served the relevant waiting periods on your original product
- You transferred within two months of ceasing membership of the previous product.
Where limits apply, any benefits paid by MBF will be transferred to the new product.
How does changing cover affect the benefits I can claim for services?
This depends on whether you are moving to an equivalent cover, upgrading to a higher level of cover or changing to a lower level of cover.
If you are increasing your level of cover (e.g. moving from a higher excess to a lower excess), the benefits you receive will be paid at the rate of your previous level of cover until you have satisfied the waiting periods on your new cover.
If you are decreasing your level of cover, benefits will be paid at the rate of your new cover immediately, as long as your waiting periods have been served on your previous level of cover. The limits you used on your previous level of cover will be carried forward to your new level of cover.
How does changing cover affect the Limits on my claims?
Some services on MBF products have lifetime or periodic Limits. If you have received benefits for these services on your previous level of cover, the Limits you have used will be carried forward to your new level of cover. This also applies to Limits that are calculated on the number of times a year that the benefit for a particular service can be paid.
All Limits are based on the calendar year (1 January to 31 December inclusive), except where stated otherwise. For example, if you transfer to MBF Young Extras which has an optical Limit of $100 per person, and you claimed $50 on optical under your previous fund during the year, your remaining Limit will be $50.
Who has authority to change the level of cover on a membership?
Only the Primary Member on an MBF membership may change or add to the MBF level of cover.
What about changing to hospital cover with Dependant Extension?
If you wish to cover an unmarried dependant (someone aged 21 to 24 inclusive who is no longer a full-time student), you will need to pay an extra premium and change to a product that includes Dependant Extension.
Dependant Extension is only available for members of MBF Advantage Hospital or MBF Premium Hospital. Rates will vary depending on your state of residence (check rates).
Any new dependants will be required to serve the normal waiting periods before they are able to make a claim.
Click here for further information on a dependant child or a student dependant.
How does the extra 1% Medicare levy affect me if I change my cover?
The Federal Government has imposed an additional 1% Medicare levy on those above a specified level of income who don't have appropriate hospital cover for themselves, their partner or any dependants (see FAQ on Medicare for further information).
By choosing MBF hospital cover with a per person excess of $500 or less, you can have the peace of mind of knowing that the additional Medicare levy will not affect you from the date you join.
If you took out hospital cover before 24 May 2000 with an annual per person excess greater than $500, you will be exempt from the additional 1% Medicare levy as long as you maintain continuous membership of your current hospital cover. If you change your hospital cover for any reason and choose an excess of $1000, you may be liable to pay the additional 1% Medicare Levy depending on your level of income.
For more details, contact MBF or consult your accountant or taxation adviser.