I’m currently on family leave from my job & receiving partnered parenting payments from Centrelink. Whilst the payment isn’t huge it is helping me stay home while our children are young.
Last month our health insurance policy changed & gastric banding is no longer covered on our policy.
I have the option of using my superannuation to pay for the surgery- $22000. However I keep receiving conflicting information. I have to apply through Centrelink for the early release of my super. I know the $22000 will be taxed but does it count towards my income which up until this point has been $0.
Has anyone got any first hand information? Telling me to call Centrelink etc is not a helpful answer nor is saying I need to go on a diet.
Due to returning to work next year this needs to happen in the next six months & financially increasing health insurance at present isn’t possible.
Also, I do not meet the criteria for a sleeve via the public system.
5 Replies
Have you considered upping your health insurance cover? Whilst you might have to wait a little longer for the surgery, I think it would be the cheaper alternative.
You actually apply through the ATO for early release of your super, not Centrelink, it changed last year. The money from your super is classed as income and affects Centrelink payments by increasing your family's taxable income. Are you eligible to have the surgery through the public system? It's a long wait but you won"t be out of pocket.
My husband is a current public patient for bariatrics . He has a HCC and was on the waiting list for 18 months before his name had come up. He has now seen the surgeon , psychologist, dietician etc for the surgery . They have put him on a diet for a further 12 months it’s further appointments to monitor his weight loss progress before they operate. Each appointment was around $180 with a $75 returned from Medicare . The surgery itself and hospital stay is free.
All up from your name being on the list to the actual surgery is 2.5 years . The out of pocket expenses were around $1000 low income public care .
I was under the impression that you could only access $10k per year of your super and it is taxed so you would not receive the full $10k even. Would be a good idea to change your health insurance - even just for you. If you have previously been covered you shouldn't have any waiting periods.
You apply through the ATO. Once given the green light you then submit paperwork to your super fund for the release of money. They take tax out on top of the amount you need. Eg. You need $24k for the operation, they will take out $28k and $4k will be withheld for the tax debt.
Don't go lapband - I recommend omega loop.