Suspend or resume your policy (Australian residents)
Suspending your policy is like putting it on hold – you won't pay any premiums. If you suspend your policy, you won't be able to claim for services on your policy during this time.
What to keep in mind when suspending your policy
Waiting periods
If you suspend your policy before completing your waiting periods, you’ll need to continue serving them once your policy resumes.
The waiting periods do not reset or expire during the suspension.
Medicare Levy Surcharge
If you're an Australian resident and your income exceeds the Government’s Medicare Levy Surcharge thresholds, you could be liable for the Medicare Levy Surcharge during the suspension period. This surcharge ranges from 1% to 1.5% of your income, depending on your specific circumstances.
Reasons to suspend your policy
- Travelling overseas
- Financial hardship
If you've been an nib member for 12 months or more, you can put your policy on hold for a minimum of two months and a maximum of 24 months while you're travelling overseas, as long as your premiums are paid up to date.
If you plan on going overseas before you meet the 12-month eligibility criteria, we can log your suspension to begin once you reach your 12-month membership anniversary.
While you won't be able to claim on services provided at this time and you won't be paying your premiums for the duration of the suspension, you'll still be classed as maintaining your cover. However, you won’t be exempt from the Medicare Levy Surcharge while your policy is suspended.
If you have Lifetime Health Cover (LHC) loading, the period of suspension does not count toward the 10-year requirement for the removal of the loading. For instance, if you suspend your policy for six months, your anniversary date for LHC removal will also be delayed by six months.
Please note, your policy will not automatically resume when you return. Contact us within 30 days of returning home to reactivate your policy, or it could be cancelled. If this happens and you rejoin your cover later, all members on the policy will need to re-serve waiting periods. Ensure you contact us promptly if you need to resume your cover.
10% discount for nib members
If you’re suspending your health insurance to travel overseas, you can consider nib travel insurance. nib members can get a 10% discount off their travel insurance*. Learn more about what’s covered and find the right plan for you
*nib Travel Insurance Distribution Pty Limited, ABN 40 129 262 175, AR 336467 is an authorised representative of nib Travel Services (Australia) Pty Ltd (nib), ABN 81 115 932 173, AFSL 308461 and act as nib's agent and not as your agent. This is general advice only. Before you buy, you should consider your needs, the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and Target Market Determination (TMD) available from us. This insurance is underwritten by Pacific International Insurance Pty Ltd, ABN 83 169 311 193.
The discount applies to the total nib travel insurance premium and is for customers that currently hold an Australian health insurance product, an Overseas Student Health Cover product or an Overseas Visitors Health Cover product with nib. Discounts do not apply to the rate of GST and stamp duty or any changes you make to the policy. nib has the discretion to withdraw or amend this discount offer at any time. This discount cannot be used in conjunction with any other promotional offer or discount.