Accident Coverage Suspension: Who Qualifies and What You Get
Learn how to reduce your health insurance premiums by removing accident coverage if you are already covered through your employer.
This scheme allows you to remove accident coverage from your private health insurance plan if you are already covered for accidents through your employment.
Who it's for
This is available to employees who work more than eight hours per week. If you meet this work requirement, your employer is required to provide you with accident insurance, making your private accident coverage redundant.
What you get
By opting out of the accident portion of your health insurance, you can reduce your monthly premiums. This can result in a saving of approximately 7% on your total insurance costs.
What it costs you
There is no direct fee to apply for this, but you must provide official proof that your employer provides you with accident insurance to qualify for the reduction.
The catch to know
If you leave your job or change your employment status so that you no longer work enough hours to be covered by your employer, you must immediately add accident coverage back to your private health insurance plan to ensure you remain protected.
How to apply
- Confirm that you work more than eight hours per week.
- Request proof of your employer-provided accident insurance.
- Contact your health insurance provider to request the removal of accident coverage.
- Submit your proof of coverage to your provider.