PMIF FAQs for employers

You are not directly affected by the PMIF laws, however some of your employees may be affected. We wrote to any affected employees to let them know their cover may be cancelled unless they took action by 31 March 2020 to keep it. Some of your employees may have had their standard cover cancelled as at 1 April 2020.

Any employees that have their super paid to CareSuper from 1 April 2020 will no longer receive standard insurance cover backdated to their employment start date, or when they started having their employer contributions paid to their CareSuper account.

Eligible employees can elect to receive standard insurance cover as soon as they receive their first employer contribution.

If they don’t make an election, they’ll receive cover automatically when they satisfy the following criteria and commencement of cover conditions:

• Have at least $6,000 in their account, and
• They’re at least age 25.

Other terms and conditions apply, as outlined in the relevant Insurance Guide.

If you have questions, speak to your client partnership manager who is there to support you and your employees.

If you pay for some of the cost of your employees’ insurance fees provided through the corporate arrangement, your employees may have been affected by the PMIF laws if their account balance had not reached $6,000 at any time between 1 November 2019 and 31 March 2020. They had to let us know by 31 March 2020 if they wanted to keep their cover with us, or these laws required their cover to be cancelled from 1 April 2020. They have a second opportunity to get their cover back if they make an election online by 30 April 2020.

If you pay the full cost of your employees’ fees, they are not affected by the PMIF laws while they remain under that arrangement, and their cover will continue from 1 April 2020 regardless of their super account balance. They may be affected in the future if they leave your employment or you stop paying their fees, if at that time, they have a balance less than $6,000, and if they joined from 1 April 2020, they’re under age 25.

If you have questions, speak to your client partnership manager who is there to support you and your employees.