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Cruize12

Early Release of Super

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Hi there,

 

I am sure this question has been asked before ( I just can't seem to find it)

 

But how long does it generally take for approval from DHS for the early release of your Super and then once that process is done how long does it generally take for your super fund to realease the funds?

 

I am just in the process of getting all the relevant documents together now and was just wondering what kind of time frame I can expect to be twiddling my thumbs...lol

 

Cheers

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It took 2 days for DHS to approve my application then a day for the approval letter to arrive.

My super took a little longer, around 12 business days once they received my application.

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Wow, Thanks Jellybelly. So much sooner than I expected. That's a pretty quick turn around.

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I was really surprised, my surgeon said it can take 2-3 months.

There are many other threads on here regarding early release - some are really helpful in what documents to send in.

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Mine took 10 business days to be approved, and my super fund released it in 4 days after receiving the letter.

It was all surprisingly quick and easy. This was in October last year.

Good luck :)

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For some folks the process is pure hell and if I remember correctly the entire process took 4 weeks which was much quicker than I had expected.

One bit of advise for those using your Super is not to book the surgery until the funds are in the bank. 

Although I was paying for the surgery myself my surgeon suggested that before the operation I join up with the no gap health cover just incase I needed emergency surgery from complications from the band surgery other wise you could be left with a large bill to pay.

My surgeon said having the band fitted isn't a pre op condition and I'm covered, nothing went wrong and I've used the cover 4 times now for teeth, 2 lots of glasses, a hernia and a broken foot and I'm going to use it again soon to have some loose stomach skin taken off.

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Thanks Guys for sharing. it seems it's generally not too long a process which is nice to hear. I currently have health insurance so I will be claiming just the out of pocket expenses from my super fund. Fingers crossed that I have a quick turn around...

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It took 2 days for DHS to approve my application then a day for the approval letter to arrive.

My super took a little longer, around 12 business days once they received my application.

Jellybelly, may I ask exactly what you sent please? Just so that I'm similar to you.

My plan is...

My DHS form, Doctor DHS form, Surgeon DHS form, 100 points of ID, quotes from surgeon, hospital & aneth and a copy of what my private health insurance covers. Would that be right?

Thank you

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I sent:

- The DHS Application

- DHS form for surgeon

- DHS form for GP

- 100 points of ID (inc marriage certificate as I hadn't changed my name everywhere)

- Quote from surgeon

- Quote from aneth

- Quote from dietician

- Supporting letter from surgeon explaining why I needed the procedure

- A supporting letter from myself outlining why i needed to access my super including an itemised account of the amount I wanted to take out (plus tax). I didn't put anything in for what PHI covers as all doctors costs have requested payment prior to admission and I didn't have the cash up front and mentioned this in the letter

 

So you sound pretty spot on Mummy! Good luck with your application  :)

When I got my approval letter my super company wanted a copy of a bank statement so they could verify the account the money was going into (which sounded kind of weird) but I couldn't get to a scanner for a few days so they sent a cheque for the money instead

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Thank you so much Jelly xx

Yeah my PHI covers surgeon & the lap band, but I don't have the hospital cover as it changed & I didn't realise ( as hubby had band a few years back on our cover) so hence the super release. I will though increase PHI I case dramas with either hubby or i's.

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I emailed my application in on 22/05/14 and received a letter in the mail yesterday requesting information. They want confirmation from my PHI of what they cover and what my excess is.

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Thanks Sav. I just want to make sure I'm on the right path.

Does anyone know about the tax you pay? Do you request more to cover the tax?

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They'll do the tax part for you, it's usually 21.5% I think? You'll get a statement to add the payment to your "income" for tax time as well. You just have to request the amount you need

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