No private health insurance?
If you are not privately insured there are a number of options that you may consider that will help you finance your obesity procedure.
Patient finance
There are a number of finance companies who can assist patients by providing personal loans for medical expenses. Talk to your finance advisor for advice on the various options available.
Early release of superannuation
Patients may apply to APRA, the Australian Prudential Regulation Authority, for early release of superannuation funds to cover part or all of the cost of undergoing gastric banding surgery. Check with your financial advisor to see if this is right for you. More details can be found on the APRA website.
If you chose to apply for this, three documents need to be lodged:
- Completed application form from the APRA site
- A letter of support from your General Practitioner
- A letter of support from Dr Reza Adib – we will provide this following your initial consultation
Note that processing time by APRA generally takes around 6 weeks.
Tax Rebate Scheme
A significant rebate may be claimable through your end of year tax return. You may claim a tax offset of 20% of your net medical expenses over $1,500. There is not upper limit on the amount you can claim & it is not means or assets tested.
As always, check with your accountant or financial advisor if this may apply to you. Further details can be found on the Australian Taxation Office website.
Click here if you wish to make an appointment with Dr Adib.