Using your superannuation
for weight loss surgery
Paying for surgery can be a big hurdle, but you might be able to access your superannuation to help with costs.
Our clinic works in collaboration with SuperCare, a registered tax agent, to assist eligible individuals in preparing and lodging applications to the Australian Taxation Office under the Compassionate Release of Superannuation (CRS) program for approved medical surgical procedures. SuperCare provides structured guidance on documentation, compliance, and submission requirements, ensuring applications are managed in accordance with current ATO guidelines & regulations. This process enables a streamlined, compliant process for those seeking to apply.
Real stories, real results
“I'd just like to spare a moment to let you know how thoroughly impressed I've been using SuperCare to help with my Release of Funds on Compassionate Grounds to pay for my upcoming operation. It has been super simple - literally two phone calls and the whole process has been completed.
I'd also like to pass on my massive thanks to your team member, Lauren, who was assigned to my case. Not only did she make the process efficient, but due to an issue that's arisen on Brighter Super's (my super fund) side, she has been incredibly receptive and reactive in trying to help me deal with the situation.
I couldn't think of a better person and a better team to organise this for me. I would've been incredibly lost without SuperCare and your wonderful team.”
How it can help
Superannuation can be used to pay for weight loss surgery if you don’t have private health insurance or if out-of-pocket costs are too high.
You can apply to use your super for surgery fees, hospital charges and sometimes even travel or accommodation, making it easier to get the care you need.
TLC
You might consider a payment plan through Total Lifestyle Credit (TLC) instead who offer finance for medical procedures.
Whether you have private health insurance or not, you may have the option of applying for early release of your superannuation on compassionate grounds to cover the cost of weight loss surgery.
Please be aware that the outcome of this application is at the discretion of the ATO and your individual superannuation fund, and approval may not always be granted. Your application will need to be accompanied by forms endorsing the application.
You will need to first have an initial consultation with Dr Greenslade. We will provide all necessary information on the process of applying for release of superannuation on compassionate grounds after this appointment. You will then need to contact SuperCare on 1300 665 440 to begin your application.
Our practice policy requires you make a surgery booking before we will complete the relevant paperwork so we can provide SuperCare with an accurate estimate of fees. Payment is required prior to surgery, and treatment will not take place before you receive both ATO approval and your release of funds. This means you will not be put in the uncomfortable position of having a bill you are unable to pay if your application is rejected or your release is delayed. Your surgery date can be changed in the event of delays in your super release and can be cancelled in the event of a rejected application without penalty.
We advise that any date for surgery should be a minimum of 6 weeks from the time of initiating the application, to allow ample time for this process to be completed and for funds to clear in your account. Through SuperCare, the ATO approval process can take 14 working days (this timeframe can vary depending on how busy the ATO is). It can then take 7 – 10 working days for your superannuation company to process the release of funds into your nominated account, from the date they receive your approval letter.
Please be aware if you are a member of AustralianSuper we may need to allow extra time due to extended delays in the release of funds.
Once approved by the ATO, you will receive an approval letter in your MyGov inbox which you will then need to send to your superannuation company before they can process the release of funds into your account as a lump sum payment.
SuperCare is available to assist with this process and will provide you with the necessary instructions to complete the release of approved funding. You will then need to make separate payments directly to the hospital, the surgeon, the anaesthetist and assistant surgeon.
Our clinic now only supports patients accessing their super via SuperCare, a company that facilitates your application to the ATO on your behalf (applications are no longer handled by the Department of Human Services). We no longer accept patients who wish to apply directly to the ATO as this has become increasingly problematic, resulting in delays, rejections and rescheduled surgeries. Our practice does not receive any form of kickback from SuperCare.
We simply endorse their services in the interest of making life much easier for patients and ensuring the process is smooth and hassle-free, with little chance of having your application rejected. SuperCare offers end to end management of the application process requesting all medical information required for a successful outcome.
SuperCare does not charge an upfront fee for their services. You only pay their service fee of $480 upon approval of your application. In the unlikely event that your application is declined, and the decision is unable to be overturned to a positive outcome, SuperCare will not charge you a fee.
Please note that tax is payable on super amounts withdrawn early on compassionate grounds. For more information, visit the ATO website. An early release of super will generally count towards your assessable income for income tax purposes, and will need to be included in your tax return.
You can optionally access an additional $1000 to cover post-op support, such as dietitian and psychologist appointments. Please inform us if you would like to do this so we can ensure it is added to the paperwork we provide to SuperCare.
To get an idea of the kind of support you may need to set yourself up for success after your surgery, click here.
SuperCare can advise you of the portion of super you may access if your application were approved, accounting for tax and other ATO minimum requirements on your super balance.
You can also apply to access your spouse’s super and, in some instances, a parent’s super. You can even do a joint application with your partner or spouse (including same sex couples and defacto relationships) releasing super from both parties. SuperCare charge a $90 joint application fee which is also paid on approval – only for approved applications.
For more information you can contact SuperCare on 1300 665 440
Start your weight loss surgery journey with Brisbane Bariatric Centre today
If you’re thinking about weight loss surgery or just want to know what’s possible, we’re here to help. Get in touch to book a chat with Dr Justin Greenslade and find out what’s right for you.
