The Early Release of Superannuation program may allow you to access your superannuation funds for necessary medical care, including dental work. Depending on the circumstances and the area where you reside, your super funds may be released if the public health system won’t cover your medical costs.
How Do I Know If I Can Access My Superannuation?
Specific criteria must be met to qualify for the early release of funds. These criteria include the following:
Financial hardship – You will need to show documentation that you cannot afford the necessary dental work through any other means than your super.
Necessity – Your dentist and possibly one other medical professional will need to document the work that needs to be done and certify that it is necessary for you to maintain good health.
Amount limit – Depending on the situation, there could be a cap on the amount of money you can draw from your superannuation.
How Do I Begin?
Before you attempt to access your super funds, we recommend you talk to your financial advisor about how early access might affect you in the long term. You may want to explore other payment options, depending on your situation.
If you decide to move forward with accessing your superannuation early, you will want to talk to someone who works with your superannuation fund to discuss the guidelines and conditions for early withdrawal.
Your McCrae Dentist Welcomes Your Call
At Bays Dental Clinic, we are here to help answer any questions you may have. You can call us on (03) 5982 1333.