Premium Support Scheme (PSS) - important information

The Premium Support Scheme (PSS) is an Australian government initiative designed to help medical practitioners with the cost of their medical indemnity insurance. MIPS administers the scheme on behalf of the government for eligible members. Medical practitioners may be eligible if:

• their gross medical indemnity costs exceed 7.5% of their estimated gross income generated from private billings; or
• they are a procedural general practitioner in a rural area (RRMAs 3-7); or
• they previously applied and were deemed to be eligible for a subsidy under MISS (i.e. former MISS participant); or
• they have retired from private practice ($0 private medical income for the full membership period), but continue to practice in the public sector and their medical indemnity costs include run-off cover for incidents relating to prior periods of private practice.

To assess whether you are eligible for the scheme you will need to return a completed PSS application to MIPS. If you are eligible, you will receive a refund or a reduction in your membership fee for the relevant membership period.

It is important to note that if you are advanced a PSS subsidy, you are obliged to complete a Final Determination/Statutory Declaration and declare your actual gross private medical income within 12 months of the end of the subsidy period. This may lead to an amendment to the level of subsidy you are eligible for, which may result in part or the entire subsidy being repaid or a subsidy increase. Failure to return the Final Determination/Statutory Declaration by the due date will require you to return the full subsidy advanced.

If you think you may meet one of the above eligibility criteria and you have not yet opted into the PSS please contact MIPS on info@mips.com.au or 1800 061 113

Share this on:

MIPS Matters Winter 2015 contents