| Monitor
Risk
Sponsors
need to regularly monitor their risk exposure.
Where the risk is transferred to a health fund, request a
monthly report on policy status and premium defaulters.
Request immediate notification from the fund when any employee
cancels their policy without your authority.
It is not uncommon for an employee to take out health insurance
to obtain sponsorship, then secretly cancel the policy or
allow it to lapse once they commence work in Australia. This
exposes their Sponsor to considerable financial risk.
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