In late 2017 the Health Minister announced a number of wide ranging private health insurance (PHI) reforms that came into effect in 2019. These reforms will focus on improving affordability and reducing the complexity of private health insurance products.
Australia’s health is important to the Government, and they want all Australians to enjoy the benefits that come with living a healthy lifestyle.
The Federal Government has certain incentives in place to encourage you to take out private health insurance and keep it. Find out how the Australian Government Rebate, Lifetime Health Cover loading or the Medicare Levy Surcharge could affect your premiums based on your income or age.
Depending on your income, you may be entitled to the Australian Government Rebate on private health insurance, which gives you a lower premium.
If you're over 31 and don't have health cover, Lifetime Health Cover will affect the amount you pay for your health insurance.
The surcharge applies to higher income earners that don't have private health insurance, so having hospital cover can cut down on paying additional tax.
Frequently asked questions
It is important to Queensland Country Care Navigation to protect and keep a Client’s personal information, including their health information, securely. To achieve this we are committed to complying with the requirements of the Privacy Act (Cth 1988) the Australian Privacy Principles (APPs) and the APRHA Board Code of Conduct for Registered Health Practitioners when we collect, hold and manage a Client’s personal information, that is, information that allows others to identify an individual.
What is the Australian Government Rebate?
The Australian Government Rebate on private health insurance is a financial incentive introduced by the Federal Government to help Australians afford private health insurance.
The rebate scheme provides you with a rebate on your premium (based on the age of the oldest person covered by your policy), which you can take either as an ongoing reduction of your premium (essentially like a discount), or you can receive part or all of the rebate as a lump sump at tax time.
Find out more about the Australian Government Rebate on private health insurance.
What is the Medicare Levy Surcharge?
The Medicare Levy Surcharge (MLS) applies to higher income earners that don't hold hospital cover. The surcharge is designed to encourage people to take out hospital cover and reduce the demand on the public health care system.
If you don't have a hospital cover and have an income above the ATO's threshold, you may pay between 1% and 1.5% of your income as the Medicare Levy Surcharge. This is in addition to the standard 2% Medicare levy.
All of our hospital covers exempt you from paying the surcharge.
Find out more about the Medicare Levy Surcharge, including details on the income thresholds and surcharge percentages.