About private health insurance
Government initiatives
There are financial reasons why you should take out private health insurance and each reason will help you save some money.
How you can save on private health insurance
Penalties and incentives offered by the Government aim to encourage you to take out private Hospital cover to help alleviate the pressure on the public hospital system.
By taking out Hospital and/or Extras cover you will be rewarded with a reduced contribution of at least 30% with the Private Health Insurance Rebate (pending taxable income).
Also, by taking out Hospital cover you can:
- avoid paying additional tax if you are a high income earner
- avoid paying the Lifetime Health Cover loading so you can pay a lower contribution rate if you take out Hospital cover earlier in life