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    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
    morePrivate Health Insurance Rebate
    moreMedicare Levy Surcharge
    moreLifetime Health Cover (LHC)
    Private Health Insurance Rebate Medicare Levy Surcharge Lifetime Health Cover (LHC)
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    Your Rebate

    All Australian residents, who are entitled to Medicare, are able to claim an income tested rebate on their private health insurance; would you like to apply your rebate?

    For individuals earning between $88,001 - $102,000 (or $176,001 - $204,000 for families*).
    *For families with children, the thresholds are increased by $1,500 for each child after the first.

    How rebate tiers workX

    Most Australians with private health insurance currently receive a rebate from the Australian Government to help cover the cost of their premiums. The private health insurance rebate is income tested. The table below details the different rebate amounts and Medicare Levy Surcharge levels.

    The rebate applies to hospital, general treatment and ambulance policies. It does not apply to overseas visitors cover. The rebate levels applicable for 1 July 2013 to 30 June 2014 are:

    Singles
    Families    		 ≤$88,000
    ≤$176,000    		 ≤$88,001-102,000
    ≤$176,001-204,000    		 ≤$102,001-136,000
    ≤$204,001-272,000    		 ≤$136,001
    ≤$272,001
    Rebate
    < Age 6530%20%10%0%
    Age 65-6935%25%15%0%
    Age 70+40%30%20%0%

    Single parents and couples (including de facto couples) are subject to family tiers. For families with children, the thresholds are increased by $1,500 for each child after the first. http://www.privatehealth.gov.au/healthinsurance/incentivessurcharges/insurancerebate.htm

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