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Home » Why Choose Us? » Corporate Governance

Corporate Governance

The role and responsibilities of the Board of Directors (the Board) are set out and the Board operates in accordance with the broad principles set out in its Board Charter.  The Board Charter also details the membership and operation of the Board. The Board provides overall strategic guidance for Teachers Federation Health Ltd (TFH) and effective oversight of management. The Board ensures that the Company complies with its Constitution and all legal and regulatory requirements. The Board has developed Corporate Governance Guidelines that detail the principles and practices of the Board in respect of the Corporate Governance of Teachers Federation Health Ltd.

The Board comprises twelve Directors, each of whom is required by the Constitution to be a non-executive Director. Teachers Federation Health seeks to maintain an appropriate mix of skills, expertise, experience and diversity on the Board to ensure an understanding of and competence to deal with current and emerging issues relating to the Fund’s business and enhance the performance of the Company.

 

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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