When it comes to the private health insurance rebate, we’ve noticed that a few of our clients are repaying some or all of their rebate.
As a trusted advisor, we would like to educate our clients about these rebates and how they can potentially save from it. So here are some of the most commonly asked questions about the private health insurance rebate. You can also find more information by visiting the Australian Government Department of Health website.
Who is eligible for the private health insurance rebate?
A person may claim the private health insurance rebate if they:
- are eligible for Medicare;
- have a complying health insurance product (CHIP) that provides hospital treatment,
- general treatment (also known as ancillary or extras) cover or both; and
- have an income for Medicare levy surcharge purposes below Tier 3 in the table below.
What is my private health insurance rebate?
The Australian Government provides an income tested rebate to help people meet the cost of private health insurance. The rebate you are eligible to receive will depend on your income tier and family composition.
From 1 July 2015 to 1 July 2018 a person’s eligibility for the Rebate will be determined based on the following income tiers:
If you want to know more about your private health insurance be sure to contact your current provider.
