Private Health Insurance Government Rebate now means tested

Private Health Insurance Government Rebate now means tested

as from the 1st July 2012, the Private Health Insurance Government Rebate was means tested. This means that the government rebate you would receive on your premium would be affected in regards to the income you earn. The government rebate you would of previously received was as follows:

– Under 65 years of age – 30%
– 65-69 years of age – 35%
– 70+ years of age – 40%

Below please find the income tax thresholds

Currently, the income test thresholds are as follows:
Single Income ≤$88,000 $88,001-102,000 $102,001-136,000 ≥$136,001
Combined Income ≤$176,000 $176,001-204,000 $204,001-272,000 ≥$272,001

Rebate
< age 65 30% 20% 10% 0%
Age 65-69 35% 25% 15% 0%
Age 70+ 40% 30% 20% 0%

Medicare Levy Surcharge – No Private Health Insurance
All ages 0.0% 1.0% 1.25% 1.5%

So in summary, if your single income is more than $136,000 or $272,000 combined with your spouse, you will not get any rebate from the government.