Fusion Partners Central Coast - accountants, business advisors, financial planners Institute of Chartered Accountants

The 30% Private Health Insurance Rebate


Prepay till 30 June 2013 to still get the 30% rebate

 

created by Lisa Cahill - Fusion Partners Central Coast

08 June 2012

 

As you may be aware from the 2012 budget announcement, the government will be implementing a means test for the private health insurance rebate from 1 July 2012. 

This may mean that your private health insurance premium will increase by up to 30%.

We encourage you to personally contact your health fund in order to review your options regarding the prepayment of your health insurance premiums.

In some cases, health insurance providers are allowing members to pre-pay up to 18 months of premiums.

In monetary terms, an average family earning above $260,001 will save approximately $1,000 through prepayment of premiums before 30 June 2012.

 

Private Health Insurance Rebate Tiers

 

If you would like further details, please contact us, or visit:

http://www.privatehealth.gov.au/healthinsurance/incentivessurcharges/rebatechanges.htm

 

 

 

Disclaimer

This article has been prepared for clients of Fusion Partners Central Coast (FPCC) ABN 37 113 405 218 and others on request.

The article is based upon generally available information and is not intended to be, or to replace specialist advice in the areas covered but rather, the article is intended to be informative and educational only.

Although the information is derived from sources considered and believed to be reliable and accurate, FPCC, its employees, consultants, advisers and officers to the maximum extent permitted by the law disclaim all liability and responsibility for any opinion expressed or for any error or omission that may have occurred in this document.

This article may contain general advice which is defined in the Corporations Act to mean that we have not taken into account any of your personal circumstances, needs or objectives. It is therefore imperative that you determine, before you proceed with any investment or enter into any transactions, whether the investment or transaction is suitable for you in consideration of your objectives, financial situation or needs and you must therefore, before acting on any information included in this article, consider the appropriateness of the information having regard to your personal situation. FPCC recommends that you obtain financial and tax or accounting advice based on your personal situation before making an investment decision.

All investments should be made with consideration of risk after reading the FSG and PDS of the product provider, and after obtaining professional advice from a financial planner.

This article was created by John Cahill, based on legislation in place at the time.  Legislative changes may mean that this information is no longer current.  You should speak to your financial adviser.