The Government’s Private Health Insurance Rebate | Compare The Market

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The Lowdown on the Government’s Private Health Insurance Rebate

If you’re considering investing in private health insurance, but are feeling worried about the high expense of premiums, you’ll be happy to learn that the Australian government might be able to give you a helping hand. Keep reading to discover how you can ensure and protect your health and wellbeing for the future, and possibly save money at the same time.

What is the Rebate?

It’s quick and easy to work out what percentage of the rebate you might be eligible for using the tables below. Just make sure you know the details of your income.

Health Rebate Table

 

How Do I Make A Claim?

Once you know that you’re eligible for the rebate, there are two ways you can go about making a claim. It can be done through your private health insurer in the form of a reduced premium, or you can lodge the rebate through your annual income tax return with the Australian Taxation Office. If you choose the latter option, your insurer can provide you with a statement that will help you to fill in your tax return. On the other hand, if you decide to process the claim with your insurer, you’ll need to nominate the tier you expect to fall into, otherwise you could be subject to a tax liability.

 

The Final Word: A Helping Hand

Image Credit: 68751915@N05It might sound daunting at first, but working out your private health insurance rebate is quite a simple process once you break it down bit by bit. Either way, it’s definitely worth investigating if you currently have private health insurance or if you’re interested in applying for it. If you’re eligible for a premium reduction, you’ll undoubtedly be pleased to be able to save a great deal of money in the long run, while not compromising the health and safety of yourself and/or your family.

 

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Launched in September of 2012, Comparethemarket.com.au – operated by Compare the Market Pty Ltd (CTM) – has teamed up with a range of Australia’s insurance providers so you can compare some of the latest deals, in one place, side-by-side. The team behind comparethemarket.com.au have experience in insurance, comparison, customer service and digital. If this was a stuffy corporate monologue, we’d tell you that we’re a bunch of subject matter experts specialising in User Experience, Customer Insights & Online Strategies. But to be honest, it’s just as accurate (and a whole lot easier) to say that we’re a bunch of people who want to make your experience with online comparison better. We pride ourselves on the fact that we’re forward-thinking, that we share an entrepreneurial spirit, and the fact that we like to have a bit of a laugh too. We’re all a bit too addicted to chocolate, but no one’s perfect, really.

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