What is the private health insurance rebate?
The Australian Government Private Health Insurance rebate is a government initiative to help Australians pay their health insurance premiums. If you have private health insurance (hospital, extras, or a combined policy), this rebate can either be claimed through your tax return or in the form of a reduced policy premium.
Why does the Australian Government have the rebate in place?
The more people who buy private health insurance, the less stress is put on our public healthcare system (Medicare). This saves the government money.
Who is eligible for the private health insurance rebate?
The amount of rebate you are entitled to depends on your taxable income, age, and relationship/parental status. You must be eligible for Medicare (e.g. hold a blue or green Medicare card) to receive the rebate, in addition to holding a private health insurance policy.
The income thresholds below will reportedly stay the same until the 30 June 2018, when they will be reviewed once again.