Private health insurance rebate no longer paid on lifetime health cover loading

Nov 22, 2012

The 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) announced that from 1 July 2013, the private health insurance rebate will no longer be paid on any lifetime health cover loading applied to the cost of a private health insurance policy for lifetime health cover.

Lifetime health cover is not paid by all individuals - it is a penalty that applies where an individual has not taken out and maintained private health insurance from the year a person turns 31.

For more information, refer to MYEFO media release (number 099-2012) issued by the Treasurer and Deputy Prime Minister Wayne Swan.

Tags: BudgetFamilyPersonal tax

Author: Mr Taxman

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