Earlier this year as part of its 2012 budget, the Federal Government proposed a number of changes to the private health insurance 30% rebate.
Basically, the Federal Government’s private health insurance rebate is the amount of money the government gives you for every dollar you spend on private health insurance. What’s more, the rebate increases depending on your age.
So, if you’re under 65 you get 30% back. You get 35% back if you’re between 65 and 69. And you get 40% back if you’re 70 or older.
Get the picture?
Well that’s all changing. As of 1st July 2012, the government is introducing a ‘means test’ the rebate. What does this mean? Soon, if you’re a high-income earner, you could see your rebate greatly reduced or even withdrawn, drastically increasing the cost of your health cover.
The good news is health.com.au have a market leading offer to help you lock in your rebate for up to 30 months. Find out how by visiting www.health.com.au/rebate. We’ve also posted all the up-to-date information on the changes to the rebate and even included a calculator so you can see how much you could save by switching to health.com.au today!