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Private health insurance rebate questions

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Initiate

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I know that a family can enjoy more private health insurance rebate (I have 0 income and my wife has stable income).

However I have the follow questions:

1. Do my wife and I need to join the same insurance company?

2. If my wife's salary fit into the Income thresholds Tier 1 with whole year coverage, but I only have 9 months coverage. How will the rebate be counted?

3. If my wife's salary fit into the Tier 1, she need whole year coverage for not being charged the MLS surcharge. But I only have 9 months coverage. How will the MLS surcharge be counted?

 

1 ACCEPTED SOLUTION

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Most helpful response

Devotee

Replies 0

Hi @willchan,

 

Thanks for your questions. We can help answer the tax side of questions, but you'll need to contact your private health insurer to discuss if there are any benefits of having a joint policy with your wife.

 

You can have a separate health insurance policy for your spouse and still complete the Private Health Rebate in myTax - the system will allow you to enter details for each person. However, you can't claim your spouse's share of the rebate unless you were both covered by the same policy for the same period.

 

You and your wife may need to pay the Medicare Levy Surcharge if:

You'll need to confirm that your combined income for Medicare Levy Surcharge purposes is below the threshold to be exempt from paying the surcharge.

 

If you haven't already claimed your rebate as a reduced premium from your fund (that is, your fund calculates your rebate for you and charges you a lower payment), we'll check your income against the thresholds and work out how much you may be entitled to receive as a refund (if eligible).

Hope that helps!

 

 

1 REPLY 1
Highlighted

Most helpful response

Devotee

Replies 0

Hi @willchan,

 

Thanks for your questions. We can help answer the tax side of questions, but you'll need to contact your private health insurer to discuss if there are any benefits of having a joint policy with your wife.

 

You can have a separate health insurance policy for your spouse and still complete the Private Health Rebate in myTax - the system will allow you to enter details for each person. However, you can't claim your spouse's share of the rebate unless you were both covered by the same policy for the same period.

 

You and your wife may need to pay the Medicare Levy Surcharge if:

You'll need to confirm that your combined income for Medicare Levy Surcharge purposes is below the threshold to be exempt from paying the surcharge.

 

If you haven't already claimed your rebate as a reduced premium from your fund (that is, your fund calculates your rebate for you and charges you a lower payment), we'll check your income against the thresholds and work out how much you may be entitled to receive as a refund (if eligible).

Hope that helps!