Most Important – Nothing happens ‘til July 2010 in regards to your health insurance.
So don’t panic!!!!The Government has a bill stalled by the Senate, which is aimed at means-testing the rebate. The bill actually contravenes a promise made in writing by the Prime Minister before the last election, in which he stated NO changes would be made to the Private Health Insurance rebate if he won the election. What will happen if the Government gain control of the Senate is that the promise will be broken and higher income earners will be severely disadvantaged. If many people decide to drop private hospital cover, we will be heading back to the days of the early to mid-nineties when private hospital cover membership descended to a severely dangerous level.
From July 2010, the private health insurance rebates will reduce, for singles earning over $75,000 and couples/families earning over $150,000.
The Medicare Levy Surcharge, imposed on people who do not have private health insurance, will increase for singles earning an excess of $90,000 and for couples/families earning in excess of $180,000.
Comment here if you have any queries and we will be in touch!
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