Private Health Insurance Rebate
The Australian Government introduced the Private Health Insurance Rebate (also known as the Federal Government 30% Rebate) initiative in January 1999. For every dollar that you contribute to your private health insurance premium, the Government will give you back at least 30 cents as a Private Health Insurance Rebate. The Rebate increases depending on your age:
- 30% for people under 65,
- 35% for people aged 65-69, and
- 40% for people aged 70 and over.
The Rebate is not applicable for overseas visitors health cover.
How to claim the Rebate
All Australians who are eligible for Medicare and who are members of a registered health fund, no matter what their level of cover, income or type of membership, are eligible for the rebate. The Rebate applies to both hospital and general treatment (ancillary or extras) policies.
There are three ways to claim the Rebate:
- ask your registered health fund to provide the Rebate as a premium reduction,
- receive a direct payment from the Government through your local Medicare office, or
- claim it back on your tax return, using a statement your health fund will provide at the end of the financial year.
If your employer has paid your premium on your behalf, you are still entitled to claim the Rebate.