The private health insurance rebate is a government contribution to help with the cost of private health insurance. In other words, it's a a discount on your health insurance premiums.
The Australian government offers this discount to encourage more people to get private health insurance, which takes pressure of the public system (Medicare).
Depending on your income, age, family status and eligibility, you could get almost a third off the price of your premium.
Not everybody gets the same discount. There are tiers to determine how much the government will help out.
Single Income: $93,000 or below
Family Income: $186,000 or below
| Age | Rebate |
|---|---|
| 65 and under | 24.608% |
| 65 to 69 | 28.710% |
| 70 and over | 32.812% |
Single Income: $93,001 to $108,000
Family Income: $186,001 to $216,000
| Age | Rebate |
|---|---|
| 65 and under | 16.405% |
| 65 to 69 | 20.507% |
| 70 and over | 24.608% |
Single Income: $108,001 to $144,000
Family Income: $216,001 to $288,000
| Age | Rebate |
|---|---|
| 65 and under | 8.202% |
| 65 to 69 | 12.303% |
| 70 and over | 16.405% |
Single Income: $144,001 or above
Family Income: $288,001 or above
| Age | Rebate |
|---|---|
| 65 and under | 0.000% |
| 65 to 69 | 0.000% |
| 70 and over | 0.000% |
These rates have come into effect as of 1 July 2023. If you are a single parent or a couple (including de facto couples), use the family tiers. For families with children, the thresholds go up by $1,500 for each child after the first.
| Response | WA | VIC | SA | QLD | NSW |
|---|---|---|---|---|---|
| For tax reasons | 16.04% | 13.7% | 10.67% | 9.64% | 17.25% |
You're eligible for the rebate if your taxable income is under $144,000 a year as a single or $288,000 as a couple or family (the threshold increases by $1,500 for every dependent child after the first). You also must:
If you're eligible for the private health insurance rebate, you can get it one of two ways:
Your private health insurer can apply the rebate to your health insurance premiums. To claim the rebate upfront, you'll have to contact your health fund to let them know your rebate tier. Your provider applies the rebate directly to lower the cost of your premium.
When you lodge your yearly tax return online, you can claim your rebate as a lump sum (after paying a standard insurance premium throughout the year). The ATO can apply the rebate automatically when you enter the relevant information from your private health insurance tax statement into your tax return.
Unlike the Medicare Levy Surcharge, you can claim the rebate for any insurance policy, whether that's extras cover, hospital cover or a combined package.
If you choose to claim the private health insurance rebate as a premium reduction, you'll be asked to select a tier based on your estimated income – usually you do this when you take out or renew a policy.
Why compare health insurance with Finder?
We don't ask for your phone or email to see prices.
With 1 click, you can open your results to nearly every fund in Australia.
You pay the same price as going direct – we charge no fees.
SPONSORED: If you're paying for health insurance, you want to make sure that you're getting the most out of your policy.
If you're not earning over 5% interest on your savings, you're missing out.
Learn more about how the Finder Wallet works, and how you can use it to trade cryptocurrency.
Find new ways to save during your studies with our top 10 savings tips for students.
The Federal Court of Australia today dismissed proceedings brought by ASIC against Finder Wallet. The Judgment, handed down by Justice Markovic, ruled that Finder Earn was compliant with applicable consumer financial laws.
Australians are getting rid of their health insurance as prices continue to rise
The Kia EV6 GT is a vehicle that marks a significant point in the evolution of the modern performance car, a nod to the future where speed and power coexist with sustainability and practicality.
Save $152 by remembering to turn everything off at the powerpoint when not in use.
Phishing, billing and ID scams are surging, with record loses accross the country.
Aussies are sick of being made to feel like criminals at the checkout, according to new research by Finder.
