In Health Insurance

Australian Tax Office | Health Insurance

Eligibility for a discount or deduction from your personal health insurance is based on the oldest member of your insurance and your individual or household incomes, according to your marital condition. When you have your own health insurance, we charge the amount of the discount for your own health insurance that you can get when you file your declaration.

Your discount for your personal health insurance can be claimed as: recoverable deduction of taxes on your personal returns. You may be subject to a deduction or obligation based on: your Medicare Revenue for the purpose of the Medicare Apportionment Allowance. You are entitled to a discount or deduction from your personal health insurance contributions based on the oldest insured person's retirement date and your individual or household incomes.

Ministry of Health | Average increase in insurance premiums by year

Notice that an insured person's increased premiums may be above or below the sector's or insurer's median growth. Insurance companies shall notify their members in written form of the precise contribution increases for their respective policies. Whilst the numbers reflect the mean rise in premiums, this is not an indication of what each and every customer can have.

Certain product may have either a lower or a higher uplift. Once an insurance company has implemented this as part of its product range available from April 1, 2019, some policyholders will benefit from a contribution cut of up to 10 percent. Insurance companies shall notify their members in written form of the precise contribution increases applicable to their policies.

However, the discount adjustment factor used to adapt the contribution refund rate cannot be computed until the CPI for the December third quarter has been published by the Australian Bureau of Statistics at the end of January 2019. Consequently, until that date, insurers will not be able to make final information on changes in the level of premiums available to their policyholders.