What is the private health insurance rebate?
It’s money paid back to you by the Federal Government for the cost burden of private health insurance. Think of it as a thank you for helping free up the public health system. Anyone can claim the rebate if they have health cover and are eligible for Medicare. The rebate is: • 30% of your premium if you’re aged up to 64 years • 35% of your premium if you’re aged between 65 to 69 • 40% of your premium if you’re aged 70 or more Put simply, you’ll get at least $300 back for every $1,000 you spend on health insurance. You can claim the rebate as a reduction to your membership premium, as a tax rebate when you lodge your annual tax return or as a direct payment from the Government through any Medicare office. The easiest way is to register with Frank. Frank will then deduct the rebate from your premium, so you pay less.
