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What Premiums are included on Private Health Insurance Statements?

April 26, 2017health insurance included premiums private statements

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What Premiums are included on Private Health Insurance Statements?

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The total premium stated on your tax statement is the total amount of premiums we received from you within the financial year. It does not reflect what the cover is worth for that period. For example: A member has Top Hospital and Essentials Standard Family cover. On 5 July 2006, this member made an annual payment of $2150.40 for cover for 1 July 2006 to 30 June 2007. The same member then made their next annual payment of $2281.40 on 27 June 2007 for cover for July 1 2007 to June 30, 2008. The total premiums received by us in the 2006/2007 financial year are therefore $4,431.80. It is this figure that will appear in the member’s 2006/2007 Private Health Insurance Statement. Our refunds are taken into account when calculating premiums.