Get an eGift Card worth up to $300^
EGIFTCARD
when you join.Join Hospital and Extras Cover by June 30 and get an eGift Card worth up to $300^. Singles get $150 | Couples and Families get $300
^One Prezzee Swap eGift Card is issued per new membership, not per person/member. Available when you join on any combined (Hospital and Extras) cover (eligible cover) by 30 06 2021. You must quote the promo code EGIFTCARD at the time of joining and maintain eligible cover continuously for 60 days from the cover start date. If the policyholder changes to an ineligible cover during this period, eGift Card will not be issued. The policyholder’s membership must be financial to receive offer. Offer excludes employees and Board Members of Health Partners. Not available in conjunction with any other offers. Health Partners reserves the right to amend the offer terms and conditions, including withdrawal.
Full Terms and Conditions available https://www.healthpartners.com...
Supplier Terms - https://www.prezzee.com.au/doc...
What is the Medicare Levy Surcharge?
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The Australian Government introduced the Medicare Levy Surcharge (MLS) to reduce demand on the public health system by encouraging those on higher incomes to take out private health insurance. Basically, if your income exceeds the MLS threshold and you don’t have hospital cover you’ll need to pay extra tax on your income at tax time. The MLS is additional to the standard Medicare Levy, which is unavoidable to most Australian taxpayers.
We've broken it down for you.
The surcharge starts at 1% of your income for MLS purposes, rising as your income increases. So, take a look at the table below to see if you need to pay the MLS at tax time.
| Singles | Under $90,000 | $90,001 – $105,000 | $105,001 – $140,000 | $140,001+ |
| Families | Under $180,000 | $180,001 – $210,000 | $210,001 – $280,000 | $280,001+ |
| Surcharge | 0% | 1% | 1.25% | 1.5% |
Source: www.privatehealth.gov.au
Single parents and couples (including de facto couples) are subject to family tiers. For families with children, the thresholds are increased by $1,500 for each child after the first.
Can you avoid it?
That's where Health Partners can help.
If you’re single and earn over $90,000 (or $180,000 for families and couples), taking out hospital cover could reduce your income taxes by avoiding the MLS. For example, if you have our Basic Hospital Plus cover, you will avoid the need to pay the MLS. Plus depending on how much you earn, hospital cover could be cheaper than the MLS. Let us show you.
 John | | |
| Income | 100,0001 | 100,0001 |
| Private hospital coverage | No | Yes
Health Partners Basic Hospital Plus |
| MLS at tax time | $10002 | $0 |
| Health Insurance Premiums | $0 | $941.971 |
| What this could mean... | John is reliant on the public system. He could experience long wait times and high out-of-pocket expenses if he requires private elective surgery.
With an average trip costing over $1,0004, John could be up for a hefty emergency ambulance bill. | Jane saved $58 by holding hospital cover throughout the tax year. She can choose her procedure schedule, specialist and stay in her own room3. Jane is covered for accidents, even for categories listed as exclusions.
Jane's cover offers unlimited emergency ambulance. |
1. Income and premiums displayed for the entire tax year. Quoted Basic Hospital Plus premiums are for a single living in SA earning $90,001-105,000 aged under 65 (include the Tier 1 Govt. Rebate, or 16.405%).
2. Assumes taxpayer has no dependants
3. If the procedure’s clinical category is included on the Basic Hospital Plus cover (includes Joint reconstructions, Tonsils, adenoids and grommets and Dental surgery). Private room is subject to availability.
4. SA Ambulance Service, 2021
Why get hospital cover when there's a public system?
The reasons for choosing Hospital Cover can be varied, however there are a few common trends that are motivating people to take out cover, even when they have access to a good public health system. Here we outline some of the most common reasons.
Choose great value Hospital cover to suit your needs and budget. Compare here
Jump the queue
With Hospital Cover you can avoid long public hospital waits, which can take months or even years, by choosing your own doctor and timing for treatment.
Choose your own specialist
You get to choose your own specialist, as well as where and when you’ll be treated.
Have the same specialist care from start to finish
Continuity of care is something that can’t be undervalued.
Recover in the privacy of your own room
All levels of hospital policies cover you for a private room, where one is available, giving you comfort and privacy during your recovery.
Let’s chat about your situation and whether you’d be better off. We’re here to help you understand health insurance, let’s talk.
Posted: May 20 2021
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