The Federal Government provides a rebate on premiums for private health cover. The rebate applies to both hospital and extras cover. If you're under 65 the rebate is 30%. If at least one person on the policy is aged between 65 and 69, the rebate increases to 35% and if at least one person on the policy is aged 70 or over, the rebate increases to 40%.
The Federal Government has also introduced provisions to protect older Australians who are receiving the higher rebate. Where a person is entitled to an increased rebate because someone else on the policy is 65 or older, he or she will continue to be entitled to the higher rebate if the older person leaves or is no longer covered by the policy.
You can lower your health cover premiums by applying to receive the rebate as a reduction in the premium you pay to St.LukesHealth, providing everyone on your policy is eligible for Medicare benefits. All you need to do is complete the
Federal Government Rebate application form.
Alternatively, you can claim the rebate in your annual tax return, or as a refund at any Medicare office.