RE: Government changes to Private Health Insurance rebate and Medicare Levy Surcharge
February 16, 2012
The Federal Government yesterday announced that means testing of the Private Health Insurance rebate has successfully passed through the House of Representatives and is expected to come into effect as of 1 July, 2012.
FIT recognises that this legislative change will affect a percentage of FIT members, although we believe that many existing members will not be affected and will notice no change to their rebate this July.
Speaking on behalf of FIT Health Insurance, GMHBA Limited Chief Executive Officer Mark Valena said, “We are disappointed for our members who will be affected by this change. While we are currently working through the details of how the legislative changes will come into effect and all associated regulations, we encourage all FIT members who believe they are within the government’s new income tiers to contact us if concerned so that we can help them determine whether their rebate will be affected or not”.
“It’s always best to discuss such matters with experts. At FIT we want to ensure that all members are fully informed and understand their options.
“In light of the changes to the rebate and Medicare Levy Surcharge, we feel that there has never been a more important time for Australians to keep their private health insurance. Although this legislative change could impact the entire private health sector; we believe that private health cover will continue to provide value and peace of mind,” Valena said.
At FIT, we stand by our value-for-money health insurance and maintain that our affordable range of products continue to provide members with many health benefits.
It’s important to note that these changes do not come into effect until 1 July 2012, so there is no need for members to take any immediate action. We encourage all members to read the following FAQs to better understand who will be affected and how.
FIT will communicate any updates regarding these changes to members as soon as more details become available. All FIT members concerned about their health insurance are welcome to contact FIT at 1300 348 111.
FIT Health Insurance is bought to you by GMHBA Ltd.