Federal Government Rebate
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The Federal Government provides a 30% Rebate on the cost of private health insurance to make it more affordable by reducing your health insurance premiums.
The Rebate means you will get at least 30 cents back for every dollar you spend on your private health insurance premiums. For example, if your health insurance premium is $1,000 a year, you will receive $300 back from the Federal Government.
If you are an Australian resident who is eligible for Medicare you can receive the Federal Government Rebate when you take out private health insurance. The Rebate applies to hospital cover, extras only cover, and hospital and extras packages.
The minimum Rebate is 30% but it may be higher depending on the age of the oldest person on your health insurance policy. |
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Age of the oldest person on your policy |
Federal Government Rebate |
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64 years or younger |
30% |
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65 to 69 |
35% |
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70 or older |
40% |
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How do I claim the Federal Government Rebate?
Most nib health insurance customers claim the Rebate upfront as it reduces the amount they pay to nib. However, you can choose to wait and claim the Rebate when you lodge your tax return or visit a Medicare office to receive a refund.
For more information about the Federal Government Rebate
2009 Federal Budget proposed changes update
The Senate has rejected the Federal Government's proposal to means test the Private Health Insurance 30% Rebate and increase the Medicare Levy Surcharge (MLS). |
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