If your taxable income is above the Medicare Levy Surcharge thresholds and you do not have an appropriate level of private hospital cover, you may have to pay the Medicare Levy Surcharge. This is an additional 1% in tax (on top of the Medicare Levy we all have to pay).
The good news is that you can avoid the Medicare Levy Surcharge (and pay less tax) by joining an nib health cover with a hospital excess of $500 or less for singles, and $1,000 or less for couples/families, per calendar year.
For more information about the Medicare Levy Surcharge, visit the: