ATO: Medicare Levy Surcharge - Private Health Insurance

shaned on 07/05/2017 - 20:14

Hello Ozbargainers,

I have been pondering on my day off on how to save a bit of tax so I thought I would come to the oracle of users on here (after reading through older threads)

Long story short, I am looking at getting private health insurance as I will be above the threshold (Tier 2).

Currently only require it to avoid the medicare levy surcharge and ideally would like to have basic dental included (annual check up and clean)

The cover is single male.

What are your recommendations ?

Thanks in advance.

Health & Beauty

Related Stores

Australian Taxation Office
Australian Taxation Office

Comments

  • benwaffle on 07/05/2017 - 20:53
    +1

    HiF GoldVital cover is the cheapest hospital cover to avoid MLS

  • CLoSeR on 08/05/2017 - 08:14

    Would be cheaper to have something like Basic Hospital Cover, don't add extras like Basic Dental as the yearly premium will far outweigh the cost of your single dental visit per year.

    Best site to compare all the health funds is the government one, privatehealth.gov.au

    • conan2000 on 08/05/2017 - 09:15

      Usually the extras cover more than annual for dental though. We pay ~$30p/m for extras with Bupa (a family package), covers 6 monthly dental check-up for two people, we get about $600 per year back from this alone. We pay for a more expensive hospital package though, so not sure if that affects how much we pay for extras. Given it also includes, optical, physios and a bunch of other things. Extras is the best value part of our package by far. We barely ever need/use the hospital cover. But we get a return on our extras multiple times over.

      Basic hospital cover makes more sense though depending on your situation. But I'd definitely recommend extras for most people.

  • bobbified on 08/05/2017 - 09:14
    +2

    Currently only require it to avoid the medicare levy surcharge

    I'd be waiting until at least tomorrow to see what's in the budget.

    There's been talk about "high income earners" having to pay the Medicare Levy regardless of whether they have Private Health Cover or not.

    For eg:
    http://www.smh.com.au/federal-politics/political-news/all-hi…

    …would like to have basic dental included (annual check up and clean)

    The dental cover is included in the "Extras" category, which is not part of the requirement to avoid the existing MLS.

    If you get a package, it'll be "Hospital" (which will help you avoid the MLS) and the "Extras" (dental cover).

    The two different cover types can be mixed and matched with different providers - doesn't have to be from the same one.

    • shaned on 08/05/2017 - 14:29

      that definitely throws an important spanner in the works for me.

      Thanks for the heads up, Ill be sure to keep an ear out for the budget.

  • Gunther on 08/05/2017 - 21:07

    HiF GoldVital - message me for referals :D

    • shaned on 09/05/2017 - 09:40

      how much a month ?

      • Gunther on 09/05/2017 - 13:21

        I paid upfront for around $700/yr with full rebate claimed.

        • shaned on 11/05/2017 - 10:40

          how does the referral work ?

Login or Join to leave a comment
Login Join