Over 65? How the 2019 rebate changes affect your health insurance
The annual rebate adjustment on April 1 saw a decrease in the government’s private health insurance rebate. In 2018, Aussies aged 65-69 years old would have received up to 30.25% in rebates. But this year, it’s up to 29.23%.
More importantly, April 1 has seen changes in the health insurance system, including four new product tiers introduced to categorise hospital cover and make these policies easier for consumers to compare. At this juncture, it’s a good idea to review your private health cover.
Health Insurance Comparison provides a quick and easy tool for Aussies over 65 to check whether their policy is still the correct fit for them. Can you cinch a better deal elsewhere?
Use the table below to see how much you can expect to receive through the health insurance rebate, based on your annual income and family size.
|Singles||< $90,000||$90,001 – 105,000||$105,001 – 140,000||> $140,001|
|Families||< $180,000||$180,001 – 210,000||$210,001 – 280,000||> $280,001|
|Base Tier||Tier 1||Tier 2||Tier 3|
|Age < 65||25.059%||16.706%||8.352%||0%|
Studies show Australians aged 65 and older are hospitalised four times more than someone much younger.* This increase in medical expenses is compounded by the fact that your source of income may be limited to your pension after retirement. With Government rebates decreasing, it’s important to get health insurance that fits within your budget while offering maximum benefits.
Health Insurance Comparison can help you achieve peace of mind at a price that’s right for you.
To begin, get in touch with our qualified health insurance advisers, or view our health insurance comparison tool to explore your options now.
*Taylor and Francis Online, https://www.tandfonline.com/doi/full/10.1080/23288604.2017.1358796
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Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.