Rebate Rates for The Private Health Insurance - Any Refund?

jjj123 on 02/09/2024 - 14:39

When I buy private insurance, I am unsure if we are sitting at 216K or below or over income.

If I select the 186-216K bracket (rebate 16.405%), but income over 216K, will the private insurance asks me for repayment after the tax return?

If I select the 216-288K bracket (rebate 8.202%), but actual income less than 8.2%, will private insurance company refund me ask tax return?

$186,001 – $216,000 for a family

16.405%

$216,001 – $288,000 for a family

8.202%

thanks.

Comments

edumacation on 02/09/2024 - 14:40

+9

It will come out of your tax as a credit or debit depending on which bracket you end up being. The rebates are from the government not the insurance companies
Dollar General on 02/09/2024 - 16:22

+1

It will get sorted when you lodge your tax return
c64 on 02/09/2024 - 16:45

select the highest rebate rate / lowest income bracket