Couples health insurance - do you earn more than $140,000?
We’re a couple and we earn more than $140,000 a year between us
If you’re a couple with a combined annual taxable income of more than $140,000 a year and you don’t have private hospital cover, you may have to pay the government a Medicare Levy Surcharge. This is an additional 1% tax on top of the 1.5% Medicare Levy paid by all taxpayers. But if you have private heatlh cover, you won't have to pay the Medicare Levy Surcharge.
So if you have a combined annual taxable income of more than $140,000, you can either:
- Pay the higher tax each year
OR
- Take out couples health insurance with HBA hospital cover, which could actually cost less than the Medicare Levy Surcharge.
Of course, by taking out private hospital cover you’ll enjoy tax benefits - because you won't have to pay the Medicare Levy Surcharge. Plus, we offer a range of couples health insurance options that not only offer you quality private health cover, but may also cost less than the Surcharge itself.
