Singles health cover - do you earn more than $50,000?
I’m single and I earn more than $50,000 a year
If you’re single with an annual taxable income of more than $50,000 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 did you know, private health insurance can ensure you enjoy tax benefits - because you won't have to pay the Medicare Levy Surcharge.
So if you have an annual taxable income of more than $50,000, you can either:
- Pay the higher tax each year
OR
- Join singles health cover with HBA hospital cover which could actually cost less than the Medicare Levy Surcharge.
Of course, by taking out private health insurance you'll enjoy tax benefits - because you won't have to pay the Medicare Levy Surcharge. Plus, we offer a range of singles health cover options that not only offer you quality private health insurance, but may also cost less than the Surcharge itself.
