2006 Tax Information for GMHBA Members  

Each year, all health insurance funds are required to send a Private Health Insurance Rebate statement to members who currently hold or held health insurance during the past financial year.

Funds also send a Lifetime Health Cover statement which details information on the level of hospital insurance held at the time.

Private Health Insurance Rebate and Lifetime Health Cover Statements Explained

Your Private Health Insurance Rebate (PHIR) statement documents

· Premiums received by GMHBA between the 1st of July 2005 and the 30th of June 2006. If you have recently made a payment at a chemist/GMHBA agent, or through your employer, your payment may not have been received or processed.
· The Federal Government Rebate received in the form of reduced premiums.
· The total Federal Government Rebate you are entitled to.
· Any tax rebate you could still be entitled to.

Lifetime Health Cover (LHC) statement

Your LHC statement confirms the Certified Age of Entry (CAE) of the adult member and their partner, absence days used and any age loading that may be applicable.

The LHC statement also documents your hospital cover details such as your excess (if applicable), exclusions, benefit limitations and of course, your level of hospital cover.

Your children will not be listed on this statement as Lifetime Health Cover does not apply to them. This statement is purely for your own information. It is not required in the completion of your Income Tax Return.

FAQ’s at tax time

How much can I claim back on my tax return for private health insurance?
The amount shown in the box labelled G is the dollar amount of your Federal Government Rebate reduction you have not claimed, through GMHBA to reduce premiums. This amount can be claimed on your income tax return or at any Medicare office. If you wish to claim a cash rebate from Medicare you will require a Rebate Receipt. Please contact GMHBA to arrange this.

What is GMHBA’s health fund ID?
GMH.

What does “Type of Cover” mean?
“A” is for ancillary only, “H” is for hospital only and “C” is for combined hospital and ancillary cover.

Why does the amount shown in the section called “Total premiums received by the health fund from you or your employer”, not equal the cost of 12 months membership as quoted in the brochures?
The “Premium Paid” is calculated on total monies received and processed by GMHBA during the previous financial year (1st of July 2005 – 30th of June 2006). If you have recently made a payment at a chemist/GMHBA agent, or through your employer, your payment may not have been received or processed. These payments will not be included on the PHIR statement.

What is the Medicare Levy Surcharge?
The Medicare levy surcharge is a surcharge on individuals and families on higher incomes who do not have eligible private patient hospital cover. The surcharge is 1 per cent of taxable income in addition to the normal 1.5 per cent Medicare levy. Click here or contact us for details.

Tax time can be daunting. Nevertheless if it has been a while since you reviewed you health cover feel free take this opportunity to do so.

To speak to our friendly staff drop into your local branch or contact our Customer Service Centre on 1300 136 652 to review your health cover options.

For more information regarding Lifetime Health Cover or the Private Health Insurance Rebate visit http://www.health.gov.au/