Private Health Insurance Legislation Passed Last Week

The affordability of PHI received a setback last week as two pieces of legislation passed the Senate:

From 1 April 2014 the Rebate for each private health insurance policy will be indexed by the lesser of the CPI percentage change or the change of the premium charged by a private health insurer that is approved by the Minister.

The Rebate on private health insurance is no longer payable the on Lifetime Health Cover loading paid by Australians who do not take out PHI by the age of 30.

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