The end of the financial year is often an important time for Australians to evaluate their spending and see where some savings can be made.
Many adults will have the added burden this year of needing to take into consideration the federal government's decision to means test the 30 per cent rebate on private health insurance.
From July 1, some high income earners will end up paying more for their private health cover, as they will no longer be entitled to premium reductions through the rebate.
However, some individuals may choose to defer the application of the means testing by paying their premiums for the next 12 months before June 30.
Health Insurance Consultants Australia (HICA) is providing information on the significant changes that are occurring from July 1 and helping to answer some frequently asked questions about the reform.
The means testing will have an impact on singles, couples and families alike, so HICA has released a brochure to address some of the concerns Australians may be having.
The brochure is available on the HICA website – alternatively, if you would like a hard copy to be mailed out to you, contact us on 1300 44 22 01.