| Publication: | Adelaide Now |
|---|---|
| Date: | 18 May 2009 |
| Section: | Breaking News |
Article excerpt:
QUITTING private health insurance will cost money - rather than save it - for highly-paid Australians from next year after last week's Budget cut the 30 per cent private health insurance rebate.
The cuts, which phase in for people earning $75,000 a year and couples on $150,000, combine with an increase in the Medicare Levy Surcharge to penalise higher earners, who opt out of private health cover.
Article summary:
The Budget changes to private health insurance will decrease the health insurance rebate for higher income earners while increasing the Medicare Levy Surcharge for those who don't have private health insurance.
Treasurer Wayne Swan showed that confidence in his Budget speech. "Treasury modelling shows that, under these reforms, private health insurance coverage will remain at more than 99 per cent of its current levels," he said.
