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I have received my Private Health Insurance Tax Statement – why do I need this?

You may require your Private Health Insurance Tax Statement to:

claim the rebate as part of your tax return (if you have not already claimed it as a reduction in your premiums or from Medicare); or
prove that you had a sufficient level of cover to be exempted from paying the additional 1% Medicare Levy Surcharge.

Why do I receive a Private Health Insurance Tax Statement?

The Private Health Insurance Tax Statement is sent to all eligible members each financial year. These details are required to complete your Income Tax Return. The Private Health Insurance Tax Statement does not set out who is entitled to claim the rebate; only what rebate may be claimable.

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What is the Health Fund ID asked for in my Tax Pack?

GU Health's ID is FAI. Your Private Health Insurance Tax Statement will show this ID in the box marked 'B'. If you were a member of another fund at any time between 1 July 2010 and 30 June 2011 you will receive a statement from that fund. That other Statement will detail the health fund ID of the other fund.

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The Tax Pack asks for the "Type of Cover". What does this mean?

The Cover Code identifies to the Australian Taxation Office what type of cover you have contributed to. There are three codes available: (A) for Ancillary cover only, (H) for Hospital cover only and (C) for combined Hospital and Ancillary covers. Your Private Health Insurance Tax Statement will show this code under the 'Private Health Insurance policy details' section.

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When will my Private Health Insurance Tax Statement arrive?

Your Private Health Insurance Tax statements will be in the mail no later than 15 July 2011 and you should receive them not long afterwards, subject to your address details being correct and allowing for any postal delays. Lifetime Health Cover Statements are only being sent to members that have incurred a Lifetime Health Cover loading or who have used any of the 1,094 absence days.

If you are moving or have already moved and have not updated your address details with us please contact GU Health.

Private Health Insurance Tax Statements for deceased members will be mailed to their estate, providing notification of the member’s death has already been communicated to GU Health.

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Why aren't all family members shown on the statement?

GU Health is only required to issue Tax Statements to the Primary Member of the membership as they are the person who is legally responsible for the premiums paid on the membership.

Your statement is produced to Australian Taxation Office guidelines. It can and should be used by anyone covered by, or paying for, the policy not just the named policyholder.

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In addition to my Private Health Insurance Tax Statement, can I have a Claims Benefit Statement for the 2010-2011 financial year?

Yes, you can request a Claims Benefit Statement to assist you in completing your tax return or calculating your eligibility for the Medicare Safety Net.

http://www.medicareaustralia.gov.au/public/services/msn/index.jsp

For more information on the Medicare Safety Net, click on the link above.

The statement will show you the fee charged and the benefit paid by GU Health for all claims during the financial year. The statement will be mailed to your postal address within 5 business days from your request. You may also have to contact Medicare to obtain the details of Medicare only claims.

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I have received a Lifetime Health Cover Statement that does not list my whole family, are they still covered?

Lifetime Health Cover is only applicable to persons over the age of 30 years. The statement is required to show who, over age 30, may or may not attract an age based percentage loading on their Health Cover premium. Therefore the statement only needs to list the member and partner, and not the dependant children.
GU Health will only be sending Lifetime Health Cover statements to members who have incurred a loading or used any of the 1094 absence days.

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Claiming the Federal Government 30% Rebate on private health insurance as a Tax Offset

How can I claim the Federal Government 30% Rebate?

(a) If you haven’t already claimed the rebate as a reduced premium, you may claim it as a Tax Offset when you lodge your 2010/2011 Tax Return. The amount you may be eligible to claim is shown in the box marked with 'G'.

(b) If you have claimed the rebate as a reduced premium throughout the financial year your Private Health Insurance Tax Statement will show that you are entitled to no further offset against your tax liability ('0' will show in the box marked 'G').

(c) Alternatively you can claim the rebate over the counter at your nearest Medicare outlet. All you need to do is take your Private Health Insurance Tax Statement with you. Please note that if you choose this alternative you will need to update your details when you lodge your tax return.

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Who can claim the Federal Government Rebate as a Tax Offset?

All Australians who are eligible for Medicare, and are members of registered health funds, are eligible for the rebate.

The rebate is available irrespective of family type or income, and is available on hospital cover, ancillary cover or combined cover.

You are entitled to the rebate if you make the member contribution payments. You are also eligible for the rebate if your employer is paying member contributions on your behalf.

NB: Inpatriate members

GST and the value of non-CHIP products aren’t included in the premium calculation on the tax statements as the Federal Government Rebate cannot be claimed on this portion of the premium. Therefore RHCA members won’t have the Medical Benefits product included in the calculation.

Non-RHCA members do not receive tax statements.

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What if two or more people pay the membership contributions?

If more than one person is paying the same membership - for example, payments are made from a joint bank account - then each individual will need to make a separate claim for their portion of the rebate.

The Private Health Insurance Tax Statement provides details about the policy only; GU Health does not identify which person has paid which portion of any member contributions.

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What if my employer pays for my health insurance?

Even if your employer pays for your premiums you are entitled to the Rebate. However, it is important to note that you may have already claimed the rebate via a reduced contribution amount.

Your Private Health Insurance Tax Statement will indicate the tax offset you may be entitled to.

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Can I claim the Government Rebate as a tax offset when I salary sacrifice my health insurance member contributions?

You are still paying the member contributions whether you are doing so before or after your tax is deducted. Therefore, if you are sacrificing the full amount, you will be able to claim the rebate. If you are sacrificing the Government Rebate reduced amount, you will not be able to claim a rebate. Your Private Health Insurance Tax Statement will indicate the tax offset you may be entitled to.

If more than one person is paying the same membership - for example, payments are made from a joint bank account - then each individual will need to make a separate claim for their portion of the rebate.

The Private Health Insurance Tax Statement provides details about the policy only; GU Health does not identify which person has paid which portion of any member contributions.

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Can I have a Private Health Insurance Tax Statement made out in my name?

The Private Health Insurance Tax Statement is sent to, and in the name of, the membership holder. The important thing to remember is that you are entitled to the Government Rebate if you make the premium payments.

My partner and I have separated and I have been paying the membership. How do I claim the rebate when my name does not appear on the Private Health Insurance Tax Statement?

The important thing to remember is that you are entitled to the Government Rebate if you make the membership contribution payments.

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I don't pay tax. Can I still claim the rebate?

Yes. If you don't pay tax you can still receive the rebate in several ways.

1. You can ask GU Health to reduce your contributions by completing the Federal Government Rebate application form and claiming the Federal Government Rebate up front as a reduced premium.

2. You can receive a direct payment from the Government through any Medicare Office. Just contact GU Health and we will issue you a receipt for the member contributions you have paid.

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Why doesn't my Private Health Insurance Tax Statement show an amount equal to my 12 monthly member contributions?

The figures on your Private Health Insurance Tax Statement are the member contributions paid and processed by GU Health between 1 July 2010 and 30 June 2011, this may include any additional member contributions paid in advance during that period. For example if John paid his health insurance contributions for two years' in August 2010, he is eligible to claim the Federal Government Rebate in the 2010/2011 financial year for the full two year payment.

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Why do the member contributions deducted from my pay differ from the amount shown on my Private Health Insurance Tax Statement?

The figures shown on your Private Health Insurance Tax Statement will take into account only those member contributions received and processed by GU Health between 1 July 2010 and 30 June 2011. In the case of Group members, contributions are projected to 30 June 2011.

Any recent member contributions deducted from your salary may not have been received and processed prior to 30 June 2011. We may have also processed and included your last deduction from the previous financial year, June 2010.

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If I am not claiming the rebate now, can I claim the rebate as a reduced contribution in future?

Yes - all you need to do is fill in the Federal Government Rebate application form and forward to GU Health.

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My payments are not up to date as I pay through a Group scheme, how will this affect my Private Health Insurance Tax Statement?

Even though some recent member contributions deducted from your salary may not have been received and processed prior to 30 June 2011; your contributions will be projected to this date.

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The Medicare Levy Surcharge

How can I be exempted from paying the additional 1% Medicare Levy Surcharge?

You need to contribute to a health fund product that offers 'private patient hospital cover' to be exempted from paying the additional 1% Medicare Levy Surcharge.

You should also note that the Medicare Levy Surcharge is applied on a pro-rata basis. If you were not covered by an appropriate hospital cover for 365 days, between 1 July 2010 and 30 June 2011, you will only pay the additional 1% for that period. The number of days covered by private hospital cover is shown on your Private Health Insurance Tax Statement.

Remember the Medicare Levy Surcharge only applies to those on higher incomes - single persons with a taxable income greater than $77,000, or families with a combined taxable income greater than $154,000 in 2010/11. The family income threshold increases by $1,500 for each dependant child after the first. Please note the income thresholds are indexed each year.

Important notes:

The Medicare Levy Surcharge is payable by high income earners during any period in which private hospital cover is not held, including periods when cover is suspended.

If you and/or your partner/spouse do not contribute to private hospital cover and your taxable income exceeds $80,000 (single) or $160,000 (couple) in 2011/12 you may not