How to read your Tax Statement

Every financial year all health insurers are required to issue Private Health Insurance Tax Statements to their Members. The Tax Statement is used to complete your Tax Return by detailing any rebates you received during the financial year. The below key explains the main components of the Tax Statement in more detail. Your Tax Statement is available on Online Member Services.

Tax Statement key

A – Number of days with appropriate hospital cover
The number of days in the 2017/18 financial year that you had hospital cover.

B – Health Insurer IDA three letter identifier unique to each fund
This is NHB for Navy Health members.

C – Membership Number
Your membership number with your Private Health insurer.

J – Your premiums eligible for Australian Government Rebate
Includes each adult’s share of premiums in this financial year that are eligible for the rebate. If there is a Lifetime Health Cover loading applied to the policy, the amount of loading paid is not included in this amount. If there is more than one adult on the policy, the amount will be split over the two statements.

K – Your Australian Government Rebate received
Includes each adult’s share of the rebate paid by Medicare directly to Navy Health in the current financial year. If there is more than one adult on the policy, the amount will be split over the two statements.

L – Benefit code
Indicates which (maximum) age based rebate percentage is applicable and when the premium was paid. Due to rebate changes made on 1 April 2016, any premiums received on or after this date will have a different benefit code to premiums made prior to this date. If anyone on the membership has turned 65 or 70 years of age during the financial year, there will be an additional code to reflect the change in applicable rebate.

Other adult beneficiaries for the policy
Indicates the name of any other adult covered by the policy when the relevant premiums were received.