Guide to Switching Health Funds
At Navy Health, we are dedicated to protecting those who protect us, their families, and everyone who plays a part in making that happen.
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Health Insurance
The Australian Government has put in place a number of initiatives to incentivize you to sign up to Health Insurance. These initiatives help ease pressure on the public hospital system, make private health insurance more affordable and apply to hospital and extras cover.
The Federal Government Rebate
The Federal Government Rebate is a tax rebate that is applied to everyone who has appropriate health insurance cover for the tax year. Your rebate amount is calculated on the basis shown in the table below.
Calculating your rebate
Lifetime Health Cover Loading (LHC)
The Lifetime Health Cover Loading surcharge activates on 1 July following your 31st birthday and is applied to your premiums. This cost is mandated by the government and increases by 2% with every year that you do not take out a health insurance policy with hospital cover after age 30.
The surcharge is not removed until you have maintained cover for 10 years.
Please note the following in relation to the LHC:
If you:
Please note: your “1094 allowed days without cover” countdown begins immediately after separation unless you have health insurance.
*For families, the income thresholds increase by $1,500 for each MLS dependent child after the first.
Please note the threshold information above is a general guide only and may vary according to your particular circumstances.
The Medicare Levy Surcharge (MLS)
All Australian taxpayers pay a Medicare Levy of 2% of their taxable income, this levy helps pay for Medicare. Click here to find out more about the Medicare levy.
The MLS is an additional tax (on top of the standard 2% Medicare Levy) which is applied to everyone who doesn’t have private health insurance. The level of MLS you are charged is calculated on the below basis.
Getting to know how the tax system relates to health insurance can be difficult. If you have questions about how these tax incentives relate to your cover speak to one of our Member Services team on 1300 306 289.
At Navy Health, we are dedicated to protecting those who protect us, their families, and everyone who plays a part in making that happen.
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© Navy Health Ltd All Rights Reserved 2023