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Health Funds

The Medicare Levy Surcharge (MLS)

This surcharge is an additional tax (on top of the 1.5% Medicare Levy that most tax payers are required to pay) that’s levied on to Australian taxpayers who earn above the MLS thresholds and don’t have private hospital cover.

If you’re an individual earning $90,000 per year, for example and you don’t have hospital cover, the MLS means that you’ll have to pay an extra $900 in tax (1% of your annual income). But with hospital cover available for less than $900, you could walk away with the benefits offered by a hospital only or a hospital and extras policy, avoid paying the tax and still have money left over.

The MLS will increase to 1.25% if you earn over $105,000 ($210,000 for couples, families and single parents) and 1.5% if you earn over $140,000 ($280,000 for couples, families and single parents).

Health funds in Australia are very competitive so you should take the time to compare your policy to some health funds you might not have heard of in Australia. It could save you thousands of dollars!!!

List of health funds

Following is a list of health funds registered under the Private Health Insurance Act 2007. Provided by privatehealth.gov.au

Title ATO ID Type States
ACA Health Benefits Fund ACA Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
ahm Health Insurance AHM Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Australian Unity Health Limited AUF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Bupa Australia Pty Ltd BUP Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
CBHS Health Fund Limited CBH Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
CDH Benefits Fund CDH Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Central West Health Cover CWH Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
CUA Health Limited CPS Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Defence Health Limited AHB Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Doctors’ Health Fund AMA Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
GMF Health GMF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
GMHBA Limited GMH Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Grand United Corporate Health FAI Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
HBF Health Limited HBF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
HCF HCF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Health Care Insurance Limited HCI Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Health Insurance Fund of Australia Limited HIF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Health Partners SPS Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
health.com.au HEA Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Latrobe Health Services LHS Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Medibank Private Limited MBP Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Mildura District Hospital Fund Ltd MDH Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
National Health Benefits Australia Pty Ltd (onemedifund) OMF Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Navy Health Ltd NHB Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
NIB Health Funds Ltd. NIB Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Peoplecare Health Insurance LHM Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Phoenix Health Fund Limited PWA Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Police Health SPE Restricted QLD, SA, TAS, WA, NT.
Queensland Country Health Fund Ltd QCH Open QLD.
Railway and Transport Health Fund Limited RTE Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Reserve Bank Health Society Ltd RBH Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
St.Lukes Health SLM Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Teachers Health Fund NTF Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Transport Health Pty Ltd TFS Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
TUH QTU Restricted ACT, NSW, QLD, SA, TAS, VIC, WA, NT.
Westfund Limited WFD Open ACT, NSW, QLD, SA, TAS, VIC, WA, NT.

 

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