Private Health Insurance Offset
The Private Health Insurance Offset, also sometimes referred to as the Private Health Insurance Rebate, allows you a tax offset for a percentage of the premium you paid to a registered health insurer for a complying private health insurance policy. What percentage exactly you can claim as an offset depends on the age of the oldest person the policy covers.
You can claim the Private Health Insurance Offset as a
- reduction in your private health insurance premium through your tax return
- cash or cheque rebate from Medicare
- refundable tax offset at the end of the income year through your tax return, or
- a combination of the preceding options, one for a different period of the year