How much extra tax could you pay without hospital cover?
Nice one! Looks like you might not have to pay the Medicare Levy Surcharge.
This is a guide only. It assumes you have no MLS dependants. You should speak to a financial advisor who will be able to take into account your income and personal situation, including any changes that occur during a tax year.
Why not invest that money in your health
Medibank Basic Plus Healthy Start
This hospital cover includes a range of common services and procedures, such as:
- Accident Cover Boost+
- Unlimited Emergency Ambulance^
- Joint reconstructions
- Dental surgery
- And more...
Medibank Bronze Plus Value
Wallet-friendly hospital cover that can help you feel protected and support your active lifestyle.
- Gastrointestinal endoscopy
- Chemotherapy, radiotherapy and immunotherapy for cancer
- Gynaecology
- Bone, joint and muscle
- And more...
Medibank Bronze Plus Value
Invest a little more to get more cover
Wallet-friendly hospital cover that can help you feel protected and support your active lifestyle.
- Gastrointestinal endoscopy
- Chemotherapy, radiotherapy and immunotherapy for cancer
- Gynaecology
- Bone, joint and muscle
- And more...
Medibank Silver Plus Support
Providing cover towards a range of services including heart & vascular, rehabilitation and more.
- Broader range of services
- Heart and vascular system
- Plastic and reconstructive surgery (medically necessary)
- And more...
Waiting period and annual limits may apply.
+ For Accidents that occur in Australia after your cover starts. Must seek medical treatment within 7 days, and receive hospital treatment within 12 months of the Accident occurring. Excludes Private Emergency Department Benefit, hospital bonus, claims covered by third parties and our Private Room Promise. Out-of-pocket costs may apply.
^ Waiting period applies. For ambulance attendance or transportation to a hospital where immediate medical attention is required and your condition is such that you couldn't be transported any other way. TAS and QLD have State schemes that provide ambulance services for residents of those States.
What is the Medicare Levy?
Currently, everyone chips into the Australian public healthcare system, Medicare. Most taxpayers contribute 2% of their taxable income, unless they earn under a certain amount, in which case they don’t need to pay anything at all. This is referred to as the Medicare Levy.
In addition to the Medicare Levy, some taxpayers also need to pay a Medicare Levy Surcharge (MLS), a government scheme designed to help take the burden off the public system.
When does the Medicare Levy Surcharge apply?
The Medicare Levy Surcharge applies if your annual income is over $97,000 as a single (or $194,000 as a single parent, couple or family) and you or any of your dependants# don't hold an appropriate level of hospital cover. It starts at 1% and increases (up to 1.5%) depending on your annual income.# The family income threshold for single parents, couples and families is increased by $1,500 for each MLS dependant child after the first child.
However, if you and all your dependants# take out Medibank hospital cover and hold it for the full tax year, you may not have to pay the Medicare Levy Surcharge. Plus, you can enjoy knowing that your health is in good hands.
Hospital only offer - Want 6 weeks free plus up to $400 in gift cards?
Join and maintain eligible Bronze hospital cover or above and you could get 6 weeks free plus 40,000 Live Better points (couples and families) or 20,000 Live Better points (singles and single parents) to redeem on rewards like gift cards. Use promo code: HOSP6WEEKS. New members only.⚭
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Still not convinced?
Unlimited Emergency Ambulance
No matter which hospital policy you choose, you’ll have the peace of mind that comes from knowing that your cover includes unlimited emergency ambulance.1
Accident Cover Boost
With our Accident Cover Boost, you could get Gold level Hospital benefits if you have an Accident and hold eligible Hospital cover, regardless of your level of cover.2
24/7 Medibank Health Support
Health concerns keeping you up at night? Members with health insurance can speak to a registered nurse or mental health professional at no extra cost.3 Chat over the phone or online any time of the day or night.
One of the largest health provider networks in Australia
We’ll help you make the most of your cover, with access to more than 470 Members’ Choice hospitals and more than 17,000 Members’ Choice extras provider locations.
Enquire today, the numbers add up
We can recommend more covers based on what you selected.
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Things you should know
# 'Income’ and 'dependants' for Medicare Levy Surcharge purposes only. Learn more.
1 Waiting period applies. For ambulance attendance or transportation to a hospital where immediate medical attention is required and your condition is such that you couldn't be transported any other way. TAS and QLD have State schemes that provide ambulance services for residents of those States.
2 For Accidents that occur in Australia after your cover starts. Must seek medical treatment within 7 days, and receive hospital treatment within 12 months of the Accident occurring. Excludes Private Emergency Department Benefit, hospital bonus, claims covered by third parties and our Private Room Promise. Out-of-pocket costs may apply.
3 Some referred services may involve out of pocket costs and waiting periods may apply.