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Schedule 1—Increasing maximum excess levels

Schedule 1 Increasing maximum excess levels

   

Private Health Insurance Act 2007

1  At the end of Chapter 2

Add:

Part 2-4 Excess levels for medicare levy and medicare levy surcharge purposes

Division 42 Introduction

42-1   What this Part is about

This Part sets out the excess levels for complying health insurance products that relate to whether a person is liable to pay medicare levy or medicare levy surcharge.

Division 45 Excess levels for medicare levy and medicare levy surcharge purposes

45-1   Excess level amounts

                   For the purposes of the A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 and the Medicare Levy Act 1986 , any excess payable in respect of benefits under a * complying health insurance policy that provides * hospital cover must not be more than:

                     (a)  $750 in any 12 month period, in relation to a policy under which only one person is insured; and

                     (b)  $1,500 in any 12 month period, in relation to any other policy.

2  Application

The amendment made by item 1 of this Schedule applies in relation to the 2018-19 income year and later income years.