What’s changed with the Private Health Insurance rebate?

The Private Health Insurance (PHI) rebate calculation was changed on 1 April 2014.  Rebates are now adjusted annually and applied to premiums paid on or after 1 April, 2014.

This means there will be two periods in the 2013/14 financial year where the rebate percentage will be different – 1 July to 31 March and 1 April to 30 June.

The PHI statement you receive should include two rows of information about premiums and rebates.

If you want to check that the rebate being applied by your insurer is correction, use the ATO’s Income Tests Calculator.