If eligible, the Rebate is a contribution the Government makes towards the cost of your private health insurance to make it more affordable and accessible.
The Government adjusts the Rebate on 1 April each year based on a calculation referred to as the ‘Rebate Adjustment Factor’ (RAF) which incorporates any changes to the industry weighted average increase in premiums and the Consumer Price Index. The RAF is set out in the Private Health Insurance (Incentives) Rules 2012 (No.2).
This year the Rebate Adjustment Factor is 0.9680, compared to 0.963 in 2016. Other than for the income tier that attracts no rebate, this means that the available percentage rebate has reduced.
Therefore if you’re eligible to claim the Rebate, be aware that this change will affect how much you pay for private health insurance. To find out how the change in Rebate will affect you personally, refer to the personalised premium increase information sent to you by Police Health, or visit health.gov.au to view the updated Rebate tiers.