At the end of each financial year private health insurers, including Police Health, issue Private Health Insurance (Tax) Statements to all members (Contributors and partners/spouses) who held cover or paid contributions during that financial year. This statement contains important information to help you complete your tax return.
To help you understand your tax statement please read the below FAQ and see our example Private Health Insurance (Tax) Statement.
How to read your Private Health Insurance (Tax) Statement
Private Health Insurance (Tax) Statement.
Frequently Asked Questions (FAQ)
Q. When will I get my Private Health Insurance Tax Statement?
Statements are mailed out to members during the first two weeks of July. Members that have registered an email address with Police Health will receive their statement by email.
Q. What do I have to do to get a Private Health Insurance Tax Statement?
You do not need to do anything. If you are an existing member, or have held private health insurance with Police Health during the last financial year, we will automatically issue you a Tax Statement.
Q. Why do I need my Private Health Insurance Tax Statement?
- You may need it to complete your Tax Return.
- Your Tax Statement will include details of the number of days you have been covered by an appropriate level of Private Hospital Cover during the last financial year with Police Health. The ATO uses this information when assessing if you will be subject to the Medicare Levy Surcharge.
- Your Tax statement will also outline your allocation (if any) of the Australian Government Rebate on private health insurance, if you have received this as a reduction in your premiums, and will be used to assess any liability or offset.
- If you have any questions about the Australian Government Rebate on private health insurance, please call the Australian Tax Office helpline on 132 861.
Q. Why do I have two lines of information on my Private Health Insurance Tax Statement?
The Australian Government determines the way the Rebate is calculated and applied to premiums. Rebate percentages are adjusted on 1 April each year. If you paid premiums for your policy before and on or after 1 April, your tax statement will contain at least two lines of information. Where more than one line of information has been provided, the information from each line must be entered separately at the corresponding labels on the income tax return at Private Health insurance policy details.
Q. What is the Medicare Levy Surcharge (MLS)?
The MLS is a government incentive to encourage individuals to take out private hospital cover and is an additional payment incurred on top of the Medicare Levy that most Australians have to pay. You will only be impacted by the MLS if your income (as assessed by the ATO for this purpose) is over $90,000 for singles or $180,000 for families or couples and you don’t have an appropriate level of private hospital cover. The MLS ranges between 1 to 1.5% of your income, on top of the 2% Medicare Levy (depending on your income). For more information see our MLS page.
Q. What if I pay a Lifetime Health Cover Loading (LHC)?
This will be shown on the LHC Statement, that you will receive from Police Health in the mail. Members that have registered an email address with Police Health will receive their statement by email. For more information see our LHC page.
Q. Will my child covered on my policy receive a Private Health Insurance (Tax) Statement?
Dependent children do not receive their own Private Health Insurance (Tax) Statement because they cannot claim the Rebate and are not subject to the income test for private health insurance purposes.
However if your child is completing a tax return they may need to complete the private health insurance policy detail section of their return, so the ATO can verify their private health insurance coverage and ensure that they are not charged the Medicare Levy Surcharge (if their income is above the threshold).
To complete the Private Health Insurance Section of their tax return they will need to obtain a statement from one of the adults covered on the policy and follow the below steps.
- Using the Private Health Insurance Statement of an adult on the policy (using the Health Find ID –SPE and the Membership Number), complete your individual tax return as per the ATO instructions.
- Type or write Tax claim code F.
Q. Where can I find out more?
If you want further information, you can call Police Health on 1800 603 603 however we are unable to provide specific tax advice. Additionally you can contact the Australian Tax Office on 132 861, visit their website at ato.gov.au, or speak to your tax advisor.