Business Services Industry
Private health legislation looks improved.
Australasian Business Intelligence, June, 2007
Byline: Melissa Wilkinson
Jun 13, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The Australian Government has slightly altered its laws designed to promote the uptake of private health insurance. Since 2000, those aged 30 and older must have private hospital cover or pay an increased Medicare levy. There is a loading on premiums of 2 for each year those taking out new policies are aged above 30, up to a total of 70. Under new amendments in 2007, the penalty does no longer apply to someone who has been paying the loading for a stretch of 10 years and then becomes a member. Policies can also be allowed to lapse for up to 1094 days, and exemptions apply for those living temporarily overseas. The Australian Taxation Office's data show the loading...
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