Incentives & Penalties

According to recent data from the ATO, record numbers of Australians are now paying the Medicare Levy Surcharge at tax time. If that’s you – or you think you might be at risk of being charged it next year – here’s what you need to know. Do I have to pay the Medicare Levy Surcharge? First things...

It’s one of the most common mistakes we hear about at healthslips.com.au – people taking out the cheapest health insurance to avoid the Medicare Levy Surcharge (MLS), but not checking what the policy includes. As a result, they end up with a ‘junk policy’ – one that provides so little cover it’s ineffective. The good...

Lifetime Health Cover Loading (LHCL) is one of the most misunderstood areas of health insurance. It’s a penalty the government created to encourage Aussies to take out Hospital Cover before the age of 31. After that age, if you’re starting Hospital Cover you’ll pay an extra 2% on Hospital Cover for every year over 30...

Being a single parent can mean needing to keep an extra tight grip on your finances. Regardless of whether or not you have a co-parent contributing to household costs, health insurance will be one of your larger expenses as a single parent. For that reason, you’ll want to get the best health insurance for single...

If there’s one thing you can count on as a parent, it’s that accidents and injuries are likely to happen. Whether it’s a sprain on the soccer field or grazes from falling off a bike, kids’ bodies often go through a bit of rough and tumble. While minor injuries aren’t a big deal, if you or...

If you’re taking out a health insurance policy for yourself only, or reviewing your existing policy because your health needs and budget may have changed, here’s what you need to consider to find the best cover for singles in Australia. Do I need health insurance for myself? The main benefit of private health insurance for one adult...

If you’re in a relationship, you might be wondering whether you can get more value from your health insurance by combining cover with your partner. Or perhaps your children have left home and moved onto their own health insurance policies, so you’re considering changing from a Family to a Couples policy. Either way, you’ll want...

Whether it’s dental visits or private hospital treatment for grommets, there are lots of good reasons to have private health insurance for your kids. But with living costs rising, you might be wondering whether you can get away with insuring your children only, and going without health cover for yourself and your partner. So, does...