Family health insurance - do you earn more than $140,000?
We’re a family and we earn more than $140,000 a year between us
If you’re a family with a combined annual taxable income of more than $140,000* and don’t have private health insurance with hospital cover, you may have to pay the government’s Medicare Levy Surcharge - an additional 1% tax on top of the 1.5% Medicare Levy paid by all taxpayers.
If you do have private health insurance with hospital cover, you can enjoy tax benefits because you won't have to pay the Medicare Levy Surcharge.
So if you have a combined annual taxable income of more than $140,000* you can either:
- Pay the Medicare Levy Surcharge - an additional 1% tax each year
OR - Join Mutual Community family health insurance with hospital cover, which could actually cost you less than the Medicare Levy Surcharge
Of course, by taking out private health insurance with us, you’ll enjoy more than tax benefits - our range of family health cover options is designed to suit your needs and offers quality private health insurance, which comes with the added benefit of knowing that you and your family have private health cover you can count on.
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Check out our Medicare Levy Surcharge calculator to find out how much you can save at tax time if you take out hospital cover |
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Find out more about the Medicare Levy Surcharge |
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I know we are impacted - please show me all your family health covers |
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What have others like us chosen? |
* This is the combined annual taxable income limit for a family with one child. Add $1,500 to this amount for each additional child.
