Health Insurance and Credit Cards

[Abdul..]

What if If you are single and earn less than $84,000 and don't have any cover? Will you then need to pay a levy?

You pay the medicare levy but not the surcharge. So you pay 1.5% but it has increased to 2% in the 2013/14 financial year to cover the Disability Care Scheme.

 

[Natboy]

You pay the medicare levy but not the surcharge. So you pay 1.5% but it has increased to 2% in the 2013/14 financial year to cover the Disability Care Scheme.

So how much is the surcharge?

 

[Abdul..]

It is tiered. Starts at 1% (upto $102k singles / $204k families)
1.25% (upto $136k singles / $272k families)
1.50% for anything greater

These are the rates for the new financial year 2013/14.

 

[Natboy]

It is tiered. Starts at 1% (upto $102k singles / $204k families)
1.25% (upto $136k singles / $272k families)
1.50% for anything greater

These are the rates for the new financial year 2013/14.

Wow. Thanks mate. I'll just keep my cover while the government has a gun to my head

 

[MattyB]

Depends on your accountant, you could potential get away with the whole year about $900 I think but someone please correct me if I'm wrong.

They actually work on a tax year, so if you are 30 years old currently but were 29 in the last financial year, then you won't pay any extra.

I got mine when i was 32, but on the form they had me as 31 (As they go on a financial Year)

I would go for Hospital and Extras.
For Credit Cards, if it's every now and then i'd go for a Vertigo from St george, it's what i have.
http://www.stgeorge.com.au/personal/credit-cards/our-credit-cards/vertigo-mastercard

Interest Rate is good