Great news for private health insurance customers! Starting July 1, changes to the rebate thresholds could save policyholders up to $770 a year.
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Existing policyholders can claim the rebate when filing their tax return or upfront, resulting in reduced premiums from insurers.
Single individuals earning up to $93,000 a year currently qualify for the highest rebate, with the threshold increasing to $97,000 from July 1.
For families, the maximum rebate is for those earning less than $186,000, but this will rise to $194,000 come July 1.
While rebates are still possible for earners above these limits, they are no longer available once an individual makes over $151,000 or a family earns $302,000.