Older Australians will be entitled to a reduced Health Insurance Premium from 1st April 2005.
An increase in the Private Health Insurance Rebate from 30% to 35% for policies covering at least one person aged 65 to 69 years and from 30% to 40% for policies covering at least one person aged 70 or older now are now effective.
These measures were announced last August and were given Royal Assent in February and take effect on 1st April 2005. The health fund is able to claim a higher part of the premium from the government and reduce the cost of the customer.
There is a fear that some Health Insurance Funds are unable to pass this savings on to policy holders, because they don?t know how to identify the relevant customers.
It is highly recommended that eligible persons contact their insurer to take advantage of this savings without delay. You should not rely upon your Health Insurance provider implementing this without your prompting.