Does private health insurance save you money?
Depending on your income, if you don’t have appropriate hospital coverage, you may have to pay the Medicare Levy Surcharge, i.e. more tax.
I knew this. But today I came across an infographic that described very well how much you’d be taxed for not having necessary hospital coverage. Also, details about the federal government rebate and how having private insurance could save you money.
Sharing the infographic with you guys. Hope it helps!