An event that we have become accustomed to every 1 April, is that the amount of the Private Health Insurance (‘PHI’) rebate decreases.
The Australian Government rebate on PHI is annually indexed on 1 April by a Rebate Adjustment Factor (‘RAF’) representing the difference between the Consumer Price Index and the industry weighted average increase in premiums.
The RAF for 2022 has been calculated as 1.
This means there will be no changes to the PHI rebate on 1 April 2022.
Editor: With inflation at levels Australians have been unaccustomed to over the last 20 years, at least there is one very small piece of good news.
If you’re not sure if you’re covered and are worried about your financial situation, call my office on 3399 8844 and we will give you a FREE Financial Health Check. You can also visit our website at www.straighttalkat.com.au and complete your details on our Home page to request a free appointment.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.