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Medicare Levy Surcharge definition

Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

Examples of Medicare Levy Surcharge in a sentence

  • For those taxpayers without private hospital cover, with adjusted taxable incomes above $90,000 for individuals and $180,000 for couples or families, the Medicare Levy Surcharge will apply.

  • An additional Medicare Levy Surcharge may apply to high income earners during any period of policy suspension.

  • Got a question?Visit our handy online knowledge base for 24/7 access to a wealth of information.Visit hif.com.au/help to get started.Call us on 1300 13 40 60Is the Federal Government Rebate on private health insurance means tested?Yes, the Federal Government Rebate on private health insurance is means tested, as is the Medicare Levy Surcharge (MLS).There are four taxable annual household income tiers for singles, couples and families.

  • In this paper, we provide new evidence on the effect of one of these policies, the Medicare Levy Surcharge.

  • The Medicare Levy SurchargeThe Medicare Levy Surcharge (MLS) is a Federal Government initiative, designed to encourage individuals to take out private hospitalcover and, where possible, use the private hospital system to reduce the demand on the public system.The MLS is levied on Australian taxpayers who do not have private hospital cover and who earn above a certain income.

  • Tax warning The Medicare Levy Surcharge is payable by high income earners during any period of suspended hospital cover.

  • Please go to our website for more information about the Medicare Levy Surcharge.

  • The amount reported is used in the calculation of HELP, child Support, Medicare Levy Surcharge and some other government allowances.

  • Accordingly, the AMA has called on the expert committee considering out-of-pocket costs to broaden its review beyond doctors’ fees to look at the real determinants of these costs.The AMA has repeatedly called for the banning of so-called junk policies that do not clearly show consumers the limited level of cover offered and which are simply designed to avoid the Medicare Levy Surcharge.

  • Higher income earners pay an additional Medicare Levy Surcharge if they don’t have PHI cover.

Related to Medicare Levy Surcharge

  • Medicare means the “Health Insurance for the Aged Act,” Title XVIII of the Social Security Amendments of 1965, as then constituted or later amended.

  • Medicaid means that government-sponsored entitlement program under Title XIX, P.L. 89-97 of the Social Security Act, which provides federal grants to states for medical assistance based on specific eligibility criteria, as set forth on Section 1396, et seq. of Title 42 of the United States Code.

  • Routine patient care costs means Covered Medical Expenses which are typically provided absent a clinical trial and not otherwise excluded under the Policy. Routine patient care costs do not include:

  • child care element of working tax credit means the element of working tax credit prescribed under section 12 of the Tax Credits Act 2002 (child care element).

  • Medicare benefit means the Medicare benefit payable within the meaning of Part II of the Health Insurance Act 1973 with respect to a professional service.

  • Health care worker means a person other than a health care professional who provides medical, dental, or other health-related care or treatment under the direction of a health care professional with the authority to direct that individual's activities, including medical technicians, medical assistants, dental assistants, orderlies, aides, and individuals acting in similar capacities.

  • Health care facility or "facility" means hospices licensed

  • Advance health care directive means a power of attorney for health care or a record signed or authorized by a prospective donor containing the prospective donor’s direction concerning a health care decision for the prospective donor.

  • Child care facility or “facility” means a child care center, a preschool, or a registered child development home.

  • Enrollee point-of-service cost-sharing or "cost-sharing" means amounts paid to health carriers directly providing services, health care providers, or health care facilities by enrollees and may include copayments, coinsurance, or deductibles.