End of financial year information

Since the 2019 Australian Government private health insurance reforms, statements are no longer sent to members. Instead, the same information is sent directly to the ATO to be pre-filled in your tax return when lodging online or through a registered tax agent.  

A copy of your Tax Statement is available in the member area.

If you have held health cover this financial year, you will have a private health insurance tax statement.  

The ATO requires health funds to produce Tax Statements for each adult on a health insurance policy. It is important to note that a dependant over 18 is not considered an adult. If your family situation has changed within the financial year, each adult that was listed on the membership during the year will be able to access an individual statement. 

No longer a GMHBA member? 

If you have terminated your GMHBA policy in this financial year, your private health insurance information is still sent to the ATO if you held hospital cover during the financial year and you paid a premium towards this.  

You don’t need to do anything, as we will send your private health insurance statement information directly to the ATO to be pre-filled. If you would still like a statement copy, you can find this in the online member area (you still have access to this). When logging into the member area, make sure you use the email address associated with your GMHBA account. If you need help, see: GMHBA Member Area – Get Help In Accessing Your Account 

Child or student dependants do not get their own statement because they cannot claim the rebate. As a dependent child, you may need to complete the private health insurance policy detail section of your tax return to ensure you are not charged the Medicare Levy Surcharge (if your income is above the threshold). To complete the private health insurance section of your tax return, you will need to obtain a statement from one of the adults covered on your policy.

Your Tax Statement will only show the payments we received during the last financial year. If you paid for all, or most, of your premiums prior to 30 June this amount will not show on this Tax Statement.

At the bottom of your Tax Statement there are three boxes:

• Total payments received for the policy
• Total Australian Government rebate received by the fund
• Total cost of policy.

For some members these figures may not add up. This could be because you have Lifetime Health Cover (LHC) loading on your policy and the rebate is not applied to the LHC loading portion of your premium. More information is available about LHC if you need it.

If your product includes access to the AIA Vitality program, the Australian Government Rebate does not apply to the entire premium. The rebate can only be applied to the portion of your insurance that is considered a compliant health insurance product as determined by the Private Health Insurance Act 2007.

There are two or more rows of information because of the way the private health insurance rebate is calculated, and this can change during the year. Each row will have a different benefit code.

On 1 April each year, generally, the rebate percentage is adjusted by the Australian Government. One row of information on your statement will be for the premiums paid and rebate received before 1 April, and the other row will be for premiums paid and rebate received from 1 April.

Please note that the rebate percentage did not change in the 2023-24 financial year.

There may also be two or more rows on your Tax Statement if the oldest person on the policy turned 65 or 70 during the financial year, and this has impacted your rebate entitlement.

Find out more about the Australian Government Rebate on private health insurance.

Your taxable income is used to determine your entitlement for the Australian Government Rebate on private health insurance and to calculate the Medicare Levy Surcharge (if this applies to you).

The income threshold tiers are set by the Australian Government and were adjusted on 1 July 2024.

Rebate percentages – usually adjusted on 1 April each year – remained the same in the 2023-24 financial year.

Find out more about the Australian Government Rebate on private health insurance and the Medicare Levy Surcharge.

It's always a good idea to keep us up to date when your income changes to ensure you're claiming the correct rebate tier. You can also contact us to check which tier you currently have registered – this is what will have been reported to the ATO for FY23-24. You can also nominate a new tier, if needed.

Please note that any changes you make to your tier will be reflected from the date the new tier is applied onward.

Find out more about income thresholds and the Australian Government Rebate on private health insurance.

If you’ve registered a certain tier with GMHBA to claim the rebate as a reduction on your premium, and your income has since changed, you may fall into a new tier.

We send your nominated rebate details to the ATO each year along with your private health insurance tax statement information.

When you lodge your tax return for the financial year:

• you may have to pay an additional amount if you have selected a tier that is lower than the one you should be in
• you may receive an amount back as a tax offset if you have selected a higher tier than your actual

Remember that any changes you make to your tier are only reflected from the date the new tier is applied, and not retrospectively.

The LHC loading is an Australian Government initiative to encourage people to take out hospital cover earlier in life. For every year that you are aged over 30 and do not have eligible hospital cover, you incur a 2% loading on top of your base premium.

If you pay a loading, this information would have been communicated directly to you in your premium review notification, which is available in your member area. You won't receive a separate statement. 

More information is available about LHC if you need it.

Your CAE is based on the age you were on 1 July prior to you first taking out hospital cover. This is used to calculate your LHC loading.

This is any time that you have not held hospital cover within the financial year. This could be due to joining part way through the year, change of cover, suspending your cover, or the cancellation of your membership.

Your Tax Statement has been amended as one of the following changes have been made to your membership since your previous Tax Statement was issued in the member area.

Refunds – If a refund was made on or after 1 July for premiums received on or prior to 30 June.

Dishonour of premiums – If a dishonour of premium receipt was processed on or after 1 July, for a payment that was received initially on or prior to 30 June.

Disbursing a receipt – If a receipt received in the previous financial year is reversed and disbursed (transferred) to another membership.

Backdated membership cancellation – If a cancellation of a policy was processed on or after 1 July, where the cancellation effective date was on or prior to 30 June.

Backdated person changes – If a person termination or addition was processed on or after 1 July, where the effective date was on or prior to 30 June.

Backdated plan change where hospital cover was dropped or added – If a plan change involving removal of hospital cover was made on or after 1 July, where the effective date of the change is on or prior to 30 June.

For more information regarding your Tax Statement, we recommend that you:

• contact your tax professional
• call the ATO on 13 28 61 or visit the ATO website. 

If you need help understanding your Private Health Insurance Tax Statement, please review this sample.

Your Private Health Insurance Tax Statement shows: 

• Premiums you have paid to GMHBA during the financial year that are eligible for the Australian Government Rebate. 
• Amount of rebate that you received during the financial year 
• Number of days you held an approved level of Private Hospital cover during the financial year (Label A on your statement). This will help you see if you have to pay an extra Medicare Levy Surcharge. 
• If you are the policyholder, your statement will include the details of any other adults who were on your policy at any point during the financial year (called ‘other adult beneficiaries’). If you were covered on another policy (a partner, for example), then their details will also be on your statement. 

For more information on how to read your private health insurance statement, see this ATO guide: Your private health insurance statement | Australian Taxation Office (ato.gov.au)