Health Fund Warns Planned Rebate Cut Could Affect 271,000 Members

HBF CEO Lachlan Henderson said removing the higher rebate could cost an HBF-member couple in their 70s an additional $493 to $579 a year.

Health Fund Warns Planned Rebate Cut Could Affect 271,000 Members

TL;DR

  • Health funds have informed a Senate inquiry that a planned rebate cut may significantly increase premiums for older Australians.
  • Insurers are required to set next year's prices before a parliamentary vote on the rebate change.
  • The bill aims to remove the higher rebate for individuals aged 65 and over starting April 1, 2027, with the rebate then based solely on income.
  • The government projects savings of about $3 billion over four years, intended for aged care.
  • HBF CEO Lachlan Henderson stated that removing the higher rebate could cost an HBF-member couple in their 70s an additional $493 to $579 annually.

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