Hospital cover might help you minimise tax

How can hospital cover help minimise tax?

If your taxable income is over $90,000 as a single or over $180,000 as a couple or family, you will have to pay the Medicare Levy Surcharge (MLS) if you don’t have eligible private hospital cover. If you’re subject to the MLS based on your taxable income, you can avoid it by joining one of Frank’s hospital covers.

* The price shown is per week and applies to a {LIFESTAGE} living in VIC. It excludes LHC loading and includes a Base Tier Government Rebate

Is it cheaper to have hospital cover than pay the MLS?

It can be. For example, you’re a single person under the age of 30 and have a taxable income of $90,000 per year. Without eligible hospital cover, your MLS payment would be $900. Taking out Frank’s Basic Hospital cover would cost you less than the MLS.

Check out Frank’s cheap hospital covers.

Get 6 weeks free* plus skip 2 & 6 month waits on extras when joining on combined cover by July 14

*For new members joining direct via web or call center on combined hospital and extras cover. 12 month waits, annual and sub limits apply. Extras claims made with a previous fund are included in your annual limit. Must not have been a member within last 12 months. Must pay first month to receive six weeks free. Not available on Frank OVHC or in conjunction with any other offer. Ends 14 July 2022