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Private Health Insurance tax statements

At the end of each financial year health insurers including Bupa issue statements for memberships where a payment was made or a person held cover at some point during the last financial year. These statements are to help you claim any entitlements as part of your annual tax return, such as the Australian Government Rebate on private health insurance.

1. What information will you send me at tax time?

Depending on the type of cover you held during the financial year, you’ll receive one or a combination of the following:

Private health insurance tax statement

Where you have held the private health cover and/or paid a premium in the preceding financial year, every adult on your membership (except dependent children) will be issued a private health insurance statement. The exception is if you hold overseas visitor cover: in that case, you’ll only get a tax statement if you have extras cover or Reciprocal Health Cover.

Your statement shows:

  • health insurance premiums received and processed by Bupa between 1 July and 30 June of the previous financial year;
  • your share (if any) of the Australian Government Rebate on private health insurance; if you’ve received this as a reduction in premiums;
  • any other adult beneficiaries who were on the policy at the time payments were made during the previous financial year; and
  • the maximum number of days your private health insurance provided an appropriate level of private hospital cover (in order to reduce the Medicare Levy Surcharge).

Summary of Cover

If you held private hospital cover (excluding overseas visitor cover) during the financial year we’ll also send you , a Summary of Cover.

The Summary of Cover includes details of any Lifetime Health Cover (LHC) premium loading and/or days without hospital cover for LHC purposes.

2. What’s new about my tax statement?

The way the rebate is calculated has changed; the rebate is now indexed on 1 April each year. This means that if you paid premiums for your policy before, on or after 1 April 2014 you may see more than one line of information on your tax statement.

  • Other people may be listed on your statement ( including people who have passed away or who are no longer Bupa members)
    All adults on your membership at the time of a payment are now eligible for a portion of the rebate. We will send a tax statement to each adult on your membership (except dependant children) so that they can claim their rebate.
  • The rebate amount you can claim is no longer included in your statement
    Your statement will not show you what level of rebate you’re entitled to. This is because we don’t collect information about your income. The Australian Taxation Office (ATO) or your tax agent should be able to tell you how much you can claim and whether or not you have a tax liability.

3. I don’t understand some of the terms in my tax statement. What do they mean?

To help you out, we’ve prepared some tips for you on ‘How to read (PDF, 67kb)’. Here’s some more detail about a couple of these terms:

  • Other adult beneficiaries
    Refers to other adults insured under your policy on the day the premium or amount was received by Bupa; or
    • the parents of the child/ren insured under the policy provided the parents are married at the end of the relevant financial year; otherwise
    • the name of the responsible adult in the case of a child only policy.
  • Your premiums eligible for Australian Government Rebate
    This is the cost of your policy that Bupa has received and doesn’t include any rebates or discounts that you may be entitled to. If there is more than one adult beneficiary on your policy this will be split between each of them.

4. Why does my tax statement show $0?

A zero dollar amount in your statement means you didn’t make a payment in the that financial year. Your statement will just show the number of days you were covered for.

5. When will I receive my tax statement?

Your tax statement will be sent to you by the15 July.

If you’ve chosen to access your tax statements online we’ll email you when they are ready. You can view them by logging in to myBupa and clicking the ‘Communications’ tab at the top of the page. If you haven’t yet registered for myBupa, you’ll need to do this before you can access your statements.

Even if you received your statements in the mail you can still view them in myBupa, including previous years’ tax statements.

6. Where can I get a copy of my tax statement?

We’ll store your tax statements for up to seven years in myBupa. Simply log on (and register if you haven’t already) to myBupa. You can switch to eStatements (to get your tax statement online) by changing your membership communication preference to ‘electronic’. You can do this under the ‘how we contact you’ section in myBupa.

7. What is an adjusted tax statement and when will I receive one?

In addition to your annual tax statement you may also receive an adjusted tax statement during the year.

An adjusted tax statement will be sent to you when a change is made to your Bupa membership that applies to a previous financial year. If this change affects any of the information required by the Australian Taxation Office (ATO) which is displayed on the tax statement, such as the eligible premiums, rebate received or the people covered on your membership (excluding dependants), you will receive an adjusted tax statement.

8. What do I need to do if I receive an adjusted tax statement?

If you receive an adjusted tax statement and you have not yet submitted your tax return you simply need to replace your original tax statement with the adjusted tax statement and use this to complete your tax return. This is because the adjusted tax statement shows the most accurate and up to date information.

If you have already submitted your tax return for the 2013-2014 financial year, you can contact the ATO and adjust your tax return at any time.

9. Where can I find out more?

If you still have questions you can contact us on 134 135, or visit your nearest Bupa centre. Alternatively, you can contact the Australian Taxation Office on 13 28 61, visit their website at ato.gov.au or speak to your tax adviser.

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