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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 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.

Please keep your statement in a safe place as it may assist you or your tax agent in completing your tax return. 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 that you’ve received by way of reduced premiums;
  • other adult beneficiaries who were on the policy 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, the member will receive a Summary of Cover on the back of their private health insurance tax statement.

The Summary of Cover includes details of any Lifetime Health Cover (LHC) premium loading and/or period of absence (days without hospital cover) for LHC purposes. You won’t need this document to complete your tax return but you should keep it for your records.

2. What’s new about my 2012/2013 tax statement?

There have been a few changes made recently, both to the information in your statement and the way you receive it. Some of these changes include the following:

  • Other people may be listed on your statement including people who have passed away or ended their membership with us
    Due to recent changes to the Australian Government Rebate on private health insurance, all adults on your membership at the time of a payment are now eligible for a portion of the rebate. To support this, we need to provide a statement to each adult on your membership (except dependant children) so that they can claim their rebate. Previously, only the member would receive a single statement covering all adults on their membership.
  • If there’s more than one person on your membership, you may receive your statements in separate envelopes (if you’ve opted to receive them by post)
    Because of the change mentioned above, we now provide a statement to every adult on your membership. Without knowing how you’d like to receive your statement, we need to send them to each member separately. You can start getting your statements together in the same envelope by updating your communication preferences under the ‘Cover’ tab in myBupa.
  • The rebate amount you can claim is no longer included in your statement
    Due to the introduction of income testing for the rebate, your statement will no longer show you what level of rebate you’re entitled to. This is because we don’t collect information about your income. For this reason, the field relating to your rebate (box G) has been removed from your 2012/2013 statement. If in doubt about your rebate entitlement, 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 ‘Understanding your statement (PDF, 109kb)’. Here’s some more detail about a couple of these terms:

  • Other adult beneficiaries
    Other adult beneficiaries refers to:
    a) other adults insured under your policy on the day the premium or amount was received by Bupa; or
    b) in the case of a ‘dependent child only’ policy
    • 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 payer of the premium provided that person is not a dependant child.
  • Your share of premiums paid
    This doesn’t necessarily mean the amount of money that an individual has paid to Bupa. With the recent changes to the Australian Government Rebate on private health insurance, each adult (member and/or partner) on the membership is entitled to claim a portion of the rebate. For a single or single parent membership, they can claim the whole amount of monies paid (and receipted) by Bupa during the previous financial year. For couple or family memberships, each adult can claim 50% of the money during the previous financial year as long as they were on the membership at the time a payment was made.

4. Why does my tax statement show $0?

Following recent changes to the Australian Government Rebate on private health insurance, many of our members pre-paid their health insurance in 2012 to protect their 30% rebate. If this is you, the zero dollar amount in your statement reflects this and means you didn’t make a payment in the 2013/2013 financial year. Your statement will just show the number of days you were covered for.

5. When will I receive my tax statement?

The private health insurance tax statement and Summary of Cover (if applicable) are issued by 15 July.

If you’ve chosen to access your tax statements online, you will be advised via email when your statements 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. If you’ve opted to receive your statement by post, you’ll get it by 15 July.

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?

If you have registered to access your private health insurance tax statements online, you can view and download them dating back seven years. Simply jump online and log in to myBupa (or register if you haven’t already) and click the ‘Communications’ tab at the top of the page.

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

Due to the recent changes to the Australian Government Rebate on private health insurance there are some changes to the type of private health insurance tax statements that you may receive. 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 premiums paid 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 2012-2013 financial year, you can contact the ATO and adjust your tax return at any time.

9. Where can I find out more?

If we have not answered all your queries about your private health insurance tax statement, please call 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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