Media releases

June 24, 2002

Annual Statements - Information required for your Tax Return

1. Private Health Insurance Statement 1 July 2001 to 30 June 2002Progressively during the first half of July 2002, Medibank Private will be automatically issuing Private Health Insurance Statements to all members (excluding Overseas Students and Overseas Visitors) who hold or held cover in the 2001/2002 financial year. This statement relates to the Federal Government 30% Rebate. Refer to TaxPack 2002 Question T4 (M21 for retirees).

The Private Health Insurance Statement provides details of the cover held by you with Medibank Private for the period from 1 July 2001 to 30 June 2002. It displays any amount of the Federal Government 30% Rebate you may have already received and/or any amount you may be eligible to claim as a tax offset on your 2001/2002 tax return.

As it will be automatically issued, you do not need to request this statement.

2. Medicare Levy Surcharge Statement 2002You may also require a Medicare Levy Surcharge statement. If your taxable income (when added to that of your spouse or partner, if you have one) exceeded the threshold shown at Question M2 (Question 25 for retirees) in TaxPack 2002, then the Medicare Levy Surcharge Statement may be used to determine your liability for the Medicare Levy Surcharge.

Please review TaxPack 2002 to verify whether or not you require the Medicare Levy Surcharge Statement as it is issued to members only upon request. It is necessary to request one statement for each member affected.

3. Annual Statement of BenefitsIf you believe that your medical expenses for the financial year 2001/2002 may entitle you to taxation concessions, you may request a consolidated Annual Statement of Benefits. This statement lists all members within the membership and provides a consolidated record of claims paid during the financial year.


INFORMATION FOR YOUR RECORDSLifetime Health Cover Statement 2002Progressively during the first half of July 2002, Medibank Private will be automatically issuing a Lifetime Health Cover Statement to members who currently hold hospital cover. It will be included with your Private Health Insurance Statement, (please refer above).

The Lifetime Health Cover Statement confirms your level of hospital cover. It provides a summary of benefits that you may be entitled to and outlines what costs, if any (eg. co-payment), would arise from the use of your hospital cover. It is for your information only and does not require any action from you. The statement is not required for taxation purposes.

As it will be automatically issued, you do not need to request this statement.


Back to top