PRIVATE HEALTH INSURANCE (TRANSITIONAL PROVISIONS AND CONSEQUENTIAL AMENDMENTS) ACT 2007

SCHEDULE 2 - AMENDMENTS  

A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999  

4   Subsections 4(1) to (3)  
Repeal the subsections, substitute:


(1)
For the purposes of this Act, a person is covered by an insurance policy that provides private patient hospital cover if:


(a) the policy is a complying health insurance policy (within the meaning of the Private Health Insurance Act 2007 ) that covers hospital treatment (within the meaning of that Act); and


(b) any excess payable in respect of benefits under the policy is no more than:


(i) $500 in any 12 month period, in relation to a policy under which only one person is insured; and

(ii) $1,000 in any 12 month period, in relation to any other policy.


(2)
Paragraph (1)(b) does not apply in relation to an insurance policy under which a person has been insured continuously since the end of 24 May 2000, as long as the amount of any excess payable under the policy has not increased since that time.




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