PRIVATE HEALTH INSURANCE INCENTIVES ACT 1998

CHAPTER 4 - PROVISIONS APPLYING BOTH TO INCENTIVE PAYMENTS SCHEME AND TO PREMIUMS REDUCTION SCHEME  

PART 8 - DICTIONARY OF DEFINED EXPRESSIONS  

Division 20 - Defined expressions  

SECTION 20-10   MEANING OF INCENTIVE AMOUNT  

20-10(1)   [Calculation]  

For the purposes of this Act, the incentive amount for an * appropriate private health insurance policy for a financial year is worked out in accordance with the following table:

Incentive amounts
Item	Number and kinds of people covered by the policy	Policy provides * hospital cover but not * ancillary cover	Policy provides * ancillary cover but not * hospital cover	Policy provides * combined cover
1	3 or more people	$350	$100	$450
2	One dependent child and one other person	$350	$100	$450
3	2 people neither of whom is a dependent child	$200	$50	$250
4	One person	$100	$25	$125

20-10(2)   [Part year premium]  

If the amount of the premium paid by a person, or by a person's employer as a * fringe benefit for the person, under the * appropriate private health insurance policy is for part only of the financial year, the incentive amount is worked out using the following formula:

Incentive amount   from subsection (1)

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Number of days in that part                 of the financial year                             365