Owen Rascovich

On the TV, they'll be like, do you earn more than X?

Well, you should get health insurance before June 30 or whatever it is, right?

This is the thing.

no that's not how it always works so if you earn more than 90k for a single or 180k for a household or couple you start to pay an extra tax called the medicare levy surcharge right the surcharge is different to the normal levy yeah that's an extra one right so if you pay more than that

If you earn more than that, sorry, you'll be paying this extra tax.

But if you have health insurance, you won't be paying that.

So it is possible if you're a, what do you call it?

You've got some pretty deep pockets.

If you earn a 90K single, that's pretty good, well done.

But you could actually save on tax the more you earn.

So that's a really good incentive to take out private health cover.

Another important note, that's not extras.

It's just the hospital cover.

It has nothing to do with extras.

Okay.

So the question that I always get, and this is a really personal one, is I'm under 30 and I heard there's a rule coming in or there's a rule that if I turn 30 and I don't have health insurance, I need to get it.

And that's a really common question because the way it's marketed makes people think that they have to get it.

And if they don't get it by 30, they're going to be locked up and thrown away forever.

No.

So the way it works is that if you are over 30 and you take out health insurance, it's going to cost you more than if you were under 30 and took it out.