Free Medicare Levy Surcharge vs Private Hospital Insurance Calculator

This Medicare Levy Surcharge vs Private Hospital Insurance Calculator aims to help Australians to decide whether they should pay Medicare Levy Surcharge or buy Private Hospital Insurance in order to save money.

What is the Medicare levy surcharge (MLS)?

According to Privatehealth.gov.au website, "The Medicare Levy Surcharge (MLS) is levied on payers of Australian tax who do not have private hospital cover and who earn above a certain income."

From 1 July 2012 (i.e. financial year 2012-2013, FY2013), the Medicare levy surcharge (MLS) income test will change. If you are single, earn more than $90,000 and don’t have private health insurance hospital cover you will pay the MLS. If you are a family, have a combined income of more than $180,000 and don’t have hospital cover for you, your partner, or your children – you will pay the MLS.

Here is a screen shot that will give you a better idea that what you need to do and how this free Breakeven Analysis Calculator can help you.

This calculator is built in Microsoft Excel worksheet. You need to have Microsoft Excel 2007 & above and Microsoft Windows to use it. You may be able to use the calculator with other applications that can open and read XLS spreadsheets, but this has not been tested.

Download Medicare Levy Surcharge vs Private Hospital Insurance Calculator

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