How a missing name on your health policy could cost you thousands

Individuals risk incurring the costly Medicare Levy Surcharge (MLS) if all dependants are not named on their health insurance policy. Families with an income exceeding $202,000 must ensure all dependants, including newborns, are covered to avoid surcharges of up to 1.5 percent of income. ATO data matching aims to ensure compliance with health insurance declarations.

Summary by Glance · SMH