Australian Lower House Passes Health Insurance Reforms

(Corrects time period of Budget savings.)

Australia’s government today passed legislation that would introduce means-testing of rebates for private-health insurance through the lower house. The legislation, which will enforce means-testing of the 30 percent rebate for individuals earning more than A$83,000 a year, needs approval in the upper house Senate to become law. The reforms are expected to save the government A$2.4 billion over three years, according to the Australian Broadcasting Corp.

To contact the reporter on this story: Jason Scott in Canberra at jscott14@bloomberg.net

To contact the editor responsible for this story: Jason Scott at jscott14@bloomberg.net

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