Government announces new income thresholds for the PHI rebate and MLS

The Government recently announced the new income thresholds for the private health insurance (PHI) rebate and the Medicare Levy Surcharge (MLS) which come into effect on the 1st July 2014.

What are the changes?

Every year the Government indexes income thresholds for the (PHI) Rebate and the Medicare levy surcharge (MLS). As a result, the income tiers the Government sets have increased for the 2014/15 financial year. This means the percentage of the rebate you get back and the percentage of MLS you pay could change next financial year.

What do you need to do?

Check out the new tiered rebate system. If your income has changed email Frank with your new rebate tier and we’ll update it for you.

If you have any questions on the changes give team contact team Frank via webchat, email or on 1300 437 265.

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Exciting changes to Frank

Posted by Troy on March 3, 2014 in Frank news

Frank loves hearing from members on how we can meet their needs better. As that is why we are here, for our members. From 1 March 2014 Frank is introducing some exciting new products & rewards.

Best Hospital with or without cover for Pregnancy

We heard rumblings of members wanting an option of removing pregnancy cover from Best Hospital. We listened, so now you have the option of Best Hospital (with pregnancy) or Best Hospital (no pregnancy). Those that have chosen our no pregnancy option will pay less than those with pregnancy. Fairer for all. For more info click here

Basic Hospital (some private)

Also, you wanted the option of adding some private hospital coverage to Frank’s Basic Hospital cover. So you can either stick with Basic Hospital or there is now Basic Hospital (some private). You’ll be covered in a private hospital for things like accidents, appendix removal, surgical tooth extraction (like wisdom teeth) and other important stuff. For everything else, Basic Hospital covers you as a private patient in a public hospital. So, if you want a bit of the bells and whistles but still want low cost hospital cover then maybe the new Basic Hospital (some private) cover is for you. For more info click here

More Gap Cover

Frank is also introducing a super-charged medical gap cover option called More Gap cover on our Best Hospital. Frank’s more gap option pays higher medical benefits which means less out-of-pocket for doctor’s fees. If you want it you’ll have to pay a bit extra. It’s only fair.

Frank is rewarding members

Good News! Frank wants to reward members for sticking around. From 1 April 2014 members will earn Frank Rewards for every year you have Frank Hospital cover. You can use them to reduce your out of pocket medical expenses if you go into Hospital. Click here for more information.

And above all, we will keep providing simple, low-cost health insurance. It’s what our members want.

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Health Insurance premiums are set to increase

Posted by Troy on February 25, 2014 in Frank news

On 1 April, health insurance premiums will increase by an average of 6.20% across the entire industry.

Here are some of the increases for the larger funds in Australia:

Health fund Premium increase
BUPA 6.35%
Medibank 6.49%
NIB 7.99%
HCF 6.89%
Australian Unity 6.62%
GMHBA Limited 5.94%
Industry average 6.20%

View the Ministers full list of health fund increases

But what about Frank’s premium increase?

Frank’s increase is included under GMHBA Limited (Frank’s old man). All Frank members will be notified by mid-March about their policy changes, which take effect on 1 April 2014.

Once a year, Frank reviews product features and adjusts premiums to make sure they still meet our member’s needs. We take into account member feedback and changes in the health industry.

Frank’s product and premium changes reflect our commitment to providing low cost but good quality health cover for our members.

Federal Government Rebate

Please note that from 1 April 2014, the Federal Government will change how the private health insurance rebate is calculated and applied. This affects all health funds equally. The change will be based on an industry weighted average and is determined using a number of factors including Consumer Price Index (CPI). The change will come into effect on 1 April 2014 and will apply to any premium payments that are made on or after that date. 

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Franks on the hunt for Suitors…

Posted by Troy on November 4, 2013 in Frank news

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This year Frank is suiting up again to raise funds for Orygen Youth Health in the Annual Suit Up & Ride event. The difference about this cycling event is there is no lycra allowed! Grab a few mates from work, don your corporate gear and go for a ride on the RACV Melbourne Bike Share bikes on the banks of the Yarra. Why not register a team and join Frank on the track!

Cadel Evans and Matt Goss will be competing this year, so if you’ve ever wanted to ride alongside the best in Australian cycling this is your chance. Don’t be intimidated though the RACV Melbourne Bike Share bikes ensure an even riding field.

Frank’s Facebook Fakie will be back this year! Fool your friends in front of the Green Screen and we’ll make you look like a cycling pro riding alongside Cadel. We’ll even give you a copy of the photo so you can show off to your mates and then tag yourself on Facebook for your chance to win a Go Pro!

While you’re watching the pack or resting in between heats you can check out Hunters and Collectors & friends, grab a bite to eat from the gourmet food vans, Mr Burger and Yogurrddiction or get your photo taken in the Frank Facebook Fakie Comp. It’s a great excuse to head out for lunch on the Yarra or even bring your Christmas Party to Suit Up and Ride (Santa hats welcome).

suit-up-and-rideCheck out all the action from last year here

When: Thursday, 5th December 2013

Where: Alexandra Gardens, Melbourne

Time: 12pm- 2pm

Register a team today, and you’ll get to see the back of Team Frank in person! Team entry into Suit Up & Ride is $1000 and is fully tax deductible.

Not up for the ride yourself? You can still support the cause by donating via the suit up and ride website.

Want more info? Check out the Suit Up & Ride website, Facebook page, and Twitter feed. Or stay tuned, and Frank will keep you up to date.

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Frank Freestyle Friday – 12th July 2013

Posted by Troy on July 8, 2013 in Frank news

Frank’s ready to carve it up at Mt Buller

Watch out as the Frank team hits the mountain this Friday for some Frank Freestyle Friday fun.

What Frank has planned

10am – 12pm Rail Jam @BourkeStPark (Note: change of location)

The fun begins in the Frank MBP @BourkeStPark (re-located from @Koflers). Come and join us from 10am-12pm and take part in all the excitement and action that will be happening during our Rail Jam.

Frank has stacks of Burton gear to give away. By simply getting involved, you could walk or slide away with a brand new snowboard!

1pm – 6pm Frank Facebook Fakie @VillageSquare

We don’t want anyone to miss out on the action so we will also be at the Mt Buller Village Square from 1-6pm for Frank’s world-famous Facebook Fakie.  Just look for the giant igloo!


Ever wanted to know what it’s like to get some big air or feel on top of the world? Jump in front of Frank’s green screen (Facebook Fakie) and we will make you look like a snowboarding pro. We’ll even take a photo and give it to you for ultimate showing off privileges.

All the photos will be loaded onto Frank’s Facebook page and if you tag yourself, you could WIN a GoPro Hero 3 Silver Edition video camera valued at $380! The GoPro will let you film your epic tricks for real!

Frank scouts will be all over the mountain to give out prizes to those spotted wearing the Frank MBP sticker. Get your sticker from park crew members or inside the igloo in the Village Square. There are stacks of Burton prizes up for grabs, no matter where you are on the mountain.

To be part of all the snow action, join Frank this Friday at Mt Buller’s Frank MPB and don’t forget to bring your thermals!

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Important changes to Lifetime Health Cover loading

Posted by Troy on July 3, 2013 in Frank news

From July 1 2013, the the private health insurance rebate will no longer be applied to the Lifetime Health Cover loading (LHC) component on any membership.

What’s changed?

In the past, the Federal Government has offered a private health insurance rebate to Australians who have held eligible hospital cover. The rebate amount depended on your age and income level.

  • Up until 1 July 2013, the rebate was applied to your entire premium including your loading component.
  • From the 1 July 2013 onward, the rebate will not apply to your loading component.

A Frank breakdown of a $1,000 hospital premium with 20% Lifetime Health Cover loading

A Frank breakdown of a $1,000 hospital premium with 20% Lifetime Health Cover loading

What this means for Frank members with a loading on their policy

Members with a LHC loading on their policy will not receive any rebate they were previously entitled to on their LHC loading amount, meaning they will need to pay more for their health insurance.

Frank members will continute to be charged at the current rate which includes the LHC loading until the 1st August 2013. Members who are affected and make a pyment towards their premium during July will need to make up the difference with the Australian Taxation Office when submitting the 2013/14 annual tax assessment.

If you have made a payment on your health insurance prior to 1 July 2013, you will have secured the rebate on the LHC loading component until your next premium is due.

Think you may be effected?

Don’t stress! Members affected by this change will be notified in full detail by Frank. Give Frank a call on 1300 437 265 if you have any questions regarding your membership.

For More information about LHC and the rebate please visit

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It’s tax time! Things you should know

Posted by Troy on June 28, 2013 in Frank news

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Crunch time…hurty thirty…no it’s the end of the world. It’s tax time! If you’ve watched TV lately, you’ve more than likely seen plenty of ads warning you about private health cover and June 30. Some providers mention savings others scare with confusing jargon and tax implications.

The reality is June 30’s an important day in the PHI world because if you purchase private health before June 30 you may be able to make a tax savings rather than lose money. Of course it’s not as straight forward as it sounds and depends on a few different factors.

It’s important to remember that any tax benefits you make by purchasing private health before the end of this financial year won’t be seen until next year’s tax return. Yes you can take out private hospital cover part way through a year and still get some benefit, but to get the full benefit you have to have had private health cover for the entire financial year. That’s why June 30 is an important date.

With all the tax myths out there, it’s hard to know whose telling porkies. So Frank’s going to set the record straight! In this blog will explain who needs to be concerned, the reasons why and how to avoid/save at tax time.

Who’s in the firing line?

1. Those who will earn over $84,000 p.a. as a single or $168,000 p.a. as a couple in the 2012/13 financial year.
2. Those that are turning 31 years old

Due to the Medicare Levy Surcharge people who earn over $84,000 p.a. as a single or $168,000 p.a. as a couple in the 2012/13 financial year will generally have to pay more in tax (if they don’t have PHI) than the whole cost of an annual premium.

For example, in 2012/13 a single person under age 65 with an income of $85,000 a year without PHI will pay $850 a year for the Medicare Levy Surcharge (1% of their income- as they are in tier 1 of the ‘tiered rebate’ system). Frank’s cheapest cover on “50% back” starts at $646.85 per annum for basic hospital cover- a difference or saving of $203.15.

And why 30 years old you ask?

The Government wants you to take out private health insurance at 30 because, statistically you’re more likely to visit the hospital more frequently after 30. To encourage people to purchase hospital cover at 30 the Government introduced Lifetime Healthcover Loading (LHC) on the 1st of July 2000.

The LHC Loading is an extra charge on top of your normal hospital cover premiums if you take out hospital cover after you turn 31. The loading starts at 2% per year for every year after 31. E.g. If your 51 and never had hospital cover then a loading of 40% would be applied. If you pay a premium of $646.85 p.a. and applied the 40% loading you would pay an extra $258.74 per year. It’s best to avoid the LHC Loading by joining a health fund before you turn 31 years old.

Still confused?

You’re not alone! This stuff even confuses Frank. Check out Frank Uni for simple, short explanations without the B.S. There’s loads of info about LHC loading, the MLS rebate and much more. We also have a blog on the new 2013/14 income thresholds for the private health insurance (PHI) rebate and the Medicare Levy Surcharge (MLS).
Realised you need health insurance?

Need health insurance?

So you’ve just realised your one of those people that needs health insurance for next year’s tax purposes. No probs! Franks open 10am to 6pm on Saturday and 11am to 8pm on Sunday to answer any questions you might have. To purchase a membership without any fuss, go to and do it all online from home.

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