Health fund members have discovered that the best way to avoid means-testing of the nation’s $5 billion private health insurance rebate is to prepay their premiums.  After the means test on private health fund subsidies was approved by the Senate, almost 2 and a half million health fund members will start paying up to $1300 more each year for health cover starting July 1.  Health insurers all across Australia braced for a huge increase of members choosing to prepay premiums after the Australian Taxation Office sent out letters warning consumers about the changes. … [Read more...]