As we rapidly approach the end of 2024, it is worth considering the Medicare Safety Net (MSN), if you may need another medical assessment to access superannuation for medical expenses (e.g. IVF costs).
Effectively, when you reach the MSN threshold within a calendar year, you will get 80% of the scheduled fee for out-of-hospital services for the rest of the calendar year. The MSN is currently $2,544.30, therefore if you have paid this amount, or more, in out-of-pocket expenses, any remaining medical expenses for 2024 will reimbursed at a higher rate by Medicare.
If you think this applies to you, please take a look at How Medicare safety nets and thresholds work. If you have any questions, feel free to contact us.
