The government wants to remove the age-based top-ups to the private health insurance rebate from April next year, a measure it says would save $3 billion over four years and fund aged care. The opposition, the Greens and crossbench senators joined forces in the Senate to knock the bill off the agenda, and the Greens want pensioners excluded from it. Health Minister Mark Butler reintroduced the bill in the House of Representatives on Thursday, but its future is unclear and negotiations with the Greens are expected in the coming weeks. Teal independent Monique Ryan, citing a Parliamentary Budget Office analysis she commissioned, says half the savings would come from the older Australians least able to afford them, and the Health Department estimates closer to 80,000 people could drop their cover, compared with the 44,000 the government cited. The pressure also weighs on Treasurer Jim Chalmers, as unemployment reached 4.7% in September, a five-year high.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on camdencourier.com.au ↗
Related news
- Michelle Grattan | Labor reintroduces health insurance rebate | Wellington Times
The Albanese government proposes removing age-based top-ups to the health insurance rebate for people aged 65 and over, starting from April next year, to save $3 billion over four years for aged care. The Senate voted to take the bill off the agenda after the opposition, Greens and crossbenchers opposed it, and the Greens want pensioners excluded as the price of passage. Health Minister Mark Butler reintroduced the bill in the House of Representatives, but its future remains unclear as the government negotiates with the Greens. Independent MP Monique Ryan, citing a Parliamentary Budget Office analysis, argues that half the savings would come from older Australians least able to afford them. She says the Health Department estimates nearly 80,000 people may drop their cover, well above the 44,000 the government cited.
- Michelle Grattan | Labor reintroduces health insurance rebate | Blayney Chronicle
The government's plan to scrap the age-based top-ups to the private health insurance rebate, which would save $3 billion over four years, is again in trouble. The measure, due from April next year, would remove the larger rebates for people 65 and over and 70 and over, with the savings directed to aged care. The Senate voted on Wednesday to block the bill, and the Greens want pensioners exempted as the price of passage. Health Minister Mark Butler reintroduced it in the House of Representatives on Thursday, and its fate depends on talks with the Greens. Critics such as Monique Ryan, citing Parliamentary Budget Office analysis, argue the Health Department puts the number of people likely to drop cover at closer to 80,000, compared with the 44,000 the government has cited, shifting costs to public hospitals.
- Michelle Grattan | Labor reintroduces health insurance rebate | Western Advocate
The government plans to remove the higher private health insurance rebate for people aged 65 and over from April next year, saving $3 billion over four years to fund aged care. The Senate voted against the bill on Wednesday, with the opposition, Greens and other crossbenchers joining forces, and the Greens want pensioners excluded as the price of passage. Health Minister Mark Butler reintroduced the bill in the House of Representatives on Thursday, but its future remains unclear. Teal independent Monique Ryan, citing a Parliamentary Budget Office analysis, argues that half the savings would come from older Australians least able to afford them, and says the government's estimate of 44,000 people dropping their cover is far below the Health Department's figure of closer to 80,000.
- Michelle Grattan | Labor reintroduces health insurance rebate | Narromine News
Health Minister Mark Butler reintroduced the bill to remove the age-based top-ups on private health insurance rebates for people 65 and over, a measure the government says would save $3 billion over four years for aged care. After the opposition, Greens and crossbenchers voted it off the agenda in the Senate, the Greens want pensioners exempted as the price of passage. Independent Monique Ryan said Parliamentary Budget Office analysis showed half the savings would come from older Australians least able to afford them, and that the government had claimed 44,000 people might drop their cover, while the Health Department estimates the figure is closer to 80,000. Michelle Grattan notes the fight adds pressure on Treasurer Jim Chalmers as unemployment hit 4.7 per cent in September, a five-year high.
- Michelle Grattan | Labor reintroduces health insurance rebate | The Advocate
Health Minister Mark Butler reintroduced the bill to remove the age-based top-ups on private health insurance rebates for people 65 and over, a measure the government says would save $3 billion over four years for aged care. After the opposition, Greens and crossbenchers voted it off the agenda in the Senate, the Greens want pensioners exempted as the price of passage. Independent Monique Ryan said Parliamentary Budget Office analysis showed half the savings would come from older Australians least able to afford them, and that the government had claimed 44,000 people might drop their cover, while the Health Department estimates the figure is closer to 80,000. Michelle Grattan notes the fight adds pressure on Treasurer Jim Chalmers as unemployment hit 4.7 per cent in September, a five-year high.
- Michelle Grattan | Labor reintroduces health insurance rebate | The Advertiser - Cessnock
The government wants to remove the higher private health insurance rebate paid to people aged 65 and over (larger again from 70) from April next year, saving $3 billion over four years to put into aged care. On Wednesday, the opposition, Greens and crossbenchers joined in the Senate to knock the bill off the government's agenda, with the Greens demanding pensioners be excluded. Health Minister Mark Butler reintroduced the bill in the House of Representatives on Thursday, but its future remains unclear. Teal independent Monique Ryan, citing a Parliamentary Budget Office analysis, says half the savings would come from older Australians least able to afford them. She also says the Health Department puts the number of people who might drop cover at about 80,000, versus the government's 44,000.
Related markets
Latest news
- Anthropic Gives 5% of Itself to the Public. Musk Answers by Giving Away SpaceX Shares
Anthropic will commit 5% of its shares to a new Public Benefit Fund, subject to stockholder approval, and says roughly 20% of its stock will go to public causes once co-founder and employee pledges are counted. Elon Musk responded by promising one SpaceX share to every U.S. child next year, a giveaway worth more than $10 billion at current prices. The fund follows a draft AI safety bill Anthropic pitched to lawmakers, which would let the government block models posing a risk of killing or injuring more than 50 people or causing over $1 billion in damage. Anthropic is preparing an IPO as soon as November at a reported valuation of around $2 trillion, which would put its 5% stake at about $100 billion on paper rather than in cash. The fund is a wholly owned LLC rather than a nonprofit, and it cannot be used for lobbying or political donations.
- Power company announces an important decision
CTCP Nhiệt điện Quảng Ninh (QTP) says its board approved the EPC contract for package 05 of its flue gas treatment upgrade project, signed with the SEC-Pacific joint venture of Shanghai Electric Group and CTCP Tập đoàn Thái Bình Dương on a fixed-price basis. The contract is worth over 89.75 million USD and nearly 902 billion VND, about 3,271 billion VND in total, with 38 months to complete. SEC-Pacific was the only bidder to pass technical evaluation, as rival CISDI failed to reach the minimum score. The company has also appointed two deputy general directors this year, Nguyễn Công Kiên from 12/8/2026 and Dương Thành Công from 16/10/2026, after former board member Lê Việt Cường was arrested in February 2026 over alleged forgery of documents. For the first six months of 2026, net revenue reached nearly 6,359 billion VND, up over 10%, and profit after tax about 524 billion VND, up over 44%, already exceeding its full-year 2026 profit plan.
- Aeroméxico Reports Unaudited Third Quarter 2026 Results
Aeroméxico reported unaudited third-quarter 2026 results, with record revenue of $1.6 billion, up 13.6% year over year, driven by international passenger demand, premium cabins, loyalty and cargo, which grew 15.8%. Fuel expense rose 57.6% to $469.0 million as jet fuel prices hit historic highs, but adjusted EBITDAR reached $389.2 million, a 24.0% margin, and operating income was $189.6 million, an 11.7% margin. The company recognized $48.7 million from an updated loyalty program breakage estimate, its first such alignment since 2018. Management expects fourth-quarter revenue to grow about 15% year over year, assuming an average all-in fuel price of about $4.5 per gallon and an exchange rate of 18.0 Mexican pesos per U.S. dollar.
- Why Berkshire's Latest Move Proves It's Not Really a Warren Buffett Company Anymore
Greg Abel took over as Berkshire Hathaway CEO at the start of 2026, though Warren Buffett and Abel are reportedly in regular contact on investment decisions. Berkshire has taken a stake in Milan-based Bending Spoons, investing $600 million in its IPO over the summer and adding $330 million since, a position of about 0.4% of its portfolio. The author argues this is out of character for Buffett, who was skeptical of acquisitive companies and prefers consistent, predictable earnings, while Bending Spoons buys and turns around troubled software businesses. The author sees the move as a possible turning point toward more risk-taking and tech investment under Abel, and suggests a wait-and-see approach to the stock until his investment choices become clearer.
- Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback
SkyAI, formerly Sharps Technology, has sold its entire Solana (SOL) treasury and launched a tender offer to buy back up to $201.3 million of shares and warrants, reversing its crypto accumulation strategy. As of Oct. 16 the company held about $223.8 million in cash, and the offer covers up to 95% of each class of shares and warrants at a fixed price, no longer tied to SOL's price as originally planned. The company says it will keep building a financial platform that combines stablecoin infrastructure on Solana with artificial intelligence. The strategy began in August 2025 after a private placement of more than $400 million, and by the end of 2025 it had produced about $153 million in unrealized losses. SkyAI shares closed Monday at $2.79, up 5.3% on the day.
- Tech stocks had a nice oversold bounce on Monday. Earnings this week will determine if it's for real
The S&P 500 and Nasdaq Composite rallied Monday as AI and chip stocks rebounded, with the iShares Semiconductor ETF (SOXX) on pace to snap a nine-day slump and the iShares MSCI South Korea ETF (EWY) up 4%. Last week, the S&P 500 fell nearly 2%, its worst weekly decline since late June, while the Nasdaq Composite dropped 4.5%. Whether the rebound lasts will depend largely on results from big tech names such as Meta and Tesla, as well as SpaceX, which reports after the bell Tuesday. Of the 47 S&P 500 companies that have reported third-quarter results, 85% have beaten expectations, but most tech earnings are still to come. Sameer Samana of Wells Fargo Investment Institute sees the AI selloff as a 'reality check' rather than a full-blown unraveling, though pressure may last through the midterms.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.