Would PHI be worth it?

[HarvestMoon]

Would Private health insurance be worth it for a single parent with 2 kids on $50k per year?
For not having it would i get slugged with the medicare levy/surcharge at tax time?

[Lil Bugs Mummy]

we just have extras cover with is 35 a fortnight but we are on the second to top cover u can get it for even cheaper which will cover general dental and optical also make sure u have ambulance cover either on it or just have the ambulance if not the extras

[Izy]

Harvest moon- that income would not be classed as high income for a single parent family. You will not be paying the medicare levy surcharge with or without insurance.

For the 2009/10 taxation year the MLS threshold for singles is $73,000 and for couples and families, the threshold is $146,000

You would more so want to look at if the insurance suits your needs at present and if you think you could fit it in the budget.

You will be paying the medicare levy of 1.5% but everyone pays that unless you are below (a really low) threshold.

*** Quote source the ATO click here for link (http://www.privatehealth.gov.au/information/surcharges/medicarelevychanges.htm)