The changes, announced in this week’s Budget, will remove the age-based loading on private health insurance rebates from January 2027. “We have to find more money for age care services. So every dollar we save through this measure will be invested in more age care beds, better care, more age care, home care packages,” he said. “This is a tricky and sneaky, and mean spirited, $11 billion tax on older Australians,” Ms Hume said. She warned many retirees on fixed incomes would be forced to abandon private health insurance, increasing demand on public hospitals and lengthening waiting lists for all Australians.