Re the tax time financial advantage - PHI will only help avoid the medicare levy surcharge (and if you earn under a certain amount you wouldn't have to pay this anyway), it does not reduce your medicare levy, which is a flat rate of earnings. It's shoddy advertising really, they make it seem like it will save everyone by having PHI but it will only save those earning over a certain amount.
Absolutely is shoddy advertising!!!! But at the same time a good argument for me with my DH and pursuading him to keep it going