For the purposes of the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999 and the Medicare Levy Act 1986 , any excess payable in respect of benefits under a * complying health insurance policy that provides * hospital cover must not be more than:
(a) $750 in any 12 month period, in relation to a policy under which only one person is insured; and
(b) $1,500 in any 12 month period, in relation to any other policy.