Lifetime Health Cover is a Federal Government initiative designed to encourage you to take out private Hospital Cover earlier in life and maintain your cover by offering lower contributions throughout your insured life, compared to those who join later in life.
For every year you are aged over 30 and you do not have hospital cover, you will pay an additional 2% loading on top of your 'base' single Hospital contribution (or your share of a family contribution), when you do join. This is effective on 1 July following your 31st birthday. For example, if you join private Hospital Cover for the first time at age 40, you'll pay 20% more compared to someone who joined at 30.
No loading is applicable to any member who joins private Hospital Cover by 1 July following their 31st birthday or who has maintained private Hospital Cover since 30 June 2000.
The maximum loading is 70%. The loading only applies to Hospital Cover, not Extras Cover. If you currently have Hospital Cover you will maintain the same loading as with your previous fund.
Permitted Days
Permitted days are the number of days you are able to drop your hospital cover without affecting (increasing) your loading. The total number of cumulative days is 1,094 (2 years and 364 days). Once you have used these days a 2% loading will then apply to your contribution each year you are without Hospital Cover.
You can drop your cover without using permitted days and without affecting (increasing) your loading when:
- your membership is suspended
- you are overseas for at least 12 months. You can return to Australia for visits of up to 90 days at a time and still be considered overseas.
Exceptions
If you were born on or before 1 July 1934, you can take Hospital Cover at any time and pay only the base contribution.
Certified Age - Lifetime Health Cover Loading
| 30 |
0% |
42 |
24% |
54 |
48% |
| 31 |
2% |
43 |
26% |
55 |
50% |
| 32 |
4% |
44 |
28% |
56 |
52% |
| 33 |
6% |
45 |
30% |
57 |
54% |
| 34 |
8% |
46 |
32% |
58 |
56% |
| 35 |
10% |
47 |
34% |
59 |
58% |
| 36 |
12% |
48 |
36% |
60 |
60% |
| 37 |
14% |
49 |
38% |
61 |
62% |
| 38 |
16% |
50 |
40% |
62 |
64% |
| 39 |
18% |
51 |
42% |
63 |
66% |
| 40 |
20% |
52 |
44% |
64 |
68% |
| 41 |
22% |
53 |
46% |
65 |
70% max |
Look up your age and add your percentage loading to the base rate.
For families or couples, look up the percentage loading of each partner. Add the loading together and divide by two. Then add this new percentage loading to the base rate.
This loading will be removed after 10 years of continuous hospital cover. |