Don't pay the Government Lifetime Health Cover (LHC) loading
If you take out hospital cover by 1 July following your 31st birthday you won't pay the LHC loading. Otherwise there's a 2% loading on top of the standard premium for each year you are over 30, to a maximum loading of 70%.
What is the Lifetime Health Cover loading?
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.
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' Hospital premium (or your share of a couple or family premium), when you do join. This is effective on 1 July following your 31st birthday. For example, if you take out private Hospital Cover for the first time at age 40, you will pay 20% more than someone who joined at 30. The Lifetime Health Cover loading will cease once you have paid for 10 continuous years – as long as you retain your hospital cover.
Avoiding the LHC is easy!
To avoid the LHC loading, take out any Health Partners hospital or package cover by 1 July following your 31st birthday.
Missing the LHC deadline of June 30 could cost you
Calculations based on 2016 Fortnightly Single Bronze Hospital cover with the base tier rebate and 3% direct debit discount. The LHC amount will be added to your hospital cover and will remain in place for 10 continuous years.