Q: What is Lifetime Health Cover and how does it affect me?


Lifetime Health Cover is a Government initiative that rewards those who take out and maintain hospital cover at a younger age with lower premiums throughout their life (compared to someone who joins later in life).

To lock in the lowest premiums for life under Lifetime Health Cover, a person needs to take out hospital cover with a registered fund before the first July 1 following their 31st birthday. After 31, the younger you join, the lower your premiums will be.

Under Lifetime Health Cover, health funds are required to charge people who were not members of a hospital cover prior to 1 July 2000, 2% extra on top of the normal premiums for every year they are aged over 30 when they first take out hospital cover.

For more information on Lifetime Health Cover, please refer to the Private Health website or contact us.