Start early and save with Lifetime Health Cover
Lifetime Health Cover is a Federal Government initiative which recognises the length of time a person has hospital insurance with a registered health fund. If you take out hospital insurance by 30 June following your 31st birthday and maintain it, you will pay lower premiums compared to someone who joins when they are older.
If you take out hospital insurance later in life, then you will pay a 2% loading on top of the base premium for every year you are aged over 30.
For example, a person who first takes out hospital cover at age 40 will pay 20% more every year than someone who takes out hospital cover at age 30. The longer you leave it, the higher the loading. The maximum loading is 70%.
The loading will be removed after you have maintained hospital cover for a continuous 10 year period.
Under Lifetime Health Cover, members are able to cease their hospital cover for a cumulative period of 1,094 days in their lifetime without affecting their loading. On the 1,095th day and for every 365 'days without hospital cover' thereafter, your Lifetime Health Cover loading will increase by 2%. Should you consider ceasing your hospital cover, we suggest you discuss your options with Defence Health.
If you are transferring your hospital cover from another fund your 'Transfer Certificate' will confirm your Lifetime Health Cover loading and days without hospital cover for our records.
Lifetime Health Cover and the ADF
Special provisions apply to permanent members of the ADF on discharge in recognition of you having had effective hospital cover during your period of service.
If you are over 30 and purchase hospital cover on your date of discharge your Lifetime Health Cover loading, if any, will be determined by either the age you were when you enlisted, or your date of enlistment. If you were under 30 when you enlisted, or you enlisted prior to 1 July 2000, then you are unlikely to have a Lifetime Health Cover loading.
If you are aged over 30 on your date of discharge and do not purchase hospital cover, then you will start accumulating 'days without hospital cover'.
If you are thinking about discharging in the near future then call Defence Health to find out how you may be affected by Lifetime Health Cover.
You may need to think now about whether the Lifetime Health Cover loading affects your civilian partner.
Start early and save with Lifetime Health Cover
Lifetime Health Cover is a Federal Government initiative which recognises the length of time a person has hospital insurance with a registered health fund. If you take out hospital insurance by 30 June following your 31st birthday and maintain it, you will pay lower premiums compared to someone who joins when they are older.
If you take out hospital insurance later in life, then you will pay a 2% loading on top of the base premium for every year you are aged over 30.
For example, a person who first takes out hospital cover at age 40 will pay 20% more every year than someone who takes out hospital cover at age 30. The longer you leave it, the higher the loading. The maximum loading is 70%.
The loading will be removed after you have maintained hospital cover for a continuous 10 year period.
Under Lifetime Health Cover, members are able to cease their hospital cover for a cumulative period of 1,094 days in their lifetime without affecting their loading. On the 1,095th day and for every 365 'days without hospital cover' thereafter, your Lifetime Health Cover loading will increase by 2%. Should you consider ceasing your hospital cover, we suggest you discuss your options with Defence Health.
If you are transferring your hospital cover from another fund your 'Transfer Certificate' will confirm your Lifetime Health Cover loading and days without hospital cover for our records.
Lifetime Health Cover and the ADF
Special provisions apply to permanent members of the ADF on discharge in recognition of you having had effective hospital cover during your period of service.
If you are over 30 and purchase hospital cover on your date of discharge your Lifetime Health Cover loading, if any, will be determined by either the age you were when you enlisted, or your date of enlistment. If you were under 30 when you enlisted, or you enlisted prior to 1 July 2000, then you are unlikely to have a Lifetime Health Cover loading.
If you are aged over 30 on your date of discharge and do not purchase hospital cover, then you will start accumulating 'days without hospital cover'.
If you are thinking about discharging in the near future then call Defence Health to find out how you may be affected by Lifetime Health Cover.
You may need to think now about whether the Lifetime Health Cover loading affects your civilian partner.