In a nutshell LHC loading is an additional loading you are required to pay if you take out hospital cover after the first of July following your 31st birthday. If you join a health fund after you turn 31 you must pay an extra loading on your base rate premium equivalent to 2% for every year by which you delay joining (also referred to as "penalty for late entry").
Lifetime Health Cover (LHC) loading is a Government initiative designed to encourage people to get hospital insurance early in life and to keep their cover.
If you take out hospital cover after 1 July following your 31st birthday, your base premium (before any Private Health Insurance Rebate is deducted) may increase by 2% for each year you’re over the age of 30 up to a maximum of 70%. Any other adult on your policy will also have to pay LHC if they join after 1 July following their 31st birthday.
You can avoid paying the LHC loading on top of your insurance premiums by taking out hospital cover before 1 July following your 31st birthday.
The LHC loading ceases once you’ve had private hospital cover for ten continuous years and does not apply for people born on or before 1 July 1934.
If you are a new migrant to Australia, an Australian citizen or a permanent resident who is overseas on 1 July following your 31st birthday special circumstances will apply. We will need to assess your International Movement Records from the Department of Home Affairs and any relevant Medicare documents such as your Medicare Eligibility letter to determine your LHC loading.
Absent days - to cover small gaps, such as switching from one fund to another, you are able to be without hospital cover for periods totalling 1094 days (i.e. three years less one day) during your lifetime, without affecting your LHC.
CAE (Certified Age of Entry) - the age at which you first took out hospital cover, which is used to calculate how much LHC loading you need to pay.
Combined Lifetime Health Cover Loading - For a family policy the average age (CAE) of the two adults will be used to calculate the LHC loading that will apply.
We have a great range of hospital covers, so you can pick the one that suits your lifestyle and budget.With extras you can claim for services such as dental, optical, physio and massage. We have a great range of covers, so you can pick the one that suits your lifestyle and budget.
(*) Prices include direct debit discount. (R) Restrictions apply. Sub limits may apply on extras products, click on for more details. Set extras benefits apply per service and vary depending on cover. Waiting periods may apply. Your rates may differ based on your Lifetime Health Cover loading (LHC). Actual rates may differ from those stated by up to 5c due to rounding increments.
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