AAMI Health Insurance
ACA Health
ahm
AIA Health Insurance
Allianz Care Australia
APIA Health Insurance
Astute Simplicity Health
Australian Unity
Bupa Health Insurance
CBHS Corporate
CBHS Health
Defence Health
Doctors Health
Emergency Services Health
Frank
GMHBA
GU Health
HBF
HCF
HCi
Health Partners
HIF
Hunter Health Insurance (by CDH Benefits Fund)
ING Health Insurance
Latrobe Health Services
Medibank
Mildura Health Fund
Navy Health
nib
Nurses & Midwives Health
onemedifund
Peoplecare
Phoenix Health Fund
Police Health
Priceline Health Insurance
Qantas Insurance
Queensland Country Health Fund
Real Health Insurance
Reserve Bank Health Society (RBHS)
rt health
see-u By HBF
Seniors Health Insurance
St Lukes Health
Suncorp Health Insurance
Teachers Health
Territory Health Fund
Transport Health
TUH
UniHealth
Union Health
Westfund
Reduces your health insurance premium based on your income and number of dependants.
Reduces your Hospital Cover premium if you are under 30. Not available from all insurers.
Increases your Hospital Cover premium if you did not take out cover before the age of 31. A mandatory government loading.
The Government Rebate, also known as the Private Health Insurance Rebate, is a rebate the Australian Government pays towards the cost of your health insurance to make it more affordable.
If you are eligible for the Rebate, you are entitled to a rebate on the cost of your:
Your Rebate depends on your:
The Age-based Discount is a discount on the cost of health insurance for people under 30.
It is designed to encourage young people to take out private health insurance.
If you are under 30, you can take advantage of savings on Hospital Cover with insurers that offer the Age-based Discount.
The Age-based Discount is calculated at 2% for each year you are under 30 up to a maximum of 10%. You retain the discount until you are 41 then it phases out at 2% per year.
The Lifetime Health Cover Loading is an extra charge you may have to pay if you take out Hospital Cover after the age of 30.
It is designed to encourage Australians to take out Hospital Cover early in life.
The Lifetime Health Cover Loading is a 2% loading for every year you are over 30 from the time you take out Hospital Cover.
The maximum Loading you have to pay is 70%.
Once you have paid the Lifetime Health Cover Loading for 10 years, you no longer have to pay it.
Although Australia has a public health system, known as Medicare, the Australian government encourages everyone to take out private health insurance to ease the pressure on the public health system.
Before deciding whether to take out private health insurance, especially Hospital Cover, understand the implications of not taking out cover, especially if you want to postpone taking out private health insurance until later in life.
If you have an income below a certain amount, you may be able to save on Hospital Cover, Extras Cover and Ambulance Cover through the Private Health Insurance Rebate (Government Rebate).
If you are under 30, you may be able to save up to 10% on Hospital Cover through the Age-based Discount.
If you postpone taking out Hospital Cover until you are over 30, you are likely to have to pay the Lifetime Health Cover Loading. This will increase the price of health cover at 2% per year up to a maximum of 70%.
If you earn over a certain amount and do not take out Hospital Cover, the Australian government will charge you up to 1.5% extra in tax through the Medicare Levy Surcharge.
It may be cheaper for you to take out Hospital Cover than to pay more tax.
Health insurers can offer discounts, services, waivers, gifts or other offers to appeal to new customers, and may offer reduced premiums to existing customers in certain circumstances, e.g. those who pay in a certain way or belong to a contribution group. Insurer promotions are offered at the discretion of the insurer and change regularly. You need to ask your insurer what promotions might be available to you so you can finalise your price.
There are 2 scenarios where including adult dependants on your policy will increase your premium.
Non-student dependants includes dependants aged up to 31, single and not in full-time study. Your insurer may charge an extra fee to cover them under your policy. Each insurer has their own definition of ‘non-student dependants’, so ask your insurer about their age limit, and any other conditions such as whether your dependants need to be living at home.
Adult dependants with a disability includes adult children aged over 18 who are living at home and participating in the NDIS. They can be covered under your health insurance policy for an increase to your premium. Some insurers will cover adult children with a disability who are not participating in the NDIS, so check with your insurer about how they cover dependants with a disability.
