Government Initiatives
Lifetime Health Cover
Lifetime Health Cover (LHC) is a Federal Government initiative that encourages people
to join private health cover earlier in life. By joining an nib hospital cover by
1 July after your 31st birthday, you can pay less for your private health cover
in the future.
Under LHC, if you join after 1 July following your 31st birthday, you will have
to pay a 2% loading on top of the normal premiums for each year you waited
before taking out private health cover. Not just with nib, but with any health fund.
For example, if you wait until you're 40 you will pay 20% more than someone on the
same cover who joined when they were 25.
All hospital covers offered by nib meet LHC requirements. LHC does not apply to
extras cover.
If you were born before 1 July 1934, LHC doesn't apply to your health cover.
LHC allows for changes in your circumstances, and lets you drop your hospital cover
for a cumulative total of 730 days in your lifetime. After 730 days absence from
hospital cover, a 2% loading will be added to your premiums for every 365 days
you don't have it. If you suspend your cover, this period will not be deducted
from the 730 days.
Additional information about Lifetime Health Cover is available in our
FAQ's.
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