What does a person need to do to lock in base rate premiums under Lifetime Health Cover?
Under Lifetime Health Cover, if a person takes out hospital cover before they turn 31, as long as they maintain their cover, this will lock in that person’s certified age of entry at 30. People who already had hospital cover with a registered health fund on 1 July 2000 did not have to do anything. Their fund automatically gave them a certified age at entry of 30. People who were born on or before 1 July 1934 do not have to do anything either, even if they do not already have private health insurance. People in this age group are able to join a registered health fund at any time during the rest of their lives and pay the base rate.
