You can beat lifetime health cover loading



How does it work?

HEALTHY AND SINGLE

Bruce, born 1970

From age 31: saves $9120 by not buying hospital insurance for 15 years.

Age 46: gets top cover with no excess before he goes to hospital for heart surgery. Pays 30% LHC loading for the next 10 years.

Age 48: changes to top cover with $500 excess to save on premiums.

Age 56: the LHC loading has cost bruce $7470, making him $1650 better off than if he'd bought insurance at 31.


NEW PARENTS

Cynthia and Kyle, both born 1981

From age 31: save $5105 by not buying hospital insurance for four years.

Age 35: get couples top cover with no excess when Cynthia goes to hospital for her pregnancy. Pay 8% LHC loading for the next 10 years. 

Age 37: drop down to budget cover to save on premiums.

Age 45: the LHC loading has cost Cynthia and Kyle $2382 over 10 years, making them $2723 better off than if they'd bought insurance at 31.


Back to main article: How you can pay the LHC loading and still be better off



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