No rebate for lifetime health cover loading

From 1 July 2013, the private health insurance rebate will no longer be paid on any lifetime health cover loading applied to the cost of a private health insurance policy for lifetime health cover.

Lifetime health cover is not paid by all individuals. It is a penalty that applies where an individual has not taken out and maintained private health insurance from the year a person turns 31.

Media release

For more information, refer to media release number 099-2012 issued by the Treasurer and Deputy Prime Minister.

Legislation and supporting material

Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Bill 2012 and the Explanatory Memorandum were tabled in parliament on 28 November 2012.

More information For more information, refer to 2012 Mid year economic fiscal outlook (PDF 1.5MB, page 46).