Skip to content
Healthslips logo
Greenslips logo
advertisement ad placement

Personalise your health insurance price

The Australian Government encourages you to take out private health insurance through the Government Rebate, Age-based Discount and Lifetime Health Cover Loading. It is important to personalise your price.

Your health insurance price may decrease based on the Government Rebate & Age-based Discount or increase based on the Lifetime Health Cover Loading

You need to calculate them to personalise your prices

What is the
Government
Rebate?

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:

  • Hospital Cover
  • Extras Cover
  • Ambulance Cover.


Your Rebate depends on your:

  • single, couple or family status
  • age
  • income
  • number of dependent children.
Read more

What is the
Age-based Discount?

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.

Read more

What is the Lifetime
Health Cover Loading?

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.

Read more

We promise

Compare Every InsurerCompare all Australian health insurers and every policy
No Commercial BiasIndependent prices and information, so you can make the right choice
Cheapest Price GuaranteedLook no further, no need to shop around
Free Open AccessCompare without entering your name, email or phone number
How the Australian Government encourages you to take out private health insurance

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.

Discounts on private health insurance for people earning under a certain amount

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).

Incentives to take out Hospital Cover in your 20s

If you are under 30, you may be able to save up to 10% on Hospital Cover through the Age-based Discount (Discount).

Penalties if you take out Hospital Cover after the age of 30

If you postpone taking out Hospital Cover until you are over 30, you are likely to have to pay the Lifetime Health Cover Loading (Loading). This will increase the price of health cover at 2% per year up to a maximum of 70%.

Penalties if you earn over a certain amount and do not take out Hospital Cover

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.

calculate your cheapest health insurance

Our True ComparisonsTM compare every insurer and every policy with no commercial bias and guarantees you the cheapest price.

What greenslips.com.au customers say

Quick and easy comparison.Metter, September 2022
Easy to use and accurate.Michael, September 2022
Such a great service, no need to check numerous different websites to gain the information.Naisha, September 2022

Learn more about greenslips.com.au

advertisement
calculate your cheapest health insurance calculate now