Lifetime Health Cover loading
6 weeks free + skip 2 & 6 month waits on extras* when joining on combined cover.
*For new members who have not been a member during the last 12 months, joining on combined hospital and extras cover, paying by direct debit. Must pay first month to receive offer. Other waits (including hospital waits), annual and sub limits apply. Extras claims made with a previous fund count towards annual limits. Offer only available via Frank website or phone joins. Not available with any other offer or Frank OVHC.
Lifetime Health Cover Loading (LHC) explained
Turning 31 and still don’t have hospital cover?
Well, here's the deal: Lifetime Health Cover (LHC) loading is a thing the Aussie Government put in place to get you to take out hospital cover sooner rather than later.
If you’ve already taken out hospital or hospital and extras cover before turning 31, and plan to keep your hospital cover forever, you can stop reading now. LHC won’t apply to you. For everyone else, keep scrolling to see how it works.
Ready to join?
Still not convinced? We get it, LHC isn't fun but for every year you don’t have hospital cover after 1 July following your 31st birthday, you’ll cop a 2% loading on your hospital premiums (when you decide to take out cover). The longer you wait, the more you pay (capped at 70%, or 65 years of age).
You’ll be happy to learn that the LHC Loading doesn't last forever. If you’ve paid the Lifetime Health Cover Loading for 10 continuous years, without a break in cover for longer than 1094 days or more, it no longer applies.
Check out this handy calculator to understand what LHC you may pay on top of your premium.
|
On 1 July prior to taking out hospital cover if you were: |
You’ll pay an LHC loading on your hospital premiums of: |
|
< 31 years old |
No loading applies |
|
31 years old |
2% |
|
32 years old |
4% |
|
33 years old |
6% |
|
34 years old |
8% |
|
35 years old |
10% |
|
36 years old |
12% |
|
37 years old |
14% |
|
38 years old |
16% |
|
39 - 65 years old |
Continues to increase by 2% for each year. Loading is capped at 70% |
Check out some of Frank's Favs
Basic Accident Boost Hospital
Bronze Hospital
Bronze Plus Hospital
* The price shown is per week and applies to a Single, aged 30, living in VIC. It excludes LHC loading and includes a Base Tier Government Rebate
| Extras services (when included on cover) |
|---|
| All extras benefits except as specified below. Waiting Period: 2 Months |
| Optical, home and domestic aids and medical aids. Waiting Period: 6 months |
| Major dental services (including full & partial dentures, orthodontics, crown & bridgework, endodontic services such as root canal, gold fillings, indirect restorations, surgical extractions of a tooth/teeth including wisdom teeth). Waiting Period: 12 Months |
| Health appliances including nebuliser pump, blood glucose monitor, pressure garments, sleep apnoea monitor, extremity pump, hearing aids, orthopaedic appliances (GMHBA approved), prostheses (GMHBA approved non-surgical), tens monitor, podiatry surgical procedures and orthotic appliances (foot). Waiting Period: 12 Months |
| Hospital services (when included on cover) |
|---|
| Accidents - bodily injuries resulting from accidents which occur after the date of joining GMHBA or upgrading to a higher cover. Waiting Period: No |
| Obstetrics and maternity. Waiting Period: 12 months |
| Pre-existing ailment, illness or condition (other than psychiatric, rehabilitation and palliative care). Waiting Period: 12 months |
| Any other benefit for hospital (or hospital substitution) treatment. Waiting Period: 2 months |
A pre-existing condition is one where signs or symptoms of your ailment, illness or condition, in the opinion of a medical practitioner appointed by GMHBA (not your own doctor), existed at any time during the six months preceding the day on which you purchased your hospital insurance or upgraded to a higher level of hospital cover and/or benefit entitlement.
A special waiting period applies to obtain benefits for hospital treatment for new members who have pre-existing conditions. The waiting period also applies to existing members who have recently upgraded their level of hospital cover. If the ailment, illness or condition is considered pre-existing:
New members
New members must wait 12 months for any hospital benefits (other than psychiatric, rehabilitation and palliative care).
Existing members (transferring or upgrading)
Members transferring/upgrading to a higher hospital cover must wait 12 months to get the higher hospital benefits (other than psychiatric, rehabilitation and palliative care).
Existing members (with at least 12 months membership)
Existing members with at least 12 months membership in total across their old and new cover are entitled to the lower benefits on their old cover.
Silver Hospital cover provides the same single room coverage as Gold Hospital, but co-payments of $100 per day up to a maximum of $700 per admission apply. Co-payments are not the same as hospital excess. Please note: Some private hospitals only have single rooms and co-payments will apply.
Co-payments do not apply.
Why Frank?
- We make health insurance ridiculously easy. No confusing insurance jargon. Just the good stuff, laid out nice and easy.
- Easy claiming. You can claim online through our easy-to-use app.
- Great service. Our locally based team is available via phone or webchat to answer any questions.
- Keeping it real since 2009. We’ve been doing things differently since day one—no frills, just honest, straightforward health insurance.
- Not-for-profit at heart. We’re all about putting members first, not profit.
6 weeks free + skip 2 & 6 month waits on extras* when joining on combined cover.
*For new members who have not been a member during the last 12 months, joining on combined hospital and extras cover, paying by direct debit. Must pay first month to receive offer. Other waits (including hospital waits), annual and sub limits apply. Extras claims made with a previous fund count towards annual limits. Offer only available via Frank website or phone joins. Not available with any other offer or Frank OVHC.
