Private Health Insurance – Penalties
Over 35s with no private health insurance to face higher prices if and when they take out policy. From 1 May, lifetime community rating (LCR) will be applied to individuals taking out health insurance for the first time after the age of 35. A loading rate of 2% on top of the premium for every year an individual is aged over 34 will be introduced.
For more details on this government initiative, please click here.
If you are reviewing your organisation's private health insurance policy and want to learn more about the new measures, the following Department of Health FAQs may be of interest to you.