Cancelling your policy

If you cancel your policy and take up private health insurance again in the future, you will likely need to serve all your waiting periods again.

Lifetime Health Cover (LHC) is an Australian Government initiative designed to encourage you to take out hospital cover earlier in life, and to keep it. If you go without hospital cover beyond 1 July following your 31st birthday, you stand to pay an additional 2% loading on premiums for each year you haven’t held hospital cover.

This means if you’re over the age of 31, cancel your cover, and take up private health insurance again in the future, you may need to pay the Lifetime Health Cover loading.

Learn more about the Lifetime Health Cover loading.

Having private health insurance can have advantages at tax time. Depending on your circumstances, you may have to pay the Medicare Levy Surcharge if you cancel your cover.

Learn more about the Medicare Levy Surcharge.

Health Partners offers membership suspensions for people travelling overseas.

Learn more about suspending your cover.