Making Cents: How to minimise LCR loading on health insurance

Number 1, your policy should cover all public and all private hospitals.

Q. We are a couple who were severely stretched at times in the aftermath of the 2008 recession and couldn't afford health insurance. We are now in a better position financially and keen to get cover but worried about the impacts of the lifetime community rating. I'm 50 and my wife is 42, is there anything we can do to reduce the loadings if we sign up for health cover?

Since 2015, if you are over the age of 34 when you first take out health insurance, you will have to pay extra for your cover under the Lifetime Community Rating (LCR) loadings.