Discounted health insurance for under 30s
How will the discount impact my premium?
| Age when you first purchase an eligible hospital product offering an age-based discount |
% discount that a health insurer can offer |
|---|---|
| 18-25 years old | 10% |
| 26 years old | 8% |
| 27 years old | 6% |
| 28 years old | 4% |
| 29 years old | 2% |
| 30 years old | 0% |
How does the youth discount on health insurance work?
The discount will be available on selected GMHBA hospital products and is available to new and existing members.
You can retain your age-based discount until you’re 41 providing you remain on a hospital product that’s eligible for the discount. These discounts will then be gradually phased out after you turn 41.
To receive the discount, new eligible members can sign up to one of our age-based discount hospital products and it will be applied automatically to your premium. If you are an existing GMHBA member aged 18-29, you will need to switch to one of our hospital products that offer age-based discounts to be able to receive the discount.
Why has GMHBA chosen to offer discounts for under 30s?
Young Australians under the age of 30 have some of the lowest rates of taking out private health insurance. Encouraging more young Australians to take out health insurance, if they can afford it, supports the viability and sustainability of the private health insurance system for all Australians.