CTHIn ForceAct
Private Health Insurance Act 2007
34‑5 Increased premiums for person who c34‑5 Increased premiums for person who ceases to have hospital cover after his or her lifetime health cover base day
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34‑5 Increased premiums for person who ceases to have hospital cover after his or her lifetime health cover base day
(1) A private health insurer must increase the amount of premiums payable for *hospital cover in respect of an *adult if, after the adult’s *lifetime health cover base day, the adult ceases to have hospital cover.
(2) The amount of the increase is worked out as follows:
where:
base rate is the *base rate for the *hospital cover.
years without hospital cover is the number obtained by:
(a) dividing by 365 the number of days (other than *permitted days without hospital cover), after the first day on which subsection (1) applied to the *adult, on which he or she did not have *hospital cover; and
(b) rounding up the result to the nearest whole number.
(3) Any increase under this section in the amount of premiums payable for *hospital cover is in addition to any increase under section 34‑1 in the amount of premiums payable for that hospital cover.