11BRequirements for age‑based discount policy to be complying health insurance policy

11B Requirements for age‑based discount policy to be complying health insurance policy

For paragraph 63‑10 (g) of the Act, an insurance policy must not provide for an age‑based discount (the discount) unless: (a) the policy covers: (i) hospital treatment; or (ii) hospital treatment and general treatment; and (b) the discount will be a reduction in the amount that would otherwise be payable by the person for the policy, equal to the dollar amount calculated in accordance with rule 11C; and (c) the discount will apply to each person insured under the policy who, on the discount assessment date for the person: (i) was within one or more ranges of ages, between 18 and 29 (inclusive), that are specified in the policy as eligible for the discount; and (ii) was not a dependent person under the policy; and (d) while age‑based discounts are available under the policy, the discount will continue to apply until it is reduced, in accordance with rule 11C, to zero in relation to each such person insured under the policy; and (e) the policy states whether it is a retained age‑based discount policy.

Note: For paragraph (c), an insurer is not required to provide discounts for all ages between 18 and 29 (inclusive).