Medibank and ahm extend age for adult dependants to 31

Medibank and ahm have today announced they will extend the age of adult dependants from 25 to 31 to ensure the continuity of private health insurance cover for young Australians.

Effective from 18 August 2022, adult dependants can remain on their parent’s Medibank and ahm private health insurance policies until they turn 31, when the Lifetime Health Cover (LHC) loading commences.

Medibank Group Executive Milosh Milisavljevic said the change will ensure more younger people remain in private health insurance, as well as help with cost-of-living pressures.

“We want younger customers to remain in private health insurance to ensure they are covered for the unexpected, while also taking some of the pressure off the public health system,” Mr Milisavljevic said.

More and more people are seeing the value of private health insurance, including younger Australians. However, we recognise that cost of living is a real issue at the moment, so for young adults living at home who aren’t ready to take out their own policy when they turn 25, this change means they won’t have to.

“Having the policy extend to age 31 when the Lifetime Health Care loading takes effect, gives them a clearly defined date to make a decision about their own private health insurance needs.

“It also gives parents peace of mind that their children are continued to be covered under their health insurance policy for a little longer,” he said.

To ensure private health insurance is accessible for younger customers, Medibank also offers a youth discount that remains in place until the age of 40, if they obtain their own cover before the age of 30.

“With more younger people joining Medibank, we’re really focused on ensuring we have the right products that cover things that are important to them, such as mental health support, discounted gym memberships, as well as rewarding them for staying healthy with our Live Better program.”

Medibank and ahm encourage those customers with adult dependants between the ages of 25-30 to consider whether returning to their parent’s cover works for them.

The latest Census data revealed there are 456,543 people aged between 25 and 34 living with their parents – an increase of 17 per cent since the previous Census (2016).