Your 30 Year Old Can Now Be Included On The Family Health Policy

Families with health insurance who are looking to cut costs could stand to save thousands by restructuring their health cover, thanks to a little-publicised change from the health funds.

Several health funds have raised the limit that adult children can stay on the family health cover from 25 to 31 and our experts think for big families this could work out at a $5,000 saving.

What you need to know

The federal government raised the age of dependents limit two years ago to help under 30s afford cover but many funds have only just implemented this change.

What's more, a recent survey by seniors publicationYourLifeChoices found 82% of parents were unaware this change was coming.

Many of Australia's biggest insurers - including Medibank, Bupa, and HCF - have already raised their age limit, along with some restricted funds like Teachers' Health.
But... it's up to the funds to decide their upper age limit and other restrictions. At the time of writing, Teachers' Health's wording suggests twentysomethings in a de facto relationship wouldn't be eligible. That's not the case for other funds.
Be aware: each fund is a bit different in how they apply age limits. Some will start charging a fee if the child is over 21, others at 23.
There's a 25% loading fee for the first adult child added to the family health cover. But that's a one-off. There's no further charge for extra children.
- Compare Club's experts have estimated that for families with two of more kids in their 20s, the savings for the children could be anywhere upwards of $3,000.

"This is a way to help offset the cost of living for all ages - even if the kids are paying for their share. Mum and Dad get peace of mind that their kids have a high level of cover and the two kids save hundreds. This is one of the best tactics we’ve seen in recent years that deliver savings for the whole family."

- Andrew Davis, Compare Club CEO.

The bottom line

This rare move from the health industry could help out around 300,000 younger Australians aged 25-30 who already hold health insurance. Go deeper: Andrew Davis has broken down just how the changes could save families thousands in an article for Expert Analysis.

💡 TIP: Now's a good time to review your health insurance. Many of Australia's health insurers are putting up premiums in October and November.