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Having a baby? Time to re-evaluate your private health cover

28 October 2011 - 4:52pm

Australian birth rates are on the rise again, according to a new survey.

The Australian Bureau of Statistics has reported that a total of 297,900 births were registered in Australia in 2010 - the highest number of births ever registered in a calendar year.

The increase in births now sees Australia's total fertility rate at 1.89 babies per woman.

The average age of a mother is 30.7 years, while fathers averaged 33.1 years - both up slightly on the previous year. This increase in age pushes both parents into the age bracket where Lifetime Health Cover (LHC) applies.

LHC is a government initiative designed to encourage people to take out private health insurance earlier in life and to maintain their cover, and a loading fee of 2 per cent must be paid for every year those over the age of 30 go without cover.

Looking to start a family will also impact on starting a new private health insurance policy or increase your level of cover. The maximum waiting period for obstetrics is currently 12 months.

Health insurance brokers make it possible to compare private cover options in order to find the most appropriate plan for you and your new family.