nib extends maximum age of non-student dependents

nib extends maximum age of non-student dependents | Insurance Business Australia

nib extends maximum age of non-student dependents

nib Group (nib) has increased the maximum age of non-student dependents in private health insurance (PHI) from 24 to 31-years-old, effective October 1, 2022. The change aims to provide more families with greater peace of mind and keep health cover affordable and accessible for members.

“This reform aims to provide greater access to, and improved affordability of, health insurance for young people,” said Ed Close, chief executive, Australian Residents Health Insurance (arhi), at nib. “While the changes are voluntary for health insurers, nib is eager to introduce the reforms, beginning with extending the age of non-student dependants to 31.”

Read more: nib members to receive $40 million in claims savings

If nib members choose to continue their health cover after their 31st birthday, they can take out a policy and avoid the lifetime health cover loading, Close explained.

Aside from extending the maximum age of non-student dependents, nib continues to provide value for cover for its younger members by offering a range of aged-based discounts and health and lifestyle rewards for all members – including up to 10% off hospital cover for those aged between 18 and 29, and discounts on some of the biggest brands across Australia. To date, nib members have saved around $1.3 million through discounts on groceries, fuel, and other everyday expenses.

“It's our way of helping members get more out of their health cover and save on everyday items,” Close said.

nib will contact eligible members about cover changes. Members can also visit the nib website to find out more about the changes, including eligibility.