Private Health Insurance Act 2007
A private health insurer must increase the amount of premiums payable for [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
hospital cover in respect of an [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
adult if, after the adult ' s [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
lifetime health cover base day, the adult ceases to have hospital cover.34-5(2)
The amount of the increase is worked out as follows:
Years without hospital cover
×
2%
×
[*]
To find definitions of asterisked terms, see the Dictionary in Schedule
1
.
where:
base rate
To find definitions of asterisked terms, see the Dictionary in Schedule
1
. To find definitions of asterisked terms, see the Dictionary in Schedule
1
.
is the
[*]
years without hospital cover
is the number obtained by:
(a) dividing by 365 the number of days (other than [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
permitted days without hospital cover), after the first day on which subsection (1) applied to the [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
adult, on which he or she did not have [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
hospital cover; and(b) rounding up the result to the nearest whole number.
34-5(3)
Any increase under this section in the amount of premiums payable for [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
hospital cover is in addition to any increase under section 34-1 in the amount of premiums payable for that hospital cover.
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