If your name is Matthew or Jessica you might need health insurance
Bupa reveals the 10 most common guys and gals names that will be affected by the LHC in 2017. Is your name on the list?
Is your name Matthew, Matty, Matt, Matto or Jessica, Jessie, Jess, Jesso ... Jessa? If so, your name (or one of those variations) has topped Bupa's list of the most common names of people needing health insurance before 30 June.
With July bearing down on us, time is running out for those who've turned 31 in the last year to take out private health insurance to avoid paying the lifetime health cover (LHC) loading in the future. It's also the last chance for you to snag one of the end of financial year (EOFY) promotions available from many health funds in Australia.
If you've turned 31 in the last 12 months and you don't have private hospital insurance, from 1 July if/when you do decide to take out cover, your premiums will rise by 2% for every year you are over the age of 30.
Bupa analysed the names of those born in late 1985 and early 1986 and created a list of the most common names of those likely to be affected by the LHC from 30 June 2017.
“We know that in Australia at that period there were approximately 245,000 people born and we identified the most common names by looking at Births, Deaths and Marriages information,” said Dr Dwayne Crombie, Bupa Health Insurance managing director.
The top 10 names for both men and women born in that timeframe are:
Source: Bupa/Based on most common birth names 1986, Births, Deaths & Marriages
“It shows that for men, Matthew, Daniel and Michael are most likely to need to sign up for private health insurance this year to avoid the Lifetime Health Cover loading, while for ladies, it’s Jessica, Sarah and Rebecca that need to act,” Crombie said.
Deals vary from frequent flyer bonus point promotions to extras waiting period waivers, so make sure you compare all your options.
Compare your health insurance options this EOFY