If you're under 30 when you purchase your first hospital policy, you may be entitled to a 2% discount on your premiums for each year you’re covered under 30, capped at a 10% discount. If you don’t get health insurance before your 31st birthday, you may have to pay a Lifetime Health Cover (LHC) loading on your premiums, in addition to potentially having to pay the Medicare Levy Surcharge while you're without hospital cover. While LHC loading will carry over between policies and insurers, you should check with your new insurer to determine whether your current age-based discount applies to the policy you’re looking to switch to.