The Age-based Discount reduces the cost of starting private health insurance for people aged between 18 and 29.
The allowable discount will be two per cent for each year that a person is aged under 30, to a maximum of 10 per cent for 18 to 25 year olds.
When you turn 41, the discount is reduced by 2%. So if you had an existing 10% discount, this reduces to 8% when you turn 41. For each further year, the discount is reduced by a further 2% until it reaches 0%.