EOFY health insurance check up

MANY Australians are confused about health insurance, including what lifetime health cover is and the impact it can have.

Those who have entered their 30s have been warned to pay extra attention before June 30 because they could end up getting slugged with hefty costs later in life.

An independent survey commissioned from financial comparison website comparethemarket.com.au revealed almost half of all respondents don’t know what LHC means. About 19 per cent of people think it’s tied to income and 16 per cent believe it is linked to extras cover – both of which it is not.