22 June 2017 - The recent 4.8% hike in health insurance premiums stung all Australian policyholders, but spare a thought for Kate Tierney who has to pay an extra 12 per cent on top of the new rate.

Ms Tierney didn't take out hospital cover until she was 37, meaning she has to pay a Lifetime Health Cover loading of 12% – that's 2% for each year she was without cover from 31.

"In my early 30s I didn't want to spend money on insurance, and to be honest, I didn't understand enough about the loading to let it bother me," said Ms Tierney, mother of two-year-old Khloe.

"Paying the loading is a pain. If people feel they don't need it, they shouldn't be penalised."

Read Sydney Morning Herald article