Lifetime community rating is a system whereby the premium that individuals pay for health insurance reflects the age at which they take out private health insurance. Late entry loadings are applied to the premiums of those who join the health insurance market at age 35 or over.
If you are purchasing a private health insurance policy for the first time at age 35 years or older you may pay a 2% loading on top of your premium for every year you are aged over 34 up to a maximum of 70%.