HCF has announced it will increase the age adult dependents can stay covered under family policies from 25 to 31.
The change, which will take effect from 1 September, was one of the multiple reforms aimed at boosting participation in private health insurance.
Student dependents and adult children who rely on parents for maintenance and support and are single can remain on their family's cover.
HCF CEO Sheena Jack said it was important that healthcare continued to stay affordable for families.
“We know that cost of living pressures are mounting for all Australian families and that means the typical household dynamic is changing,” said Ms Jack.
“More and more young adults, particularly in capital cities, are staying at home with their parents to help ease the burden of cost pressures while studying or establishing early careers. This age increase is one way that we can help make healthcare more affordable for those younger members.”
“People are more aware than ever of the importance of protecting their health, while also seeking great value cover. With this change, we’re pleased that we’ll now be able to further help support more Australians with peace of mind when it comes to their health,” added Ms Jack.