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ComLaw has issued a consolidated National Health Act containing the latest amendments relating to the provision of pharmaceutical, sickness and hospital benefits, and of medical and dental services.
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The Board of Private Health Insurance Administration Council (PHIAC) has approved an application by Medibank Private Limited (MPL) to become a ‘for-profit’ health insurer.
The conversion in status will take effect from 1 October 2009.
Under s.126-42(3) of the Private Health Insurance Act 2007 , PHIAC must approve such an application if it is satisfied, within 30 days after the application is made, that the conversion scheme would not in substance involve the demutualisation of the applicant insurer.
MPL’s Application indicated that the conversion would not change policyholders’ current premiums and entitlements. PHIAC says it was satisfied that the conversion did not constitute a demutualisation.
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The Senate Community Affairs Committee is conducting an Inquiry into the Private Health Insurance Legislation Amendment Bill 2009
If the Bill is passed, the amendments will add a category of “dependent child” under the Private Health Insurance Act 2007 by inserting the definition of “dependent child non-student”. This will allow insurers to charge a different premium for “dependent child non-students” under a family policy. A “dependent child non-student” is a person aged from 18 to 24 (inclusive), who does not have a partner, is not receiving a full time education at a school, college or university and is defined in a private health insurer‟s fund rules.
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The Senate has referred the The Fairer Private Health Insurance Incentives Bill 2009, the Fairer Private Health Insurance Incentives (Medicare Levy Surcharge) Bill 2009 and the Fairer Private Health Insurance Incentives (Medicare Levy Surcharge — Fringe Benefits) Bill 2009 to the Senate Economics Committee for an Inquiry.
The Bills change the rate of the private health insurance rebate and increase the Medicare levy surcharge for higher income earners.
The Committee is due to report by 16 June 2009.
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