The Private Health Insurance Administration Council has published its Annual Regulatory Plan 2013-14
The Plan includes:
- Amendment to the Private Health Insurance (Council Administration Levy) Rules 2007 from 1 July 2013 to increase the Council Administration Levy primarily to recover costs from PHIAC’s new role as the primary source of advice to the Minister for Health on premium applications.
- Amendments to the Private Health Insurance (Insurer Obligations) Rules 2009 to introduce a risk management standard for private health insurers (this is expected to occur late in 2013).
- Review of the Solvency and Capital Adequacy Standards included in the Private Health Insurance (Health Benefits Fund Administration) Rules 2007 (Implementation is expected in 2014, with transitional provisions if required).