PHI 68/16 2017 Premium Round Applications

Page last updated: 01 September 2016

PHI 68/16 - 2017 Premium Round Applications (PDF 395 KB)

This circular provides information in relation to the 2017 private health insurance premium round. Arrangements for the application process requesting premium rate changes have been determined in consultation with the Australian Prudential Regulation Authority (APRA).
The Department of Health coordinates the annual premium round and provides all relevant information to the Minister to determine if the premium increases being requested are not contrary to the public interest pursuant to section 66-10(3) of the Private Health Insurance Act 2007. The Department of Health will consult with APRA throughout the process. APRA’s role in relation to the premium round is to advise the Department of Health whether premium increase requests from PHIs would result in an adverse prudential outcome for individual PHIs.

Timetable

Private health insurers requesting changes to premiums must submit an application in the approved form by no later than 3:00pm Friday 11 November 2016.

The proposed timetable for the premium round is:
11 November 2016Deadline for applications
16 January 2017Deadline for any revised submissions
Mid February 2017Insurers notified of outcome
1 April 2017Premium changes take effect

Submission of Applications

Applications must be submitted via the PHIpremiumround@apra.gov.au inbox. APRA will provide the applications to the Department of Health.

Form of Application

Each application must be in the approved form. Attached to this circular is:
Applications not consistent with the approved form cannot be accepted for determination under section 66-10(1)(a) of the Private Health Insurance Act 2007.