PHI 06/15

This circular issued by the Private Health Insurance Branch contains information about the Private Health Insurance Administration Council (PHIAC)

Page last updated: 21 January 2015

Printable version of PHI 06/15 (PDF 343 KB)

21 January 2015

Private Health Insurance Administration Council (PHIAC) - Agency Transfer Consultation Session 2

In accordance with the 2014-15 Budget measure: Smaller Government - additional reductions in the number of Australian Government bodies, the prudential regulation of the private health insurance industry will transfer from the PHIAC to the Australian Prudential Regulation Authority.

These changes will be made through the Private Health Insurance (Prudential Supervision) Bill 2015 (the Bill). An exposure draft of this Bill was made available for public consultation on 12 January 2015, with submissions to close on 30 January 2015 (see PHI 01/15). The attached document summarises the key differences between the existing and the new regime.

The Department of Health and Treasury will host a consultation session with industry to provide opportunity to address issues raised in submissions and to raise any additional matters not captured in the submissions. The session will be held as follows:

Date: Thursday 29th January 2015
Arrivals: 13:00
Meeting: 13:30 – 16:30
Venue: Stamford Plaza Sydney Airport
Cnr Robey and O'Riordan Streets
Mascot NSW

If you would like to attend the session please contact Sam Franks on Ph: (02) 6289 7583 or by email: Sam Franks by COB Tuesday 27 January 2015, advising the names of those attending. Please note that as spaces are limited at this session we can only accommodate two representatives from each organisation.

If you require further information please telephone: (02) 6289 9853/24 hr answering machine or email the enquiry to Private Health Insurance Branch.

For more information visit 2015 Private Health Insurance (PHI) Circulars.

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