Health Insurance (Amendment) Bill 2016

Public bill · Government · Presented

Raises the risk equalisation payments in health insurance from 1 April 2017 so insurers that cover older or less healthy customers receive more support from the shared fund, and the stamp duty collected from insurers is adjusted to pay for it. It also changes the rules on when an insurer can withdraw or refuse to renew a policy, updates how “reasonable profit” is judged for the scheme, and adds a requirement that the Health Insurance Authority and the Minister for Health consider a minimum gap between claims costs for different age groups. The main effect is to keep private health insurance more evenly priced and to make the funding system easier to administer.

Formal long title

Bill entitled an Act to amend the Health Insurance Act 1994 to specify the amount of premium to be paid from the Risk Equalisation Fund in respect of certain classes of insured person from 1 April 2017; to amend that Act to further specify the circumstances in which a registered undertaking may terminate or refuse to renew a health insurance contract; to make certain other amendments to that Act; to make a consequential amendment to the Stamp Duties Consolidation Act 1999; and to provide for related matters

Last updated 2 July 2021