Health Insurance (Amendment) Bill 2020

Public bill · Government · Presented

Sets the risk equalisation rates for private health insurance from 1 April 2021, including the credits paid for older, less healthy, or higher-using members, and adjusts the stamp duty charges insurers pay to fund those credits. Its aim is to keep the health insurance market “community rated,” so people pay the same net premium for the same cover regardless of age, gender, or health status, while keeping the scheme broadly cost-neutral overall.

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 persons from 1 April 2021; to amend that Act to specify the amount of the hospital utilisation credit applicable from 1 April 2021; to make a consequential amendment to the Stamp Duties Consolidation Act 1999; and to provide for related matters.

Last updated 11 May 2021