Health Insurance (Amendment) Bill 2022

Public bill · Government · Presented

Changes the health insurance risk equalisation scheme, which helps keep private health insurance prices more even by compensating insurers for older and less healthy customers. It sets the credit amounts payable from 1 April 2023, updates the stamp duty charges that fund those payments, extends the scheme’s legal timetable if needed, and gives the Health Insurance Authority stronger powers to appoint and use authorised officers. It matters because it supports the stability of the private health insurance market and helps ensure the scheme continues to work as intended.

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 2023; to make certain other amendments to that Act, including making further provision for the appointment and powers of authorised officers; to make a consequential amendment to the Stamp Duties Consolidation Act 1999; and to provide for related matters.

Last updated 11 September 2024