Health Insurance (Amendment) Bill 2023

Public bill · Government · Presented

Changes the health insurance risk equalisation system from 1 April 2024 by updating the credits paid to insurers for older, sicker and higher-cost customers, and by revising the stamp duty charges that fund those credits. It also updates the hospital utilisation credit and the rules for high-cost claims, so the scheme stays aligned with current health insurance costs and continues to support a community-rated market where people pay the same price for the same policy.

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 2024; to make other amendments to that Act to specify the amount of the hospital utilisation credit applicable from 1 April 2024 and to specify the amount and percentage applicable for the purpose of definitions relating to high cost claims; to make a consequential amendment to the Stamp Duties Consolidation Act 1999; and to provide for related matters.

Last updated 30 August 2024