Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015 (87 of 2015)

Schedule 1   Consequential amendments

Part 1   Amendments

Division 1   Main amendments

Private Health Insurance Act 2007

64   After section 131-15

Insert:

131-20 Risk equalisation jurisdictions

(1) An area is a risk equalisation jurisdiction if the Private Health Insurance (Health Benefits Fund Policy) Rules so provide.

(2) The Private Health Insurance (Health Benefits Fund Policy) Rules may specify circumstances in which a private health insurer may (despite subsection 23(2) of the Private Health Insurance (Prudential Supervision) Act 2015) have more than one *health benefits fund in respect of a particular *risk equalisation jurisdiction.

131-25 Operation of health-related businesses through health benefits funds

If a private health insurer has a *health benefits fund in respect of its *health insurance business and some or all of its *health-related businesses, the insurer must comply with any requirements specified in the Private Health Insurance (Health Benefits Fund Policy) Rules relating to how the health-related businesses are to be conducted.