***** Repealed 1 July 2000 *****
PART 3 - REIMBURSEMENT OF HEALTH FUNDS
Divisions 6 to 7 - not reproduced.
Division 8 - How are participating funds reimbursed?
AMOUNTS PAYABLE TO THE HEALTH FUND
[Amounts payable for month]
Subject to subsection (2), the amount payable to the health fund in respect of the month is 1/12 of the sum of the annual incentive amount (see section 5-3) for each private health insurance policy that:
was issued by the health fund; and
on the first day of that month, covers a person who is, on that day, a participant in the incentives scheme in respect of that policy (see section 5-2).
[Annual incentive amounts]
Subject to subsection (3), the annual incentive amount for a private health insurance policy in respect of which a person is a participant in the incentives scheme is taken, for the purposes of subsection (1), to be the amount that would be the annual incentive amount if:
the number of persons covered by the policy; and
the number of such persons who are dependent children;
were as stated in the most recent application under section 4-3 made by the person in respect of the policy.
[Subsec (2) amount must be less than sec 5-3 amount]
Subsection (2) only applies if the amount worked out under that subsection is less than the annual incentive amount under section 5-3.
[Time for payment]
The amount must be paid to the health fund on or before the 15th day of the month (or, if that day is not a business day, the first business day after that day).
[Managing Director to determine method of payment]
The amount must be paid in the way determined, in writing, by the Managing Director.