Private Health Insurance Act 2007
CHAPTER 3
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COMPLYING HEALTH INSURANCE PRODUCTS
PART 3-3
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REQUIREMENTS FOR COMPLYING HEALTH INSURANCE PRODUCTS
Division 66
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Community rating requirements
SECTION 66-5
PREMIUM REQUIREMENT
66-5(1)
For the purposes of paragraph 66-1(1)(d) , the premiums payable under an insurance policy for a period meet the premium requirement in this section if the amount of premiums payable under the policy for the period: (a) is the amount specified for the [*]
66-5(2)
A discount is allowed if: (a) it is for a reason in subsection (3) ; and (b) the discount is also available for that reason under every policy in the [*]
66-5(3)
A discount may be for any of these reasons: (a) because premiums are paid at least 3 months in advance; (b) because premiums are paid by payroll deduction; (c) because premiums are paid by pre-arranged automatic transfer from an account at a bank or other financial institution; (d) because the persons insured under the policy have agreed to communicate with the private health insurer, and make claims under the policy, by electronic means; (e) because a person insured under the policy is, under the [*]
For the purposes of paragraph 66-1(1)(d) , the premiums payable under an insurance policy for a period meet the premium requirement in this section if the amount of premiums payable under the policy for the period: (a) is the amount specified for the [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
product subgroup to which the policy belongs in the most recent approval under section 66-10 ; or (b) is the proportion, for the period, of that amount; or (c) would be the amount mentioned in paragraph (a) or (b) except that a different amount is payable:
(i) because of the application of Part 2-3 (lifetime health cover); or
(ii) because of a discount or discounts allowed under subsection (2) , if the total percentage discount (not counting discounts available for the reason in paragraph (3)(f) ) does not exceed the percentage specified in the Private Health Insurance (Complying Product) Rules as the maximum percentage discount allowed; or
(iii) because of a combination of subparagraphs (i) and (ii) .
66-5(2)
A discount is allowed if: (a) it is for a reason in subsection (3) ; and (b) the discount is also available for that reason under every policy in the [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
product; and (c) if there are different percentage discounts available for that reason - the same percentage discount is available on the same basis under every policy in the product; and (d) any other conditions set out in the Private Health Insurance (Complying Product) Rules are met.66-5(3)
A discount may be for any of these reasons: (a) because premiums are paid at least 3 months in advance; (b) because premiums are paid by payroll deduction; (c) because premiums are paid by pre-arranged automatic transfer from an account at a bank or other financial institution; (d) because the persons insured under the policy have agreed to communicate with the private health insurer, and make claims under the policy, by electronic means; (e) because a person insured under the policy is, under the [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
rules of the private health insurer, treated as belonging to a contribution group; (ea) because a person insured under the policy is entitled to an age-based discount in the circumstances set out in the Private Health Insurance (Complying Product) Rules; (f) because the insurer is not required to pay a levy in relation to the policy under a law of a State or Territory; (g) for a reason set out in the Private Health Insurance (Complying Product) Rules.
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