PRIVATE HEALTH INSURANCE INCENTIVES ACT 1997

***** Repealed 1 July 2000 *****

PART 3 - REIMBURSEMENT OF HEALTH FUNDS

Division 8 - How are participating funds reimbursed?

SECTION 8-3  AMOUNTS PAYABLE TO THE HEALTH FUND  

8-3(1)  [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:

(a)  was issued by the health fund; and

(b)  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).

8-3(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:

(a)  the number of persons covered by the policy; and

(b)  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.

8-3(3)  [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.

8-3(4)  [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).

8-3(5)  [Managing Director to determine method of payment]  

The amount must be paid in the way determined, in writing, by the Managing Director.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.