On 13 October 2017, the Minister for Health, the Hon Greg Hunt MP, announced a package of reforms to private health insurance.
To ensure that the Department of Health (the department) can accurately monitor and analyse the effects of the reforms to consumers and on private health insurers, the department has requested the Australian Prudential Regulation Authority (APRA), under the Financial Sector (Collection of Data) Act 2001, to collect relevant and appropriate data from private health insurers.
The department is formally requesting data to be collected on the following 5 reform measures:
- Supporting mental health
- Gold/silver/bronze/basic product categories
- Increasing maximum excess levels
- Discounts for 18 to 29 year olds
- Improved access to travel and accommodation benefits.
The department will implement an Excel-based interim reporting process for the 12 months from 1 April 2019 to allow sufficient time for APRA and insurers to adapt existing systems to allow for the formalisation of the data collection.
The interim reporting period also aligns with the product category transition period.
In order to facilitate the above, the department has developed a draft Excel template and is seeking comments on this template from all insurers, via email at PHI@health.gov.au, by 5pm Friday 8 February 2019.