APRA releases update on private health insurance reform

APRA releases update on private health insurance reform | Insurance Business

APRA releases update on private health insurance reform

The Australian Prudential Regulation Authority (APRA) has released its consultation on further changes to private health insurance reforms data collection.

On March 31, the regulator announced that it would delay the implementation of HRS 605.0 as a way to support private health insurers (PHIs) in their battle against the impacts of COVID-19.

Now, APRA and the Department of Health have proposed small amendments to HRS 605.0 following feedback from the industry as PHIs prepare for its implementation:

  • Removing co-payment from Tables 2 and 3
  • Adding a dimension (column) to Table 4 to separately collect psychiatric services
  • Updating relevant definitions

APRA will collect data on behalf of the Department of Health, on private health insurance reform measures announced by the department in October 2017, with the first collection of data most likely for the quarter ending March 2021.