Private Health Insurance Administration Council (PHIAC) Cost Recovery Impact Statement. 16 June 2009 Increase in the Council Administration Levy

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1 Private Health Insurance Administration Council (PHIAC) 16 June 2009 Increase in the Council Administration

2 Table of Contents 1. OVERVIEW 1.1 Purpose 1.2 Background 1.3 Australian Government Cost Recovery Policy 2. POLICY REVIEW Analysis of Activities 3. DESIGN AND IMPLEMENTATION 3.1 Basis of Charging Fee or 3.2 Legal requirements for the imposition of charges 3.3 Costs to be included in charges 3.4 Outline of charging structure 3.5 Summary of charging arrangements 4. ONGOING MONITORING 4.1 Monitoring mechanisms 4.2 Stakeholder Consultation 4.3 Periodic Review 5. CERTIFICATION 6. COST RECOVERY LINKS PHIAC Page 2 of 17

3 1. Overview 1.1 Purpose This cost recovery impact statement (CRIS) is being prepared because of a material amendment to existing revenue arrangements of the Private Health Insurance Administration Council (PHIAC). From July 2009 there will be the following increases in the Council Administration (imposed under the Private Health Insurance (Council Administration ) Act 2003) collected from private health insurers: 2009/10 - $ /11 - $0.150 Total Ongoing Increase $0.800 The Council Administration currently collects $4.435 per annum from industry. This will increase as follows: 2009/10 - $5.085 per annum 2010/11 - $5.235 per annum Total Ongoing $5.235 per annum This is the first increase sought since 2005 and will enable PHIAC to: Meet the increase in operational costs since the last increase in 2005 Undertake additional regulatory requirements as set out in the Private Health Insurance Act 2007 (the Act) Undertake increased supervisory activities as a result of the global financial crisis (GFC). PHIAC s revenue requirements for its general operations are relatively predictable as they are determined by PHIAC s statutory responsibilities rather than outside demand. However, significant variation can occur if PHIAC is required to initiate a regulatory intervention. Demand in Australia for private health insurance is not currently expected to vary greatly and as such, there is some certainty in terms of the requirements of PHIAC under the Council Administration. The purpose of a CRIS is to transparently demonstrate compliance with the Australian Government Cost Recovery Guidelines. 1.2 Background PHIAC is an independent Statutory Authority that regulates the private health insurance industry. PHIAC was established in 1989 as a body corporate under section 82B of the National Health Act 1953 and continues in existence by force of section of the Act. Section of the Act requires PHIAC to achieve a balance between three broad objectives: fostering an efficient and competitive health insurance industry protecting the interests of consumers ensuring the prudential safety of individual registered organisations. PHIAC s functions are set out in section of the Act (see Attachment A). These include monitoring and regulating the private health insurance industry, as well as providing information to Government and other stakeholders on private health insurance membership PHIAC Page 3 of 17

4 and utilisation, risk equalisation and gap cover. The performance of its functions requires the collection of financial and statistical returns from each registered private health insurer on a monthly, quarterly and an annual basis. PHIAC reports under its own outcome in the portfolio budget statements, which is expressed as: The prudential safety of registered private health insurance funds, the best interests of policy holders of those funds, and a competitive level of private health insurance premiums, are efficiently regulated to support a viable industry. PHIAC s activities are almost solely funded by monies collected under the Council Administration. The purpose of the is to meet the general administrative costs of PHIAC (per section of the Act.). The is imposed on registered private health insurers conducting health insurance business. Costs of a very minor nature are recovered through fees charged in relation to the provision of copies of the consumer information brochure Insure? Not Sure?, and for attendance at industry education seminars conducted by PHIAC. 1.3 Australian Government Cost Recovery Policy In December 2002, the Australian Government adopted a formal cost recovery policy to improve the consistency, transparency and accountability of its cost recovery arrangements and promote the efficient allocation of resources. Cost recovery policy is administered by the Department of Finance and Deregulation and outlined in the Australian Government Cost Recovery Guidelines with the Review Schedule outlined in Finance Circular 2005/09. The underlying principle of the policy is that agencies should set charges to recover all the costs of products or services where it is efficient and effective to do so, where the beneficiaries are a narrow and identifiable group and where charging is consistent with Australian Government policy objectives. The policy applies to all Financial Management and Accountability Act 1997 (FMA Act) agencies and to relevant Commonwealth Authorities and Companies Act 1997 (CAC Act) bodies that have been notified, under sections 28 or 43 of the CAC Act, to apply the cost recovery policy. These entities are collectively referred to as agencies for the purposes of the guidelines. In line with the policy, individual portfolio ministers are ultimately responsible for ensuring agencies implementation and compliance with the cost recovery guidelines. PHIAC Page 4 of 17

5 2. Policy Review Analysis of Activities Description of Regulatory Activity PHIAC s work is described in detail in section of the Act (see Attachment A). Essentially, it falls into three main categories, each of which is addressed in more detail further below: 1. ensuring that the private health insurance funds in Australia are well-run and prudentially sound 2. managing the Risk Equalisation Trust Fund (RETF) to ensure that the risks of providing universal access to private health insurance are equitably distributed among the funds 3. ensuring that information which can assist the PHI industry, consumers and government is collected and made available in a timely and reliable way. PHIAC s principal stakeholders are the 37 operating private health insurers, the 44.6% of the Australian population who are covered by private health insurance, and the Government. There has been a significant increase in PHIAC s role with the replacement of the National Health Act 1953 (NH Act) with the Act. The Act replaced the regulatory regime for private health insurance under the NH Act. New powers for PHIAC include (but are not limited to): taking proactive preventative prudential action establishing and enforcing new prudential standards issuing directions to private health insurers to divest health related business approving changes in for-profit status, restructures, mergers or acquisitions, transfer of assets between health insurance funds disqualifying persons as appointed actuaries, directors or senior managers requiring explanations of operations, the provision of information, the production of documents, or the giving of evidence where Council suspects a breach of Council supervised obligations authorising the examination of documents applying remedies for breach of Council supervised obligations including issuing directions and applying for Federal Court orders approving the termination of a health insurance fund and applying to the Federal Court for the winding-up of a private health insurer. The costs associated with the additional regulatory role required of PHIAC as set out in the Act and the increased vigilance required as a result of the GFC, will be met by a proportion of the increase to the Council Administration. PHIAC has already engaged additional personnel to undertake some of the additional tasks: a General Manager and Legal Counsel, plus two additional industry analysts. Further costs have also been borne in relation to increased supervision, information acquisition and analysis. This increased staffing is expected to be maintained to enable PHIAC to continue to meet the expanded role expected of it under the Act. PHIAC Page 5 of 17

6 It is noted that additional funding has been provided by Government to other Australian prudential regulators in the context of the GFC. Likewise, additional funding is required to resource PHIAC s need for increased vigilance at this time. 1. Well-Run and Prudentially Sound To ensure that the health benefits funds conducted by private health insurers are well-run and prudentially sound, PHIAC establishes industry standards and monitors and enforces compliance with them. The standards established under the Act require the funds to retain sufficient capital to ensure that they remain solvent and maintain capital adequacy. Whilst the NH Act limited PHIAC s standard making powers to cover capital adequacy and solvency, the Act empowers PHIAC to set standards across a broader range of prudential issues. An Appointed Actuary standard was established in 2007 (in the Private Health Insurance (Insurer Obligation) Rules 2007) and work is progressing in the areas of corporate governance, fit and proper persons, risk management and outsourcing. These new standards will require additional resourcing to establish, monitor and enforce. As a general proposition, charging the private health insurance industry as a whole for the costs associated with PHIAC s regulatory activities is consistent with policy goals. Further, the is consistent with the approach in the Private Health Insurance (Collapsed Insurer ) Act 2003 under which a levy can be imposed on all private health insurers to help meet the liabilities of an insurer unable to meet its liabilities). Again, as a general rule, an industry levy may promote the consistency and impartiality of the application of regulation. Another important new feature of the Act is the capacity PHIAC now has to intervene on a preventative basis. Section 200 of the Act empowers PHIAC to issue binding directions to private health insurers. PHIAC may take this step where it considers that it will assist in the prevention of a breach of obligations (legislative obligations under the Act) supervised by PHIAC. Funding the monitoring of compliance and any enforcement activity in relation to preventative action, from a whole of industry perspective, is consistent with the equitable and consistent application of regulation. In some cases of intervention, such as making a proper examination of the financial affairs of a private health insurer, the legislation provides quite appropriately that the particular fund involved bears the cost of intervention, rather than the industry as a whole. However, in the case of other interventions and for more systemic issues, it is more appropriate that the industry as a whole bears the cost through the. The application of an industry levy is, for the most part, efficient and effective. PHIAC is also responsible for overseeing certain transactions within the private health insurance industry. These include registration, conversion to a for-profit structure, and mergers and acquisitions; in such cases an application to PHIAC must be made. When considering whether to grant the application, the Council is required to examine the transaction to ensure that the interests of policy holders and insured persons of the health benefits fund are protected. In relation to these transactions, each application is considered separately on its own merits as each will involve its own issues. An industry levy for the processing of these transactions results in a shared burden on industry. Given that a transaction may be applicant-initiated and the applicant would derive a particular benefit, a more equitable approach in such a case PHIAC Page 6 of 17

7 may be the allocation of fees or charges to the applicant for the processing of the transaction. A review of these elements of PHIAC s cost recovery arrangements is currently being conducted. The present is levied by PHIAC on the basis of data already collected by industry and required by the legislation to be provided to PHIAC. Given this existing situation, the proposed increase will place little or no additional regulatory burden on industry. It is, as such, considered efficient and cost effective. 2. Managing the Risk Equalisation Trust Fund (RETF) PHIAC administers the RETF on behalf of the Australian Government. The RETF plays an important role in ensuring that the private health insurance industry operates equitably. In particular, it is a vital part of community rating which ensures that private health insurance is available to all Australian citizens irrespective of, amongst other things, their age or current health status. To ensure that no fund is unduly impacted by costly claims because of the profile of their policy holders, the Act provides that the costs of certain types of expensive claims should be pooled and shared amongst all health benefits funds. PHIAC manages the RETF by ensuring that the claims recorded by the funds are properly registered and that payments into and out of the RETF are accurate and in compliance with legal requirements. The RETF is a whole-of-industry requirement that supports one of the main tenets of private health insurance in Australia - Community Rating. Charging private health insurers separately for this would be inconsistent with the policy outcomes and would be inequitable. Arrangements other than a whole of industry levy could potentially undermine the operation of the RETF which requires a level of compliance by industry. 3. Acquiring and Providing Information PHIAC plays a leading role as a collector and disseminator of information about the private health insurance industry. PHIAC publishes quarterly statistics which provide detailed information about the industry. Also, under section of the Act, PHIAC publishes an annual report on the operations of the registered private health insurers. This report is required to provide information about: (a) premiums payable to the fund (b) other amounts payable to the fund (c) fund benefits payable out of the fund (d) management expenses (e) other amounts payable out of the fund (f) the balance of the fund as at the end of that year (g) details of how the reserves of the fund have been invested (h) such other information as the Minister requires to be included. PHIAC Page 7 of 17

8 As a precautionary response to the declining economic environment, PHIAC has increased both the reporting frequency and the range of data collected from the industry to assist its ongoing monitoring of the prudential position of the industry. PHIAC will assign sufficient resources to ensure that it can respond promptly to any crises and emerging issues in the private health insurance industry. PHIAC s information role is a public good. Aggregated data is made available to the public, industry and Government. Access is via the internet or via and is in essence unlimited. The use of the information does not diminish the consumption by others and it would be difficult and inappropriate to seek to exclude anyone from benefiting from the information. The information collected is a result of PHIAC s myriad responsibilities including monitoring prudential standing and compliance with legislation. PHIAC data is a respected source of information which supports consumer action, industry activity, and Government policy and decision making. It is not desirable to charge for the data. Given the social imperative of healthcare within Australia, charging for the information services provided by PHIAC is counter-productive and mal-aligned with policy. As such, it is appropriate for PHIAC s information function to be funded via an industry levy. Stakeholders As stated above, the key stakeholders relevant to the increase to the Council Administration are the 37 private health insurers. The is imposed directly upon the operating private health insurers and the basis of the calculation is the number of single and joint policy holders per private health insurer (see the Private Health Insurance (Council Administration ) Rules 2007). Consumers of private health insurance (currently 44.6% of the Australian population) are also stakeholders of PHIAC. The many Australians who purchase private health insurance look to PHIAC, among other agencies, to be a guardian of their interests, both as taxpayers and as consumers of private health insurance products. PHIAC will seek ways to ensure that consumers are: well informed about products available in the market aware of options that are available to them if they wish to vary their cover (including by changing insurer) able to understand and can access the complaint mechanisms provided by the Private Health Insurance Ombudsman if they are dissatisfied or wish to air a grievance about their fund. The impact of the increase to the levy on consumers is also expected to be negligible. PHIAC s other key stakeholders are the Government and the Parliament. PHIAC s ability to protect against, or to manage prudential failure, to protect consumers and to provide sound and timely advice to Government and the Parliament are key in this relationship. Ensuring PHIAC is well resourced to meet its tasks is of fundamental importance. As this is an industry levy there is no impact on the Commonwealth budget bottom line. In this context, the will be increased in 2009/10 by $162,500 per quarter (totalling an additional $650,000 in 2009/10). The increase to the will commence from 1 July The is currently $4.435 and will be increased to $5.085 in 2009/10. PHIAC Page 8 of 17

9 In 2010/11 an additional $150,000 will be collected, an additional $37,500 per quarter. This increase to the will commence from 1 July This takes the total collection of the Council Administration to $5.235 from 2010/11. Assuming continued minor increases in the number of policy holders (in line with current trends), it is estimated that the proposed increase of $0.8 over the two years will increase the impost from approximately 55 cents to 61 cents per annum on single policies; and from $1.10 to $1.22 per annum on joint policies. The increase to the will remain below 0.05% of the total industry contribution income. Conclusion Having regard to: the assessment of PHIAC s activities and the application of the Cost Recovery Guidelines the increase in operating costs for PHIAC since the last time the Council Administration was increased in 2005 PHIAC s increased regulatory role required under the Act the need for PHIAC to increase its vigilance, with increased monitoring of the industry, information acquisition, and increased analysis as a result of the GFC the negligible impact of the proposed change on industry and consumers it is clear that the proposed increase to the Council Administration is reasonable, necessary and appropriate and that, at this time, should be cost recovered via an industry levy from the private health insurers. 3. DESIGN AND IMPLEMENTATION 3.1 Basis of Charging Fee or The basis for charging the industry for the costs associated with the activities of PHIAC is a levy imposed on the industry, via the Private Health Insurance (Council Administration ) Act 2003, on all operating private health insurers. 3.2 Legal Requirements for the Imposition of Charges The is imposed under the Private Health Insurance (Council Administration ) Act As previously noted the purpose of the Council Administration is to meet the general administrative costs of PHIAC per section of the Act. Other elements in relation to the administration of the can be found in the Act and the Private Health Insurance (Council Administration ) Rules The proposed increase complies with the requirements of section 7 of the Private Health Insurance (Council Administration ) Act, which includes a requirement that the rate of levy must not exceed $2 per year for policies under which only one person is insured; or otherwise $4 for a financial year. The is compliant with section 55 of the Commonwealth Constitution. PHIAC Page 9 of 17

10 3.3 Costs to be Included in Charges The costs recovered are commensurate with the general operating expenses of PHIAC. PHIAC operates at close to a break-even budget. Without the proposed increase, PHIAC will risk operating at a loss. The covers all costs associated with the operations of PHIAC, other than: the printing costs of a consumer brochure Insure?Not Sure? which is separately recovered on a fee per copy arrangement for copies provided to industry, and industry education programs which are fully cost recovered through the fee charged for attendance. PHIAC Net Operating Results $(m) 2006/ /09 forecast 2009/10 forecast 20010/11 forecast Revenue Expense Net result PHIAC Cost Base $(m) 2008/09 Forecast 2009/10 forecast 2010/11 forecast 2011/12 forecast Direct costs (labour) Indirect costs (supplier) Capital costs Outline of Charging Structure The Council Administration is imposed on private health insurers and is charged having regard to the number of complying health insurance policies. The charges have been previously calculated with regard to PHIAC s forward financial estimates. These charging arrangements will not change with the proposed increase to the. The rate of the Council Administration is set out in the Private Health Insurance (Council Administration ) Rules The rate is set out in a formula which has regard to the number of complying policies covering one person and the number of complying polices covering two or more persons. The increase will be put into place by changing the numerator in the formula. The numerator will be changed: from the current 110,875,000 to to effect the $650,000 increase in the 2009/10 financial year from to for the additional $150,000 for the 2010/11 financial year. PHIAC Page 10 of 17

11 The numerator of will result in the ongoing total increase of $800,000 in the Council Administration. 3.5 Summary of Charging Arrangements The increase to the means it will still remain below 0.05% of the contribution income of private health insurers. The basis of the calculation is the number of single and joint policy holders per private health insurer. Assuming no substantial change to policy holder numbers, it is estimated that the amendments will increase the from approx 55 cents to 61 cents per annum on single policies and from $1.10 to $1.22 per annum on joint policies. On a quarterly basis the $650,000 increase for the 2009/2010 financial year is approximately 1.5 cents extra per single policy per quarter and approximately 3 cents extra per joint policy per quarter. The further increase of $150,000 for the following year is an additional cents per single policy and cents per joint policy per quarter per year. The percent increase in the is as follows: Additional $650,000 a 13% increase Additional $150,000 a further 3% increase. It is important, however, to note that the size of the percentage increase must be assessed against the low base. PHIAC Page 11 of 17

12 Activity 1.1 Prudential Regulation 2.1 Information to Government, Stakeholders and Public 2.2 Risk Equalisation Trust Fund 2.3 Insure? Not Sure? 3.1 Industry Education Program SCHEDULE OF FEES AND CHARGES Method of Recovery Fee for service Fee for service Volume of Activity Regulation of 37 private health insurers Minimum of 7 data sets on quarterly and annual basis $260 transferred between insurers annually 10,000 copies 3 Programs Current Price Cost Recovery Price Total Cost Recovered for Activity ($,000) Total Cost of Activity ($,000) $2.793 $3.793 $3.793 $3.793m $2.261 $31,500 $31,500 $1.261 $1.261 $1.261 $31,500 $31,500 $10,000 $1 per copy $10,000 $10,000 $96,000 $32,000 per program $96,000 $96,000 Total fee for service $106,000 Total recovered $5.085 Total budget funded $0 TOTAL $5.191 PHIAC Page 12 of 17

13 Activity 1.1 Prudential Regulation 2.1 Information to Government, Stakeholders and Public 2.2 Risk Equalisation Trust Fund 2.3 Insure? Not Sure? 3.1 Industry Education Program SCHEDULE OF FEES AND CHARGES Method of Recovery Fee for service Fee for service Volume of Activity Regulation of 37 private health insurers Minimum of 7 data sets on quarterly and annual basis $275 transferred between insurers annually Current Price $2.875 $2.327 Cost Recovery Price $3.875 $1.327 Total Cost Recovered for Activity ($,000) $3.875 $1.327 Total Cost of Activity ($,000) $3.875 $1.327 $32,400 $32,400 $32,400 $32,400 10,000 copies $10,000 $1 per copy $10,000 $10,000 3 Programs $98,000 $32,670 per program $98,000 $98,000 Total fee for service $108,000 Total recovered $5.235 Total budget funded $0 TOTAL $5.343m PHIAC Page 13 of 17

14 Activity 1.1 Prudential Regulation 2.1 Information to Government, Stakeholders, and Public 2.2 Risk Equalisation Trust Fund 2.3 Insure? Not Sure? 3.1 Industry Education Program SCHEDULE OF FEES AND CHARGES Method of Recove ry Fee for service Fee for service Volume of Activity Regulation of 37 private health insurers Minimum of 7 data sets on quarterly and annual basis $280 transferred between insurers annually 10,000 Current Price $2.930 $2.372 Cost Recovery Price $3.930 $1.372 Total Cost Recover ed for Activity ($,000) $3.930 $1.372 Total Cost of Activity ($,000) $3.930 $1.372 $33,000 $33,000 $33,000 $33,000 $10,000 $1 per copy $10,000 $10,000 copies 3 Programs $101,000 $33,670 per program $101,000 $101,000 Total fee for service $111,000 Total recovered $5.335 Total budget funded $0 TOTAL $5.446 PHIAC currently has 26 staff members at a full time equivalent (FTE) of 25. The increase in the will enable PHIAC to increase its staff to 28, (27 FTE) in 2010/11. These staff will support PHIAC s ability to meet its additional requirements under the Act and also to manage the increase workload arising from the GFC. At this stage this is the level of staffing considered appropriate and necessary by the Council. This will be reviewed in due course having regard to the work required under the Act and the continued impact of the GFC. 4. ONGOING MONITORING 4.1 Monitoring Mechanisms PHIAC provides an annual report on its operations to Parliament as required under the Commonwealth Authorities and Companies Act Comments from industry are welcomed in response to this publication, or at anytime. The organisation also reports to the Minister and is monitored by the Department of Health and Ageing. PHIAC Page 14 of 17

15 As mentioned above, PHIAC is currently reviewing elements of its cost recovery arrangements. This review will look at the option of charging fees in relation to particular activities such as the processing of industry transactions including registrations, mergers and acquisitions. 4.2 Stakeholder Consultation Industry and consumers have not been consulted in relation to the proposed increase in the Council Administration. This is a decision of Government having regard to the needs of PHIAC and the importance of appropriately resourcing prudential regulators during the GFC. 4.3 Periodic Review As stated, PHIAC is currently reviewing elements of its cost recovery arrangements. 5. CERTIFICATION PHIAC s Board certifies that the Council Administration and the CRIS comply with the Guidelines. 6. COST RECOVERY LINKS The Australian Government Cost Recovery Guidelines and the accompanying Finance circular can be found at: For proposals that involve regulation or amendment to regulation that affects business, a Regulation Impact Statement is required. Contact the Office of Best Practice Regulation for further information below PHIAC Page 15 of 17

16 Attachment A Functions of the Council General (1) The functions of the Council are: (a) to administer the * Risk Equalisation Trust Fund; and (b) to administer the registration of private health insurers under Part 4-3; and (c) the information collection function under subsection (2); and (d) the compliance functions under subsection (3); and (e) the enforcement functions under subsection (4); and (f) the public information functions under subsection (5); and (g) the agency cooperation functions under subsection (6); and (h) to advise the Minister about the financial operations and affairs of private health insurers; and (i) functions incidental to any other functions of the Council; and (j) any other functions conferred on the Council by this, or any other, Act. Information collection function (2) The information collection function of the Council is to obtain from each private health insurer regular reports about the insurer s operations, including reports supported by actuarial certification. Compliance functions (3) The compliance functions of the Council are: (a) to establish a * solvency standard and a * capital adequacy standard to be complied with by private health insurers, and to give * solvency directions and * capital adequacy directions to private health insurers; and Note: The solvency standard and the capital adequacy standard are established by the Private Health Insurance (Health Benefits Administration) Rules. (b) to exercise powers and discretions under the * prudential standards, and to give directions to private health insurers relating to compliance with the prudential standards; and Note: The prudential standards are established by the Private Health Insurance (Insurer Obligations) Rules. (c) to consider, in accordance with Division 160, whether persons should, or should not, be * appointed actuaries; and (d) to consider, in accordance with Division 166, whether persons should, or should not, be * disqualified persons; and (e) to examine, from time to time, the financial affairs of private health insurers, by the inspection and analysis of the records, books and accounts of the insurers and any other relevant information; and PHIAC Page 16 of 17

17 (f) to review, by carrying out independent actuarial assessment, the value of the assets and liabilities of each * health benefits fund; and (g) if it is necessary, for the purpose of making a proper examination of the financial affairs of a private health insurer, for the Council to incur unusually high costs to impose an appropriate fee on the private health insurer concerned. Enforcement functions (4) The enforcement functions of the Council are: (a) to take action under Part 5-2 to monitor compliance with, and to encourage or compel compliance with, * Council-supervised obligations; and (b) to appoint, under section 214-1, * inspectors for the purpose of investigating the affairs of private health insurers under Division 214, and to exercise other related powers and functions of the Council under that Division; and (c) to appoint, under Subdivision 217-B, persons as * external managers of * health benefits funds, and to exercise other related powers and functions of the Council under Division 217 and 220. Public information functions (5) The public information functions of the Council are: (a) to make statistics, and other financial information, relating to a private health insurer or private health insurers, publicly available in accordance with the Private Health Insurance (Council) Rules; and (b) to collect and disseminate information about private health insurance, for the purpose of enabling people to make informed choices about private health insurance. Agency cooperation functions (6) The agency cooperation functions of the Council are: (a) to cooperate with other regulatory agencies on matters affecting private health insurers and the private health insurance industry generally; and (b) to provide the Private Health Insurance Ombudsman, from time to time, with information in the Council s possession that the Council considers likely to be of use in production of the State of the Health Funds Reports referred to in paragraph 238-5(c). PHIAC Page 17 of 17

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