Approval for the Termination of Health Benefits Funds - Australian Government

Service summary

You will require this approval if you operate as a registered private health insurer and intend to terminate one or all of your health benefits funds.

A health benefits fund is one established by a private health insurer, which relates solely to a health insurance business or a particular part of that business.

Please consult the Contact Officer for more information.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Eligibility requirements

To be eligible for this approval you must satisfy the Agency that:

  • You are not in the process of being wound up;
  • Each of your health benefits funds comply with prudential standards relating to capital adequacy or solvency that apply in relation to the funds; and
  • In relation to each of the funds, termination of the fund will not result in unfairness to the policy holders of the fund.

Please consult the Contact Officer for more information regarding eligibility requirements.

Duration

Ongoing.

Fees

 TypeDescription
ApplyApplication

No fees are required.

Forms

 Resources
Apply

Approval for the Termination of Health Benefits Funds - Please consult the Contact Officer for information on forms to be submitted.

Administering agency

Australian Prudential Regulation Authority

Act(s) name

Private Health Insurance (Prudential Supervision) Act 2015 (Australian Government)

Contact details

Enquiries
Australian Prudential Regulation Authority

Phone:

02 8037 9015

Toll Free:

1300 558 849

Contact us website:

http://www.apra.gov.au/Pages/Contact-APRA.aspx Opens in a new browser window

Website:

Australian Prudential Regulation Authority Opens in a new browser window

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

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