business.gov.au

Approval for the Termination of Health Benefits Funds - Australian Government

Description

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 established by a private health insurer, which relates solely to a health insurance business or a particular part of that business.

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
  • in relation to each of the funds, termination of the fund will not result in unfairness to the policy holders of the fund.

Duration

Ongoing

Fees

Fees Details for this service in table format.

Task Type Business Structure Description
Apply Application All

No fees are required.

Forms

Act(s) name

Private Health Insurance (Prudential Supervision) Act 2015 Australian Government

Administering agency

Australian Prudential Regulation Authority

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.