Quick Links
Circular No 103
General PHIAC Circulars
Circular No 103
Gayle Ginnane (02) 6285 3132
email: ginnane@phiac.org.au
9 May 2000
HEALTH BENEFITS REINSURANCE (TRUST FUND PRINCIPLES) AMENDMENT DETERMINATION 2000 (NO.1)
The Health Benefits Reinsurance (Trust Fund Principles) Amendment Determination 2000 (No.1) was gazetted on 3 May 2000.
Changes have been made to allow provision for reinsurance adjustments to be made over a number of quarters so as to ensure that such adjustments do not put unnecessary financial strain on organisations bearing the cost. This was previously part of Council Rule 4.
The Determination also has slightly revised the wording relating to the allowance of adjustments. The amendments do not change the processing of reinsurance.
Council Rule 4 has been repealed as a result of the changes. The new amendment supersedes the Health Benefits Reinsurance (Trust Fund Principles) Amendment Determination 1999 (No.1), which came into effect on 1 October 1999 (Circular No. 98)
When arrangements for including gap cover in reinsurance are finalised, a new circular will be issued. It is intended to consolidate the Reinsurance Determination at that time.
A copy of the new Amendment is included for your information at Attachment A.
A copy of the repeal of Council Rule 4 is included at Attachment B.