Quick Links
Circular No 07/18
General PHIAC Circulars
Circular No 07/18Contact Officers: Replaces Circular: N/A17 July 2007 |
|
REVISED REQUIREMENTS FOR PHIAC 2 REPORTING
1. Revised template
A revised PHIAC 2 reporting template has been developed and issued for use by Private Health Insurers when reporting to PHIAC in respect of the June 2007 quarter and subsequent reports (including Annual Returns).
The template has previously been sent to the PHIAC 2 contact specified by each insurer in their March 2007 PHIAC2 return.
A copy of the template is available from PHIAC’s website: http://www.phiac.gov.au/for-industry/forms/
The site will be periodically updated to maintain access to subsequent versions (if any).
2. Reporting of Overseas Visitors Cover (OVC) for PHIAC 2 Purposes
Rule 17 of the Private Health Insurance (Health Insurance Business Rules) 2007 provides that cover provided to certain overseas visitors continues to be considered mainstream Health Insurance Business until 1 July 2008 (see also PHI 16/07).
Notwithstanding that the recently issued PHIAC 2 return has provision for the disclosure of amounts relating to OVC within the Health Related Business section of the return, revenues and costs associated with OVC are to be included in the reported amounts for Health Insurance Business and are not to be reported as a Health Related Business until such time as returns are prepared in respect of periods beginning on or after 1 July 2008.
The inclusion of OVC in the Health Related Business section of the return makes provision for the different treatment of OVC in the period beyond 1 July 2008.