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GMF Administrator
Dated: 23 December 2001
PHIAC Appoints Administrator to Goldfields Medical Fund
The Private Health Insurance Administration Council (PHIAC) today appointed
an administrator to the Kalgoorlie-based Goldfield Medical Fund (GMF).
PHIAC Chief Executive Officer, Gayle Ginnane, said the decision to appoint the administrator was taken after receipt of a report from an inspector, who was appointed in late November by PHIAC to investigate a number of issues.
She said members of GMF were assured that they would continue to receive payment of their benefits and the operations of the fund would continue. The National Health Act, under which GMF operates, has very explicit provisions to protect the benefits of health fund members.
“This action has been taken to protect the interests of members. They can be confident that their entitlements will be honoured in full,” Ms Ginnane said.
The administrator is Peter Hedge of PricewaterhouseCoopers.
Ms Ginnane said PHIAC had been closely monitoring GMF’s performance to ascertain its financial position and determine if it was compliant with all the requirements of a registered health fund.
The inspector had investigated and assessed the financial state of the fund and had provided PHIAC with independent advice.
“I will wait on a full report from the administrator before I make any further comments on the position of GMF,” she said.
About PHIAC
The The Private Health Insurance Administration Council (PHIAC) is an independent statutory authority that regulates the private health insurance industry.
For more information please contact: Gayle Ginnane, PHIAC Chief Executive Officer (02) 6285 3132 or 0419 285 313.