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Federation Health Administrator

Dated: 14 December 2004

PHIAC APPOINTS ADMINISTRATOR

The Private Health Insurance Administration Council (PHIAC) has appointed an administrator to Federation Health, a regional health fund in the Latrobe Valley, Victoria.

The decision follows an investigation of Federation Health into a number of issues in relation to the Fund’s financial and reporting arrangements.

PHIAC CEO, Mrs Gayle Ginnane, said PHIAC believed that the interest of the fund’s contributors are best served by the appointment of an administrator who will provide the organisation and the fund it conducts with competent and effective management to identify problems and implement beneficial change where appropriate.

“The PHIAC Board decided that appointing an external, independent administrator was in the best interests of the Fund and its contributors.

“Having an administrator manage Federation Health for a time provides the best opportunity for PHIAC to work with the organisation while, at the same time, seeking the best outcome for contributors,” Mrs Ginnane said.

Mrs Ginnane said that the process would ensure the interests of fund members were safeguarded and contributors could confidently expect their membership and related services to be honoured in the usual manner.

The appointment of the administrator, Mr Peter Hedge of Hedge and Associates, will take effect immediately.

About PHIAC

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) 6215 7999 or 0419 285 313.

Released by: Ms Jann George, Phillips Group (07) 3230 5000 or 0417 780 670.

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Private Health Insurance Administration Council

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Last modified: 22 July, 2005