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Title

Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Bill 2012

Database

Bills & Legislation

Long Title

a Bill for an Act to amend the law relating to private health insurance, and for related purposes

Date

28-11-2012 10:03 AM

Source

House of Reps

Parl No.

43

Bill Number

211/12

Bill Type

Government

Portfolio

Health and Ageing

Reps Bill Code

O

Status

Act

System Id

legislation/bills/r4936_first-reps/0001


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Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Bill 2012

Schedule 1 — Lifetime health cover loading

Part 1 — Main amendments

Private Health Insurance Act 2007

1  Before subsection 22-15(2)

Insert:

Private health insurance tiers

2  At the end of section 22-15

Add:

Lifetime health cover loading

             (6)  For the purposes of applying paragraphs (1)(a), (b) and (c), reduce the amount of the premium, or the amount in respect of a premium, by any part of that amount that is attributable to an increase in the premium in accordance with Division 34.

 

Part 2 — Consequential amendments

Income Tax Assessment Act 1936

3  After paragraph 264BB(2)(gb)

Insert:

                    (gc)  whether the premium has been increased in accordance with Division 34 of the Private Health Insurance Act 2007 , and if so, the amount of the increase;

 

Part 3 — Application provision

4  Application provision

The amendment made by item 2 applies in relation to a premium, or an amount in respect of a premium, paid on or after 1 July 2013 under a complying health insurance policy, to the extent that the premium or amount relates to one or more days that are on or after 1 July 2013.