Document ID: chunk:federal_register_of_legislation:F2023L00639:body:0:p3
Version: federal_register_of_legislation:F2023L00639
Segment Type: other
Provision Reference: 
Character Range: 5563–8727

that the private health insurer has taken the appropriate steps to rectify the matters raised in the previous report.

    14.         The auditor's report must:

       (a)          state details of the program adopted to carry out the audit; and

       (b)          include the name of, and be signed by, the auditor who takes responsibility for the accuracy of the report.

Authorisation

    15.         A person who submits the information required under this Reporting Standard must be suitably authorised by an officer of the private health insurer.

Variations

    16.         APRA may, in writing, vary the reporting requirements of this Reporting Standard in relation to a private health insurer.

Interpretation

    17.         In this Reporting Standard:

       (a)          unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard HPS 001 Definitions (HPS 001); and

       (b)          the following definitions are applicable:

        APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;

        capital standards means the prudential standards which relate to capital adequacy, as defined in HPS 001;

        officer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015;

        private health insurer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015; and

        reporting period means a period mentioned in paragraph 6 or, if applicable, paragraph 7.

    18.         Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.

Reporting Standard HRS 110.0

Prescribed Capital Amount

General instructions

A private health insurer must apply this Reporting Standard separately to each of its health benefits funds and its general fund. The term private health insurer refers to the private health insurer as a whole. The term fund refers to each health benefits fund and general fund, unless otherwise noted.

Reporting tables

Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

Definitions

Terms highlighted in bold italics indicate that the definition is provided in these instructions.

A
Adjustments to prescribed capital amount as approved by APRA  These are adjustments made to a fund's prescribed capital amount if APRA is of the view that the Standard Method for calculating the prescribed capital amount does not produce an appropriate outcome in respect of a fund, or if a private health insurer has used inappropriate judgement or estimation in calculating the prescribed capital amount for that fund.

                                                              Approved adjustments are to be