Document ID: chunk:federal_register_of_legislation:F2023L00721:front:0:p5
Version: federal_register_of_legislation:F2023L00721
Segment Type: other
Provision Reference: 
Character Range: 11437–15443

Benefits Fund Policy) Rules 2015.

(Health-related business non-insurance activities)
Asset class type                                                                   The asset class types are:
                                                                                       * interest rate investments (direct);
                                                                                       * equities (direct);
                                                                                       * property (direct);
                                                                                       * loans (direct);
                                                                                       * indirect investments; and
                                                                                       * other investments.

C
Claims handling expenses amount                       This has the same meaning as claims handling expenses as defined in HPS 001.
Claims incurred amount                                This has the same meaning as claims incurred as defined in HPS 001.
Class of business                                     Relates to insurance business only. This can be:
                                                           * hospital treatment; or
                                                           * general treatment.
Commissions & fees                                    This is the value of fees and/or commissions paid to agents, brokers or aggregators.

(Other business expenses type)
Costs of goods/services: Dental business              These are all expenses directly or indirectly attributed to the provision of dental business goods and/or services to both policy holders and non-policy holders of the private health insurer.

(Other business expenses type)
Costs of goods/services: Hospitals & Medical Centres  These are the costs of all hospital and medical centre business goods and/or services provided to both policy holders and non-policy holders of the private health insurer.

(Other business expenses type)
Costs of goods/services: Optical business             These are the costs of all optical business goods and/or services provided to both policy holders and non-policy holders of the private health insurer.

(Other business expenses type)
Costs of goods/services: Other                        These are the costs of all other health related business goods and/or services provided to both policy holders and non-policy holders of the private health insurer.

(Other business expenses type)

D
Dividends declared or paid  Report dividends which are declared or paid by the private health insurer. A dividend is the amount paid out of a company's profits to its shareholders (interim and final dividend). The annual dividend equals the final dividend plus the interim dividend if declared.

E
Employee costs                                        This is the value of items such as recruitment, wages and salaries, superannuation expenses, share-based payment expense, other long-term benefits expense, termination benefits expense, social security costs, contractor and on costs, and training.

(Other business expenses type)
Equities (direct)                                     Equities (direct) are comprised of equity securities and of subordinated debt securities. Equity securities are, as defined by the Australian Accounting Standards, contracts that evidence a residual interest in the assets of an entity after deducting all its liabilities. This includes equity securities lent or sold by the entity under repurchase agreements, where the transaction does not result in the transfer of the rights of ownership of the securities away from the entity to another party. Subordinated debt is a debt security where the claim to repayment ranks lower in priority to other claims.

(Asset class type)
External sources                                      This means all HRB non-insurance revenue