Document ID: chunk:federal_register_of_legislation:F2016C00820:body:0:p2
Version: federal_register_of_legislation:F2016C00820
Segment Type: other
Provision Reference: 
Character Range: 2614–5538

Circumstances in which an insurer to be paid an amount and amount of payment
17. Manner and time of payment
Part 4 Calculating adjustment amounts
18. References to 'the Special Account'
19. Calculation where error in amount paid as levy or amount debited from the Special Account
20. Application of new calculation to determine adjustment amount
Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history

Part 1 Preliminary

1.                      Name of Rules

     These Rules are the Private Health Insurance (Risk Equalisation Policy) Rules 2015.

2B. Authority

     These Rules are made under the Private Health Insurance Act 2007.

3.                      Interpretation
(1)        In these Rules:
Act means the Private Health Insurance Act 2007.
age based pool or ABP has the meaning given by paragraph 7 (3) (a).
adjustment amount means an amount calculated under Part 4.
APRA means the Australian Prudential Regulation Authority.
benefit paid means a benefit paid by an insurer, in accordance with a policy, to or on behalf of an insured person covered by that policy.
Business Rules means Private Health Insurance (Health Insurance Business) Rules made under the Act, as made and in force from time.
Council means the Private Health Insurance Advisory Council referred to in section 264-1 of the Act as in force immediately before the commencement of Schedule 1, Part 1, Division 1 of the Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015.
designated threshold means the threshold specified in subrule 7 (10).
eligible benefit has the meaning given by subrule 5 (1).
gross benefit means the total eligible benefits paid by the insurer in respect of an insured person who falls within an age cohort set out in the table in subrule 7 (5).
hospital policy means a policy which covers any hospital treatment.
insured person means a person who receives the treatment to which the eligible benefit paid by the insurer to a policy holder relates.
insurer means a private health insurer.
levy means risk equalisation levy.
Levy Act means the Private Health Insurance (Risk Equalisation Levy) Act 2003.
old rules means the Private Health Insurance (Risk Equalisation Policy) Rules 2007 as in force immediately before the commencement of Schedule 1, Part 1, Division 1 of the Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015.
policy means a complying health insurance policy.
quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December in a year and, in respect of calculation of amounts under these Rules, means the quarter to which the calculation relates.
quarterly return has the same meaning as in the Risk Equalisation Administration Rules.
Risk Equalisation Administration Rules means the