Federal Register of Legislation - Australian Government

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Determinations/Other as made
This instrument ensures that the cost to supervise private health insurance providers (estimated to be $6.09 million in the 2019-20 financial year) will be recovered through a levy on all complying health insurance policies that apply on the census day, which is determined to be 1 July 2019 for the 2019-20 financial year.
Administered by: Treasury
Registered 28 Jun 2019
Tabling HistoryDate
Tabled HR02-Jul-2019
Tabled Senate02-Jul-2019
Table of contents.

Commonwealth Coat of Arms

 

 

Private Health Insurance Supervisory Levy Imposition Determination 2019

I, Simon Birmingham, Acting Treasurer, make the following determination under subsection 8(4) of the Private Health Insurance Supervisory Levy Imposition Act 2015.

Dated:  26 June 2019

 

 

 

Simon Birmingham

Acting Treasurer

 

  

  

  


Contents

1  Name of determination............................................................................................................. 2

2  Commencement........................................................................................................................ 2

3  Authority.................................................................................................................................. 2

4  Repeal.........................................................................................................................................         2

5  Definitions................................................................................................................................ 2

6  Amount of supervisory levy..................................................................................................... 2

7  Amount of supervisory levy for a single policy....................................................................... 2

8  Census Day.............................................................................................................................. 3

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                        


1  Name of determination

                   This determination is the Private Health Insurance Supervisory Levy Imposition Determination 2019.

2  Commencement

                   This determination commences on 1 July 2019.

3  Authority  

                   This determination is made under subsection 8(4) of the Private Health Insurance Supervisory Levy Imposition Act 2015.

4  Repeal

                   The Private Health Insurance Supervisory Levy Imposition Determination 2018 is repealed.

5  Definitions

                   In this determination:

2019‑2020 financial year means the financial year commencing on 1 July 2019.

Act means the Private Health Insurance Supervisory Levy Imposition Act 2015.

Note:          Terms used in this determination have the same meaning as in the Act—see section 13 of the Legislation Act 2003.

6  Amount of supervisory levy

                   For subsection 8(4) of the Act, for the 2019-2020 financial year:

                     (a)  the amount of supervisory levy for each complying health insurance policy (a single policy) under which only one person is covered is worked out under section 7; and

                     (b)  the amount of supervisory levy for each complying health insurance policy that is not a single policy is twice the amount for a single policy.

7  Amount of supervisory levy for a single policy

             (1)  The amount of supervisory levy for a single policy is the amount in cents worked out using the formula:

 


609,000,000

aggregate single policies + (2 × aggregate other policies)

 

 

 

where:

aggregate single policies means the total number of single policies on issue from all private health insurers on 1 July 2019;

aggregate other policies means the total number of complying health insurance policies (other than single policies) on issue from all private health insurers on 1 July 2019.

             (2)  However, if the amount worked out using the formula is more than $2, the amount of supervisory levy for a single policy is $2.

Note:          For the definition of single policy, see paragraph 6(a).

8  Census Day

                   For subsection 8(5) of the Act, 1 July 2019 is specified as the census day for the 2019‑2020 financial year.