Health fund reforms need more scrutiny

15 June 2015

Under proposed changes due to come into effect on 1 July 2015,the responsibility for regulatory oversight of the private health insurance industry will shift from the Private Health Insurance Administration Council (PHIAC), which will no longer exist as a separate entity, and move to the Australian Prudential Regulation Authority (APRA).

In an interview on the The Barry Mac Show on radio station 2ST, the President of the Australian Dental Association, Rick Olive, has expressed concern that the Government has not sufficiently scrutinised the bills that will bring this regulatory change into law, leaving consumers less able to make informed choices about their PHI coverage.

While Rick Olive acknowledged that APRA performs its tasks effectively and professionally, it is not the dedicated PHI regulator that PHIAC was and won't be able to provide the same level of impartial consumer advice.

In the light of this, Rick Olive suggests consumers either approach the PHI Ombudsman, the ADA or their local dentist for advice on which private health insurer will meet their needs.

You can access the full interview here.