Commonwealth legislation

Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

190 of 2004

Collection

legislative instrument

Plain English Summary

1/10 complexity

What this does: These regulations set the exact dates when private health insurers must pay money into the Reinsurance Trust Fund—a pool that helps spread the cost of high-risk members evenly across all insurers (called "risk equalisation").

Who it affects: Private health insurance companies (not everyday customers).

The key details:

Insurers must pay the levy on the 21st day of the second month of each quarter
This translates to four payment dates each year:
- 21 February (for the quarter ending March)
- 21 May (for the quarter ending June)
- 21 August (for the quarter ending September)
- 21 November (for the quarter ending December)

Why it matters: This ensures the risk-sharing scheme has predictable funding dates, allowing insurers to budget accurately while maintaining the financial stability of the reinsurance pool.

JSON API Health / NDIS / medicines

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Current sections

Direct links to the current provisions in Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004.

Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004

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Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004

Statutory Rules 2004 No. 1901

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Private Health Insurance (Reinsurance Trust Fund Levy) Act 2003.

Dated 24 June 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

TONY ABBOTT

Minister for Health and Ageing

1 Name of Regulations

These Regulations are the Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004.

2 Commencement

These Regulations commence on 1 July 2004.

3 Definitions

In these Regulations:

Act means the Private Health Insurance (Reinsurance Trust Fund Levy) Act 2003.

quarter means the period of 3 months ending on the last day of March, June, September or December.

4 Reinsurance Trust Fund levy day

For paragraph 6 (1) (a) of the Act, the 21st day of the second month of each quarter in a financial year is specified as a Reinsurance Trust Fund levy day for that financial year.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 1 July 2004.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004

Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004

Statutory Rules 2004 No. 1901

Dated 24 June 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

TONY ABBOTT

Minister for Health and Ageing

1 Name of Regulations

These Regulations are the Private Health Insurance (Reinsurance Trust Fund Levy) Regulations 2004.

2 Commencement

These Regulations commence on 1 July 2004.

3 Definitions

In these Regulations:

Act means the Private Health Insurance (Reinsurance Trust Fund Levy) Act 2003.

quarter means the period of 3 months ending on the last day of March, June, September or December.

4 Reinsurance Trust Fund levy day

For paragraph 6 (1) (a) of the Act, the 21st day of the second month of each quarter in a financial year is specified as a Reinsurance Trust Fund levy day for that financial year.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 1 July 2004.