Meaning of designated change
66-7 Meaning of designated change
A designated change to a *complying health insurance product is any of the following:
subject to subsection (2), a change that results in a reduction in, or removal of, a treatment covered by the product;
a change:
that results, or might result, in a benefit under the product being reduced; and
that is of a kind specified in the Private Health Insurance (Product Premium) Rules for the purposes of this subparagraph;
a change:
to any other term or condition of the product that results, or might result, in the value to persons insured under a policy that belongs to the product being reduced; and
that is of a kind specified in the Private Health Insurance (Product Premium) Rules for the purposes of this subparagraph.
The Private Health Insurance (Product Premium) Rules may provide that paragraph (1)(a) does not apply in relation to a change of a kind specified in those Rules for the purposes of this subsection.
This Act’s bill:Explanatory memorandumSecond reading speech
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