Rate of risk equalisation levy
7 Rate of risk equalisation levy
The rate of risk equalisation levy imposed on a particular day is worked out using the following table:
Rate of risk equalisation levy | ||
|---|---|---|
Item | The rate of levy imposed on a … | is the rate that … |
1 | risk equalisation levy day | (a) is determined in writing by APRA; and (b) applies on that day. |
2 | supplementary risk equalisation levy day | (a) is determined in writing by the Minister; and (b) applies on that day. |
In determining the rate of levy, APRA and the Minister must comply with the Private Health Insurance (Risk Equalisation Policy) Rules made under the Private Health Insurance Act 2007.
The rate of levy may be set at zero.
An instrument made under paragraph (a) of item 1 or 2 of the table in subsection (1) is not a legislative instrument.
This Act’s bill:Explanatory memorandumSecond reading speech
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