Private Health Insurance Act 2007

Pt 2-2 heading substituted by No 105 of 2013, s 3 and Sch 2 item 3, effective 1 July 2013. The heading formerly read:

PART 2-2 - PREMIUMS REDUCTION AND INCENTIVE PAYMENTS SCHEMES

Div 22 inserted by No 26 of 2012, s 3 and Sch 1 item 10, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012.

Subdiv 22-C repealed by No 26 of 2014, s 3 and Sch 1 item 3, effective 9 April 2014.

Subdiv 22-C inserted by No 106 of 2013, s 3 and Sch 1 item 4, effective 29 June 2013.

S 22-55 repealed by No 26 of 2014, s 3 and Sch 1 item 3, effective 9 April 2014. S 22-55 formerly read:

SECTION 22-55 INDEXATION  
22-55(1)
This section sets out how a *base premium for a *product subgroup is to be indexed on a 1 April, as required by subsection 22-50(2) or (4).

Indexing base premiums

22-55(2)
Index the *base premium by:
(a) firstly, multiplying the base premium by its *base premium indexation factor; and
(b) next, rounding the result in paragraph (a) down to the nearest cent.

22-55(3)
To avoid doubt, the *base premium is indexed even if its *base premium indexation factor is less than 1.

Base premium indexation factor

22-55(4)
The base premium indexation factor for the *base premium on 1 April in a particular year is the lesser of the following numbers:
(a) the *premium indexation factor for the *product subgroup for that 1 April;
(b) the *CPI indexation factor for that 1 April.

S 22-55 inserted by No 106 of 2013, s 3 and Sch 1 item 4, effective 29 June 2013.