APRA releases response to submissions on private health insurance reform data collection

The Australian Prudential Regulation Authority (APRA) has released its response to submissions on the proposed Reporting Standard HRS 605.0 Private Health Insurance Reform Data Collection (HRS 605.0).

APRA will collect data under HRS 605.0 on behalf of the Department of Health on private health insurance reform measures announced by the Department in October 2017. 

HRS 605.0 data will be used to assist the Department in monitoring and analysing the effects of the reforms on consumers and private health insurers.

The response letter and clean and marked up versions of the updated HRS 605.0 are available at: Consultations on private health insurance reform data collection

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.