Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Act 2013 (Cth)

Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Act 2013

No. 105, 2013

An Act to amend the law relating to private health insurance, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Lifetime health cover loading Part 1—Main amendments Private Health Insurance Act 2007 Part 2—Consequential amendments Income Tax Assessment Act 1936 Part 3—Application provision Schedule 2—Incentive payments scheme Part 1—Main amendments Private Health Insurance Act 2007 Part 2—Consequential amendments Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 3—Saving provisions

Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Act 2013 No. 105, 2013

An Act to amend the law relating to private health insurance, and for related purposes

[Assented to 29 June 2013]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Act 2013.

2 Commencement This Act commences on 1 July 2013.

3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Lifetime health cover loading

Part 1—Main amendments

Private Health Insurance Act 2007

1 Before subsection 22‑15(2) Insert:

Private health insurance tiers

2 At the end of section 22‑15 Add:

Lifetime health cover loading (6) For the purposes of applying paragraphs (1)(a), (b) and (c), reduce the amount of the premium, or the amount in respect of a premium, by any part of that amount that is attributable to an increase in the premium in accordance with Division 34.