Industry Structure and Main Competitors
Private health insurance in Australia is heavily regulated to protect consumers. Prudential supervision is undertaken by PHIAC to ensure the funds remain solvent. PHIAC also publishes extensive statistics on the industry and annual financial statement for individual health funds to provide full transparency for stakeholders.
The pricing and features of health insurance products is regulated by the Dept. of Health and Ageing.
To inform consumers, the Private Health Insurance Ombudsman operates a website to explain private health insurance and provide a standardised basis to compare health fund products.
Read more about this topic: Medibank Private
Famous quotes containing the words industry, structure and/or main:
“Do not put off your work until tomorrow and the day after. For the sluggish worker does not fill his barn, nor the one who puts off his work; industry aids work, but the man who puts off work always wrestles with disaster.”
—Hesiod (c. 8th century B.C.)
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“The main trouble [with this country] is there are too many people who don’t know where they’re going and they want to get there too fast.”
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