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:
“... we’re not out to benefit society, to remold existence, to make industry safe for anyone except ourselves, to give any small peoples except ourselves their rights. We’re not out for submerged tenths, we’re not going to suffer over how the other half lives. We’re out for Mary’s job and Luella’s art, and Barbara’s independence and the rest of our individual careers and desires.”
—Anne O’Hagan (1869–?)
“For the structure that we raise,
Time is with materials filled;
Our to-days and yesterdays
Are the blocks with which we build.”
—Henry Wadsworth Longfellow (1809–1882)
“The chief misery of the decline of the faculties, and a main cause of the irritability that often goes with it, is evidently the isolation, the lack of customary appreciation and influence, which only the rarest tact and thoughtfulness on the part of others can alleviate.”
—Charles Horton Cooley (1864–1929)