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:
“Your representative owes you, not his industry only, but his judgement; and he betrays instead of serving you if he sacrifices it to your opinion.”
—Edmund Burke (1729–1797)
“In the extent and proper structure of the Union, therefore, we behold a republican remedy for the diseases most incident to republican government.”
—James Madison (1751–1836)
“Greece is a sort of American vassal; the Netherlands is the country of American bases that grow like tulip bulbs; Cuba is the main sugar plantation of the American monopolies; Turkey is prepared to kow-tow before any United States pro-consul and Canada is the boring second fiddle in the American symphony.”
—Andrei Andreyevich Gromyko (1909–1989)