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An assurance review would examine whether the Department of Health has obtained assurance that the financial benefits from the Prostheses List reforms accruing to private health insurers have been passed on to consumers in the form of premium reductions.
The Prostheses List legislates the minimum benefits payable by private insurers (if insurance is held by the patient) for specific prostheses. As of 1 February 2018, the minimum benefit payable by private health insurers was reduced. In return for the reduction in payment obligations, private health insurers advised that every $200 million in prostheses benefits reductions will decrease private health insurance premiums by one per cent.
Private health insurers submit applications to the Minister for Health for premium increases at the same time each year. Each application is examined by the Department of Health and the Australian Prudential Regulation Authority. This process is known as the annual premium round. Premium changes take effect from 1 April each year.
The objective of this audit was to assess whether selected regulatory entities effectively apply the cost recovery principles of the Australian Government’s cost recovery framework. The selected regulatory entities were the Department of Agriculture and Water Resources, the Australian Maritime Safety Authority, and the Department of Health (Therapeutic Goods Administration).
The audit objective was to assess the effectiveness of risk management, data monitoring and public reporting arrangements associated with the Australian Government's funding of public hospital services under the 2011 National Health Reform Agreement (NHRA).
The objective of the audit was to continue to examine the progress of the implementation of the annual performance statements requirements under the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and thePublic Governance, Performance and Accountability Rule 2014(PGPA Rule) by selected entities.