Closed
Private health insurance actuarial studies for Lifetime Health Cover and risk equalisation
Tender ID: 438708
Tender Details
Organisation:
Tender #:
Health/2020-21/9683
Status:
Closed
Publish Date:
17 November 2020
Closing Date:
14 December 2020
Tender Description
The Department of Health is seeking a supplier with actuarial and economic expertise and with private health insurance experience to:
- Investigate the effectiveness of Lifetime Health Cover, including interaction with the Private Health Insurance Rebate and Medicare Levy Surcharge.
- Undertake qualitative and quantitative analysis of prospective risk equalisation approaches.
The Department intends to use the findings of the studies to develop reform options to improve the sustainability, affordability, value, and attractiveness of private health insurance in the context of the Australian healthcare system.
Study One: Private Health Insurance – Lifetime Health Cover
The study will involve:
- a review of the effectiveness of the current settings forLifetime Health Cover in terms ofthe impact on private health insurance coverage, affordability, and consumer behaviour; and
- the modelling of alternateLifetime Health Coverscenarios to improve sustainability, affordability, value, and attractiveness of private health insurance.
Study Two: Private Health Insurance – Risk Equalisation
The study will involve:
- a literature review and international review of prospective risk equalisation approaches;
- an evaluation of available datasets to support prospective risk equalisation approaches;
- development of prospective risk equalisation models to simulate the potential stakeholder impacts; and
- identification of other potential private health insurance regulatory changes to align incentives associated with prospective risk equalisation.
Location
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