A private health insurer must have at least one health benefits fund.

Note:   Part   4 - 4 of the Private Health Insurance Act 2007 defines the concept of a health benefits fund as well as other key concepts related to health benefits funds.

There are regimes governing:

  (a)   how health benefits funds are operated; and

  (b)   changing the health benefits fund to which a policy of insurance is referable; and

  (c)   terminating health benefits funds; and

  (d)   external management of health benefits funds.

APRA may require private health insurers to remedy contraventions of this Part.