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.