No. 11 of 2003 - Health Insurance (Amendment) Act 2003
What does this Law do:
The Act has two main provisions. The first provides a broad immunity from liability for damages for the Health Insurance Authority. The other main provision is to ensure that the temporary exemption from risk equalisation* can be availed of only by new entrants to the market. Other provisions of the Bill relate to the procedures that will apply under risk equalisation arrangements and to funding advanced for the establishment of the Authority.
*Risk Equalisation is a process that aims to equitably neutralise differences in insurers costs that arise due to variations in the health status of their members. Depending on the extent of the variation, risk equalisation may result in cash transfers from insurers with lower risk members to insurers with higher risk members. Provision for the operation of risk equalisation is concomitant to the policy of a community rated health insurance market.
Contact Department: Health & Children
Signed by the President on: 16.04.2003