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Healthcare In Australia
Health care in Australia operates under a shared public-private model underpinned by the Medicare system, the national single-payer funding model. State and territory governments operate public health facilities where eligible patients receive care free-of-charge. Primary health services, such as GP clinics, are privately owned in most situations, but attract Medicare rebates. Australian citizens, permanent residents, and some visitors and visa holders are eligible for health services under the Medicare system. Individuals are encouraged through tax surcharges to purchase health insurance to cover services offered in the private sector, and further fund health care. In 1999, the Howard Government introduced the private health insurance rebate scheme, under which the government contributed up to 30% of the private health insurance premium of people covered by Medicare. Including these rebates, Medicare is the major component of the total Commonwealth health budget, taking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Disability Insurance Scheme
The National Disability Insurance Scheme (NDIS) is a scheme of the Australian Government that funds costs associated with disability. The scheme was legislated in 2013 and went into full operation in 2020. The scheme is administered by the National Disability Insurance Agency (NDIA) and overseen by the NDIS Quality and Safeguards Commission (NDIS Commission). The scheme entitles people with a "permanent and significant" disability (under the age of 65), to full funding for any "reasonable and necessary" support needs related to their disability (subject to certain restrictions). Funding is allocated to the individual, and the individual or their guardian chooses which providers supply the funded goods and services (subject to certain restrictions). The scheme is entirely publicly funded: recipients do not purchase or contribute to an insurance policy. The scheme is not means-tested. The word 'insurance' refers to the scheme's use of proactive insurance principles to manage l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HCF Health Insurance
The Hospitals Contribution Fund of Australia, commonly referred to as HCF, is an Australian private health insurer headquartered in Sydney, New South Wales. Founded in 1932, it has grown to become one of the country's largest combined registered private health fund and life insurance company. HCF is the third-largest health insurance company by market share, and is the largest not-for-profit health fund in Australia.PHIAC Annual Report 2009-10 - Operations of the Private Health Insurer/ref> HCF provides private health insurance policy, insurance cover for a full range of health cover including pet insurance, travel insurance and life insurance. History In 1893, the Hospitals Saturday Fund of NSW (HSF) was established by Frank Grimley to serve this purpose. Money was raised by conducting a one-day-a-year drive to collect funds from the public and from businesses. These collections were then distributed among participating hospitals. In 1900, HSF introduced individual su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GMHBA Limited
GMHBA Limited is a not-for-profit, mutual Australian private health insurance and care company founded in 1934, based in Geelong, Victoria, Australia. GMHBA also operates eye care and dental care practices along with GP clinics. History GMHBA has roots in the Cement Workers Hospital Benefits Scheme, established in 1927 by workers at the cement works at Fyansford, on the outskirts of Geelong. By 1928 a number of similar schemes had been started for employees of other local industrial organisations. An open health fund was officially launched and opened to the public by the mayor of Geelong on 13 August 1934. The name Geelong Medical and Hospital Benefits Association (GMHBA) was adopted in 1958. In October 2009 GMHBA launched a second brand called Frank Health Insurance, which was developed to provide a simple private health insurance offering at low cost. NIB takeover bid In October 2010 Newcastle, New South Wales based health fund NIB made a $140 million takeover offer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit Organization
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Unity
Australian Unity is an Australian mutual company having its origins in the friendly societies movement. It was formed as the Manchester Unity Independent Order of Oddfellows (MUIOOF) in Melbourne, Victoria, on 7 December 1840 by eight men including Thomas Strode, publisher of the Port Phillip Gazette and Augustus Greeves, inspired by Independent Order of Oddfellows Manchester Unity. In 1993, Manchester Unity merged with the Australian Natives' Association to form Australian Unity. Later mergers occurred with Grand United Friendly Society in 2005, Lifeplan Australia Friendly Society in 2009, and Big Sky Credit Union in 2012. Australian Unity has about 8,500 employees across healthcare, insurance and banking (in the guise of Big Sky Credit Union) divisions. In 2012, Big Sky was merged with Australian Unity to become the banking arm of Australian Unity. Ownership of Big Sky Credit Union Limited was transferred to Australian Unity Limited's subsidiary Lifeplan Australia Building S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Insurance
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders. History The concept of mutual insurance originated in England in the late 17th century to cover losses due to fire. The mutual/casualty insurance industry began in the United States in 1752 when Benjamin Franklin established the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire. Mutual property/casualty insurance companies exist now in nearly every country around the globe. The global trade association for the industry, the International Cooperative and Mutual Ins ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nib Health Funds
nib Group (nib, formerly Newcastle Industrial Benefits) is an Australian health care fund. It was established in the NSW Hunter Region in 1952 to provide health insurance for workers at the BHP Steelworks, and has since grown into a national and international operation. As of 2017, nib held an 8.3% share of the Australian private health cover market. History nib was established in the NSW Hunter Region in 1952 to provide health insurance for workers at the BHP Steelworks. In 1995, nib was involved in a landmark court case after they rejected family health cover to a homosexual couple. While most health insurers at the time were choosing to recognise same-sex relationships, there had been no official ruling on the matter. The subsequent court case, Hope & Brown vs NIB, found that nib had violated the Anti-Discrimination Act 1977, setting a legal precedent that redefined 'family' to include same-sex couples and their children for the purposes of health insurance. nib appealed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bupa
Bupa , legally British United Provident Association Limited, is an international health insurance and healthcare group with over 38 million customers worldwide. Bupa's origins and global headquarters are in the United Kingdom. Its main countries of operation are: Australia, Spain, the United Kingdom, Chile, Poland, New Zealand, Hong Kong, Turkey, Brazil, Ireland, Mexico and the United States. It also has a presence across Latin America, the Middle East and Asia, including joint ventures in Saudi Arabia and India.Full Year Results Presentation 2021 Bupa is a private . It has no shareholders and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Business Enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and develop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medibank
Medibank Private Limited, better known as simply Medibank, is one of the largest Australian private health insurance providers, covering 3.7 million people in 2021. Medibank initially started as an Australian Government not-for-profit insurer in 1976, before becoming for-profit in 2009 and privatised by the Abbott Government in 2014. Medibank now operates as a publicly-listed company on the Australian Securities Exchange. History Medibank began business as an Australian Government-owned private health insurer, established by the Whitlam Government in 1975 through the Health Insurance Commission. Medibank was set up to provide competition to private "for-profit" health funds and to put pressure on other health funds to keep premiums at a reasonable level. In 2006, the Howard Coalition Government announced that Medibank would be sold in a public float if it won the 2007 election. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Government
The Australian Government, also known as the Commonwealth Government, is the national government of Australia, a federal parliamentary constitutional monarchy. Like other Westminster-style systems of government, the Australian Government is made up of three branches: the executive (the prime minister, the ministers, and government departments), the legislative (the Parliament of Australia), and the judicial. The legislative branch, the federal Parliament, is made up of two chambers: the House of Representatives (lower house) and Senate (upper house). The House of Representatives has 151 members, each representing an individual electoral district of about 165,000 people. The Senate has 76 members: twelve from each of the six states and two each from Australia's internal territories, the Australian Capital Territory and Northern Territory. The Australian monarch, currently King Charles III, is represented by the governor-general. The Australian Government in its executive ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
