Minimum Benefit Regulations
Under the current Minimum Benefit Regulations, all insurance products that provide cover for inpatient hospital treatment must provide a certain minimum level of benefits. It is considered necessary to regulate the minimum level of benefits in order to support community rating and because of the complex and specialist nature of health insurance products.
The key purpose of the Regulations is to ensure the continued availability of the type of broad hospital cover traditionally held as a minimum by the insured population and to ensure that individuals do not significantly under-insure.
The Minimum Benefit Regulations ensure that all consumers obtain an appropriate minimum level of health insurance cover regardless of what plan they purchase and that every plan available is inclusive of a minimum suite of benefits/procedures.
The health services and procedures provided by minimum benefit should be viewed as a cohort of procedures that are important and of benefit to the community of the insured population, and thus should be protected and provided as a minimum base to all.