APRA Consults on Data Collection on Private Health Insurance Reforms

APRA proposes to collect, on behalf of the Department of Health, data on private health insurance reform measures that were announced in October 2017 and introduced from April 01, 2018 by the Department of Health. The proposed data collection formalizes the existing Excel-based reporting through the implementation of the reporting standard HRS 605.0. Feedback is being welcomed on the design of the proposed data collection, instructions included in the standard, the proposed implementation timeline, and the treatment of the data as non-confidential. Feedback is also invited on the financial impact of the proposed collection, which includes implementation and ongoing costs of reporting, and on whether these costs are expected to increase or decrease over time. The Department of Health and APRA also seek feedback on any barriers or associated costs with implementing the changes in the proposed time frame. Submissions can also indicate whether any aspects of the proposed data collection could be improved or removed to reduce compliance costs, or whether certain data items are more or less difficult to provide.

The proposed implementation of HRS 605.0 is expected to coincide with the start of the new data collection solution of APRA, which replaces Direct to APRA (D2A), the current data collection tool of APRA. Thus, APRA intends that entities will submit HRS 605.0 data in the new data collection solution, or in an alternative file-based method, and expects that private heath insurers will be able to submit data via manual entry or upload of XBRL or Microsoft Excel files. The new Data Collection Solution will replace Direct to APRA (D2A) as a system for reporting entities to submit data to APRA. It will be easier to use, require less maintenance, and be adaptable, as reporting requirements, data analytics, and technology evolve. The new data collection solution is scheduled to become operational in the second half of 2020.

Related Links

• Media Release
• Consultation and Related Documents
• New Data Collection Solution

Comment Due Date: October 11, 2019

Keywords: Asia Pacific, Australia, Insurance, Private Health Insurers, D2A, HRS 605.0, Data Collection, Reporting, APRA