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Medibank began as an Australian Government private health insurance scheme, established by the Whitlam government in 1975 through the Health Insurance Commission. [4] In its original form, it was a universal health insurance programme funded through taxation, that also ensured free treatment at public hospitals and provided subsidies to private hospitals.
In Australia, health insurance is provided by a number of health insurance organisations, called health funds. Such insurance is optional, and covers the cost of treatment as a private patient in a hospital, and may provide "extras" cover.
Australia's insurance market can be divided into roughly three components: life insurance, general insurance and health insurance.These markets are fairly distinct, with most larger insurers focusing on only one type, although in recent times several of these companies have broadened their scope into more general financial services, and have faced competition from banks and subsidiaries of ...
SYDNEY (Reuters) -Australia's banking regulator told insurer Medibank on Tuesday it would have to set aside A$250 million ($167 million) in extra capital, citing weaknesses identified in its ...
Medibank shares had entered a trading halt pending the announcement of the cyber incident, and the health insurer confirmed it would remain closed for trading as it investigates the incident.
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The Health Insurance Act of 1973 (Cth) was an Act of the Parliament of Australia, passed by the Labor Whitlam government, which introduced the Commonwealth of Australia's first universal healthcare scheme: Medicare (Australia).
SYDNEY (Reuters) -Australia's privacy regulator said on Wednesday it had filed a lawsuit against the country's biggest health insurer Medibank over a data breach that exposed personal information ...