Be Alert & Alarmed! IBNR RALLY Update

Hilton, Sydney Airport
20 Levey Street, Arncliffe NSW
SUNDAY 20 JULY 2003 AT 9AM

  • The Federal Health Department has not denied that the soon to be announced UMP IBNR levy will be 50% of the 2000-2001 premium (payable at the same time as the existing 20% UMP levy).
  • Actuaries claim that an extra $450 million will have to be found out of your patients’ pockets as a contingency fund for future IBNRs.
  • This will mean a cost spike of up to $25K per annum for some groups in the first year and continual payments for as long as it takes to satisfy actuarial requirements. The money is to be paid to the Federal Health Department who will “manage” it on your behalf.
  • All doctors, other than those with subsidies (O&G, Neurosurgeons and procedural GPs), will be hit by this cost hike.
  • Younger doctors and retiring doctors will still have to pay the levy unless exempted. There will be penalties for non-compliance.
  • The Health Minister is being told that the 30% private health insurance rebate has given doctors a windfall so they can afford these increases. These people are on another planet.
  • The meeting will be for 1 1/2 hours maximum or shorter and will be specific to the IBNR levy issue.
  • A Motion calling for changes to the IBNR levy payments will be put to the meeting.
  • Senior medico-political leaders have been invited to speak.
  • For further information see the ADF website: www.ausdoctorsfederation.org.au

ACT NOW OR PAY LATER!

Authorised by Dr Bruce Shepherd, Chairman, Australian Doctors’ Fund
All Enquiries: Stephen Milgate, Executive Director, Australian Doctors’ Fund
P: 02 9567 5595 F: 02 9567 4050
Sponsored by the Australian Doctors’ Fund
27 July 2003

IBNR Rally - Motions Carried Unanimously
Wrong Diagnosis Dr Fels