Private Health Insurance Course
Private health insurance is a dynamic industry in a growing sector of the economy. The past decade has witnessed a wave of reforms including the introduction of the rebate for private health insurance premiums, lifetime health cover and the requirement for all insurers to have an Appointed Actuary and produce an annual Financial Condition Report.
Actuaries hold key statutory roles in the financial condition and overall risk management of private health insurers. Other health insurance practitioners also provide critical information and analysis in the successful operation of the insurers.
Private Health Insurance CPD Education Course
With the support of the Private Health Insurance Advisory Council (PHIAC), we have developed an online Private Health Insurance CPD Education Course.
This course incorporates changes to legislation, professional standards, industry activity and health reform since the original course was launched in July 2007.
The Course will equip actuaries and their technical staff with the necessary knowledge and skills to understand the specific conduct and operations of private health insurance in Australia.
The course has been written in a way that also makes it valuable for other health insurance practitioners including financial staff, general management and Board members.
Access to Online PHI Course
The online PHI Course is available here.
Who Should Enrol?
Actuaries, Analysts and Technical Staff, Regulators, Health Insurer CEOs and CFOs, Interested Health Insurance Practitioners.
When will the course begin?
As the course is self-paced it is possible to enrol at any time. You will have a period of nine months to complete the course assessment.
Private Health Insurance Course Outline
Topic 1: The Environment and Regulation
Topic 2: Operations and Data
Topic 3: The Role of the Actuary
Topic 4: Product Design and Pricing
Topic 5: Capital Management
Topic 6: Major Transactions for Private Health Insurers
Download a detailed course outline from here.
Assessment
Participants can enrol at any time and will have access to the course for a period of 9 months to complete the course assessment. The course has two levels of assessment:
- Topic by Topic Assessment or participants to self check how they are progressing at the end of each topic.
- Final Assessment for participants to demonstrate that they have successfully achieved the learning outcomes of the course.
Topic by Topic Assessment
Once participants feel that they have a good understanding of a particular topic they should attempt the assessment for that topic by clicking on the Critical Thinking Task link in the online Learning Management System.
In this assessment participants will be presented with five to eight critical thinking questions in the online Learning Management System. These questions are also available at the end of the Topic Notes. Participants will be required to reflect on the questions and submit their best attempt as a short written answer (one paragraph to less than one page).
Participants will then receive instant feedback in the form of model solutions so that they can self check their work. Topic by Topic Assessments do not have any formal assessment weighting, but may be referenced in situations where a borderline Final Assessment has been submitted (see below) to determine the level of understanding that a participant has achieved.
Participants who successfully complete the course on their first attempt will not receive personalised feedback on their Topic by Topic Assessments.
Final Assessment
Once participants feel that they have a good understanding of all topics in the course they should attempt the Final Assessment. Participants will be presented with seven short answer critical thinking questions in the online Learning Management System (one for each topic).
This assessment can be accessed from any computer with access to the World Wide Web without an invigilator. Participants may use external reference material to complete this assessment. There is no time limit for the assessment. The questions will be randomly selected from a databank of three questions per topic. One a student has submitted their assessment they will not be able to resubmit for at least one month. The answers to these questions will then be reviewed by two reviewers within four weeks of submission.
If a participant has provided satisfactory responses to the questions then the participant will be allocated a ‘Pass’ grade. If a participant’s responses are deemed deficient then the participant will be advised that they need to review sections of the course and reattempt the Final Assessment. In this situation participants will be given personalised feedback on their performance in the Topic by Topic Assessments. Participants will then receive access to the course for another four weeks (dated from the receipt of feedback) to reattempt their Final Assessment. Participants will not be presented with the same questions on their second attempt. Participants will only be allowed two attempts to successfully complete the Final Assessment.
Certificate
A certificate evidencing satisfactory completion of the course will be awarded upon successful completion of the final assessment.
Course Demonstration
A demonstration of the Private Health Insurance CPD Education Course is available.
Begin demonstration here
User name : member
Password : member
How to Enrol
Download the enrolment form here.
Brochure
Download the brochure here.
A password will be issued to you to login and commence the course once your application has been processed.
For further information on the Private Health Insurance Course you can contact us via:
T: +61 (0) 2 9233 3466
E: education@actuaries.asn.au
