Medibank Private
From Wikipedia, the free encyclopedia
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| Type | Government-owned corporation |
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| Founded | 1976 as arm of the Health Insurance Commission |
| Headquarters | Melbourne, Australia |
| Key people | George Savvides (Managing Director) |
| Industry | Private Health Insurance |
| Products | private health insurance, travel insurance, life insurance, Pet insurance |
| Revenue | ▲ $200.1 million AUD (2006[1]) |
| Website | www.medibank.com.au |
Medibank Private is an Australian government-owned private health insurer, established under the Fraser government in 1976 through the Health Insurance Commission (now known as Medicare Australia). It is Australia's largest health insurance provider with 3 million members, and the only health insurer present in every Australian state and territory. Its Managing Director since 2002 has been George Savvides.
Medibank Private has recently acquired ahm (Australian Health Management), a health insurer based in Wollongong, and the HSA Group.
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[edit] Non-profit/for profit
It operates as a Government Business Enterprise and is run as a not for profit organisation. In May 2009 the Rudd Labor government announced that Medibank would become a for profit business and would therefore in future pay tax on its earnings. The process of converting the status of the business would take some months.[1]
[edit] Privatisation proposal
In April 2006, the then Howard Liberal government announced its intention to privatise Medibank Private if re-elected at the next election[2]. Australian Labor Party policy was for Medibank to remain as a government business enterprise (GBE), reporting to the Minister for Finance.
Following the 2007 election, which Labor won, Medibank Managing Director George Savvides said he looked forward to working with the new Labor government but for Medibank employees and members it would be "business as usual" as they will remain a GBE, "which is what we know, removing the ownership change agenda from our planning process".
[edit] Sponsorship
Medibank is the main sponsor of the Melbourne Tigers in the NBL, Melbourne Storm in the NRL, and the West Coast Eagles in the AFL. It has the naming rights to Medibank Private Stadium (formerly Leederville Oval), home of WAFL teams East Perth and Subiaco. It is also the sponsor of the Medibank International Sydney tennis event.
[edit] Notes
[edit] External links
- Medibank Private
- Dept. of Parliamentary Services research brief on the proposed sale of Medibank Private
- Save Medibank Anti-privatisation site through CPSU
