Medibank Private

Medibank Private Health Insurance

Medibank Private is an Australian government-owned personal health insurer, established under the Fraser government in 1976 through the health insurance Commission. It is Australia’s biggest medical insurance supplier with 3 million members, and the sole health insurer present in every Australian state and territory. Its handling Director since 2002 has been George Savvides. Medibank Private has lately acquired AHM ( Australian Health Management ), a health insurer based in Wollongong.

Non-profit/for profit

It operates as a regime Business corporation and is run as a not for profit organisation. In May 2009 the Rudd labor government commented Medibank would become a for profit business and would therefore in future pay tax on its earnings. The process of changing the status of the business would take some months.

Privatisation proposal

In Apr 2006, the then Howard Liberal regime asserted its target to privatise Medibank personal if re-elected at the next election. Australian work Party policy was for Medibank to remain as a central authority business company ( GBE ), reporting to the Minister for Finance.

Following the 2007 election, which work won, Medibank handling Director George Savvides asserted he looked forward to working with the new work government but for Medibank staff and members it’d be’business as usual’ as they will remain a GBE,’which is what we know, removing the possession change agenda from our planning process’.

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 groups East Perth and Subiaco. It’s also the sponsor of the Medibank international Sydney tennis event.