The framework for risk equalisation is set out in the Health Insurance (Amendment) Act, 2001. The provisions of this Act reflect a development in the approach to the implementation of risk equalisation by providing for an independent statutory body, the Health Insurance Authority, to have significant discretion in relation to recommending when risk equalisation should commence.
The Act provides that the Minister cannot introduce risk equalisation without having received such a recommendation from the authority, or without having consulted with the authority regarding its introduction.
The detailed arrangements relating to the implementation of these provisions, will be set out in the risk equalisation scheme to be prescribed under section 9 of the Act. My Department is currently engaged in finalising the necessary regulations, for submission for approval by each House of the Oireachtas, and is in consultation with the Health Insurance Authority in the matter.