Fed: Administrator appointed to Federation Health fund

AAP General News (Australia)
12-14-2004
Fed: Administrator appointed to Federation Health fund

The private health insurance watchdog has sacked the board of Victoria-based medical
fund Federation Health and replaced it with an administrator.

After an 18-month investigation of the fund, the Private Health Insurance Administration
Council has appointed administrator PETER HEDGE for three months.

Earlier this year, financial difficulties forced the fund to sell off its chain of
pharmacies in regional Victoria.

Council chief GAYLE GINNANE says Federation Health isn't in breach of its solvency
requirement and its claims will be paid as usual.

AAP RTV kbw/sb/wjf/lm 8

KEYWORD: FEDERATION (CANBERRA)

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