James Reilly (Dublin North, Fine Gael) | Oireachtas source

I move amendment No. 2:

In page 4, between lines 7 and 8, to insert the following:"(a) in subsection (1)(a), (b) and (c), by substituting "1 May" for "1 April”,".

My priority is the implementation of a robust risk equalisation scheme while minimising the impact on the ability of insurers to carry out their business.

Under section 7F(1) of the Health Insurance Act 1994, registered undertakings are obliged to maintain and furnish information returns, including a statement of profit and loss and a balance sheet, before 1 April each year, while the Central Bank also requires all insurance companies to submit their returns within four months of the end of the financial year which in the vast majority of cases is 31 December. Therefore, most firms are obliged to submit their returns on or before 30 April. In order to reduce the administrative burden arising from having two separate dates for related data sets, I am extending the deadline for the making of returns to 1 May, which will have the practical benefit of providing insurers with an additional month to finalise their preparations and meet the requirements laid down.