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Medibank began as an Australian Government private health insurance scheme, established by the Whitlam government in 1975 through the Health Insurance Commission. [4] In its original form, it was a universal health insurance programme funded through taxation, that also ensured free treatment at public hospitals and provided subsidies to private hospitals.
He chaired the Stewardship Committee (Finance Committee) and was a member of the World Vision International Executive Committee. [5] He is a Fellow of the Australian Institute of Company Directors. [10] On 21 October 2015 Savvides announced his retirement from Medibank, which took effect at the end of March 2016. [1] [11]
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In 1976, the Fraser Government introduced a 2.5% levy and split Medibank in two: a universal scheme called Medibank Public and a government-owned private health insurance company, Medibank Private. In 1984, Medibank Public was renamed Medicare by the Hawke Labor government, which also changed the funding model, to an income tax surcharge, known ...
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