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The Scheme of National Health Insurance considered in relation to the Valuations of Approved Societies as at 31 December 1918

Published online by Cambridge University Press:  18 August 2016

P. N. Harvey
Affiliation:
Government Actuary's Department

Extract

The scheme of National Health Insurance, apart from its general interest to the student of social questions, presents many technical features of special interest to the actuary, and it has been suggested that the completion of the first valuations of approved societies, i.e., the societies administering the monetary benefits of the system, affords an opportunity for discussion of the scientific problems to which these features give rise. With the Government Actuary's consent, I therefore submit in the following paper an examination of some of the more important points of actuarial interest which have emerged in the course of the valuation work. Before approaching the main theme of the paper, however, I have described briefly certain factors, such as the principal alterations made in the financial structure of the scheme by the Act of 1918, a knowledge of which is essential to an understanding of the later part of the paper. These preliminary remarks are placed in Part I, the main subject being dealt with in Part II.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1923

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References

page 150 note * Vide Report by the Government Actuary on the Valuations of the Assets and Liabilities of Approved Societies as at 31 December 1918 (Cmd. 1662).

page 151 note * The calculation of reserve values is referred to in par. 17.

page 152 note * This Exchequer grant was suspended as from 1 January 1921.

page 153 note * This Fund was abolished as from 1 January 1922.

page 158 note * The recoupment grant from the Exchequer in respect of men discharged from the Forces was discontinued as from 1 January 1921.

page 160 note * Now called the National Health Insurance Fund Investment Account.

page 181 note * Reviewed in J.I.A., vol. xlviii, p. 109 et seq.

page 184 note * The formula here given is not now appropriate owing to the increase of benefits provided for by the Act of 1920.

page 186 note * See Note under Table XVII (p. 187).

page 190 note * See, however, Sir A. W. Watson's remarks later.