Report of the Royal Commission on National Health Insurance

Bibliographic data

Monograph

Identifikator:: 1740277147

URN:: urn:nbn:de:zbw-retromon-132094

Document type:: Monograph

Title:: Report of the Royal Commission on National Health Insurance

Place of publication:: London

Publisher:: Stationery Office

Year of publication:: 1926

Scope:: XII, 394 S.

Digitisation:: 2020

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VII. The financial resources of health insurance scheme

Collection:: Economics Books

G0 MAJORITY REPORT. tenths of 1d. in the case of women to such amounts as may be actuarially shown to be necessary, without disturbing the redemption period, after the charges and readjustments have been settled. (2) That the Section should also provide that the amount of the weekly contribution to be retained for the purposes of the Contingencies Fund and the Central Fund should be reduced from five-ninths of 1d. to one farthing in the case of men and from two-fifths of 1d. to one farthing in the case of women. (3) That the normal proportion of these reduced sums to be paid to the Central Fund should be increased from one- eighth to one-fourth. (4) That Section 76 (5) of the Act be amended to provide that, consequentially on the reduction of the contribution to the Contingencies Funds, the whole (instead of a maximum of one-half) of the balances of the Contingencies Funds of all Societies with less than 1,000 members should be liable to be pooled to make good deficiencies in any such Societies. (5) That the balances accruing to the credit of the Reserve Suspense Jiund after 81st December, 1926, be made available for averting deficiencies which would otherwise arise on the valuation of Approved Societies by reason of the imposition on their funds of the new charges. AN ALTERNATIVE FINANCIAL SCHEME. 195. Reference may conveniently be made in this Chapter to an alternative financial scheme to that at present in force which has been submitted to us by Mr. Walter Farris and upon which we had the benefit of hearing Mr. Farris in person. Mr. Farris’s proposal is based upon the proposition that the structure of the Act on its financial side is productive of much unnecessary labour and expense, and that, in his own words, ‘if’ we could only break away from this actuarial system much of our labours and troubles would disappear’ (App. XCIV, 8). We cannot attempt to give an exhaustive explanation of the plan which Mr. Farris has submitted, but broadly it is that the reserve values should be abolished and that Societies should cease to be credited with the contributions of their own members or of any sums in redemption of reserve values, being credited yearly in lieu thereof with the amounts estimated to meet the cost of normal benefits to their members during the following year ; such amounts being computed in each case on the actuarial basis of the Act and in accordance with the ages of the members of the Society or branch. Incidentally, the scheme would require, as Mr. Farris admitted (Q. 22,328-22,3392), the transfer to the Central Depart- ments of all the securities in the hands of the Societies repre- senting funds invested by their own trustees and amounting at the present time to between £40 and £50 millions. In this direction, therefore, the proposal would eliminate one of the most

Access restriction

Copyright

fullscreen: Report of the Royal Commission on National Health Insurance

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation