asked the Minister for Social Welfare if he will state the total value of the funds at present to the credit of the National Health Insurance Society.
Ceisteanna—Questions. Oral Answers. - National Health Insurance Society's Funds.
The estimated total value of the funds to the credit of the National Health Insurance Society at 31st December, 1946, was £4,496,000. This estimate takes no account of the value of the contributions due to be credited to the society in respect of the second half of 1946 which, owing to the introduction last July of a yearly, in lieu of a half-yearly, contribution card, will not be brought to account till 1947. The estimated value of these contributions is £372,000.
Would the Minister say if there is an actuarial valuation made of this fund from time to time?
Every five years.
Would he be able to tell us when the last was made, when the next is due and what, if any, surplus was disclosed, by the last valuation?
The last valuation has just been completed, as a matter of fact, within the last few months.
Can the Minister tell us was there a surplus?
There was an announcement made about the surplus. The estimated surplus was £250,000 or £300,000 per year and it is being spent on medical benefits.
Benefits extended to patients absorb all the surplus?
Yes.