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Health Insurance Fund (Miscellaneous Provisions) (Amendment) (Jersey) Law 201-: Draft

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A decision made 21 September 2012:

Decision Reference: MD-S-2012-0076

Decision Summary Title :

DS – Draft Health Insurance Fund (Miscellaneous Provisions) (Amendment) (Jersey) Law 201-

Date of Decision Summary:

21 September 2012

Decision Summary Author:

Policy and Strategy Director

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

WR  – Draft Health Insurance Fund (Miscellaneous Provisions) (Amendment) (Jersey) Law 201--

Date of Written Report:

21 September 2012

Written Report Author:

Policy and Strategy Director

Written Report :

Public or Exempt?

 

Public

Subject: Draft Health Insurance Fund (Miscellaneous Provisions) (Amendment) (Jersey) Law 201--

Decision(s): The Minister decided to lodge ‘au Greffe’ the Draft Health Insurance Fund (Miscellaneous Provisions) (Amendment) (Jersey) Law 201--

Reason(s) for Decision:

The amendment creates three additional transfers from the Health Insurance Fund to the Consolidated Fund for the years 2013, 2014 and 2015.

 

The transfers are included within the cash limits set out in the Medium Term Financial Plan to be debated by the States Assembly on 6 November but separate primary legislation is required to approve these transfers.

Resource Implications:

 

There are no manpower implications.

 

The financial implications are for the years 2013, 2014 and 2015 and will be met from within the accumulated surplus within the Health Insurance Fund, which amounted to £80 million as at 31st December 2011.

 

The accumulated surplus within the Health Insurance Fund is designed to provide for the increasing cost of current medical and pharmaceutical benefits as the proportion of elderly people increases significantly over the next 20 to 30 years. Drawing funds down now will bring forward the timetable for an increase in contribution rates.

 

The effect of these proposals will be to place the Fund into annual deficit in 2014 and 2015.

 

 

Action required: Policy and Strategy Director to request the Greffier of the States to lodge ‘au Greffe’ the draft legislation and to request a States debate on the sitting commencing 6 November 2012.

Signature:

 

 

Position:

Minister

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

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