HEALTH INSURANCE

Dominion, Volume 11, Issue 84, 2 January 1918, Page 6

HEALTH INSURANCE

IMPORTANT REFORMS IN THE NEW BRITISH BILL. The British National Health Insurance Bill, formally introduced in the House of Commons, is of much interest to friendly societies, trade unions, and the other approved societies under tho Insurance Act.

It will propose, writes tho lobby correspondent of an English newspaper, that tho existing financial provisions of tho Insurance Acts shall he varied by releasing a part of tho contributions at present carried to the sinking fund for the redemption of reserve values. The moneys thus released are to be applied in increasing the net contribution income of societies, and in setting up reserve and equalising funds. The piovisions of the Act of '1911 requiring branches of societies, and in some cases societfes, to contribute up to one-third of their disposable surpluses towards the deficiencies of other branches or societies are to be repealed.

The valuations of societies are to take place at quinquennial instead of triennial intervals, and societies will bo enabled to reconsider any arrangenienig as to the valuation of their members resident in the United Kingdom. Proposals are made to secure a reduction in the number of special classes for which differential contributions or buiefits are provided, and a simplification in their administration, and arrangements arc also made for the use of-the increased grant of £250,000 which was promised by the Prime Minister.