S.I. No. 33/1925 - National Health Insurance (Valuation) Regulations, 1925.

1. These Regulations may be cited as the National Health Insurance (Valuation) Regulations, 1925.

2.—(1) In these Regulations, unless the context otherwise requires

"The principal Act" means Parts I and III of the National Insurance Act, 1911 (1 & 2 Geo. 5. c. 55);

"the Act of 1913" means the National Insurance Act, 1913 (3 & 4 Geo. 5. c. 37);

"the Act of 1918" means the National Health Insurance Act, 1918 (7 & 8 Geo. 5. c. 62);

"the Act of 1920" means the National Health Insurance Act, 1920 (10 & 11 Geo. 5. c. 10);

"the Acts" means the National Health Insurance Acts, 1911 to 1924;

"the Commissioners" means the Irish Insurance Commissioners;

"society" means an Approved Society, and save as otherwise provided includes a branch of an Approved Society, but does not include the Military Forces (International Arrangements) Insurance Fund or the Dissolved Societies Fund;

"member" means a member of a Society for the purposes of the Acts, other than a person who is over the age of 70 at the date of valuation;

"date of Valuation" means the date as at which the valuation is made;

"value of benefits" means the present value at the date of valuation of the future liability in respect of the benefits, including additional benefits to which the members of a Society are entitled and includes the present value of the future charges in respect of the expenses of administration of benefits;

"value of contributions" means the present value at the date of valuation of such part of the future contributions payable by or in respect of the members of a Society as is applicable to defraying the cost of benefits and the cost of administration.

(2) These Regulations shall have effect as from the 31st day of December, 1923.

(3) The Interpretation Act, 1889,* as modified and adapted by or under the

Adaptation of Enactments Act, 1922

(No. 2 of 1922), applies to the interpretation of these Regulations as it applies to the interpretation of an Act of the Oireachtas.

(4) The National Health Insurance (Valuation) Regulations, 1919 (S.R. & O. 1919, No. 1119), are hereby revoked, without prejudice to any right, privilege, obligation, or liability acquired, accrued, or incurred thereunder.

*52-3 V. c. 63.

PART II.

Valuation of Benefits and Contributions.

3. The value of benefits and the value of contributions shall be estimated on the following basis:—

(i) All members, other than married women who have ceased to have a normal occupation of employment and are entitled to the benefits mentioned in Section 22 of the Act of 1918 as amended by the Act of 1920, or are voluntary contributors to whom proviso (

b

) of sub-section (4) of that section applies, shall for the purposes of valuation be treated as though they were entitled to the ordinary benefits and as though the ordinary contributions were payable by or in respect of them, save that in the case of a member entitled to any additional benefit the value of any outstanding liability in respect of that benefit shall be added to the value of the ordinary benefits;

(ii) The value of benefits and the value of contributions shall, subject as hereinafter provided, be calculated by reference to Tables I, II and III and, in the case of women, by reference also to Tables IV and V in the Schedule to these Regulations;

(iii) Interest shall be calculated at the rate of three per centum per annum;

(iv) Each member of a Society shall be deemed to have been born on the thirtieth day of June—

(

a

) where the year and month of birth are recorded in the membership register, in that year; and

(

b

) where the year and month of birth are not so recorded, in the year obtained by deducting the age next birthday at entry into insurance from the year of entry, provided that where the number of the member in the membership register ends with an even digit, the year so obtained shall be increased by one;

(v) The charge in respect of Sanatorium benefit shall be assumed to be at the rate of 1s. 3d. per annum, and the allowance in respect of expenses of administration (including any sums payable to Insurance Committees) shall be assumed to be at the rate of 4s. 9d. per annum continuing until the member attains the age of 70, and 4d. per annum thereafter;

(vi) For the purpose of calculating the value of contributions it shall be assumed—

(

a

) that the weekly rate of contribution inclusive of the State Grant referred to in Section 81 (10) of the principal Act, applicable to defraying the cost of benefits and the costs of administration is 6·108d. in the ease of a man and 5.530d. in the case of a woman;

(

b

) that the average number of contributions payable in respect of each year of age will be 49·18 reduced by the average number of weeks of sickness and disablement at the age appropriate to the member as shown by Table II in the Schedule to these Regulations; and

(

c

) in the case of women that contributions will not be payable during the period of two weeks before and four weeks after each confinement, the probability of confinement being calculated in accordance with Table III of the said Schedule;

(vii) In the case of unmarried women and widows the contributions and benefits shall be valued as continuing only until marriage or remarriage, as the case may be, and to the value of the benefits there shall be added in each case the present value of £5 8s. 0d. accruing at marriage or remarriage, representing the present value of the liability to the member and to and in respect of the Reserve Suspense Fund under Section 22 of the Act of 1918;

(viii) In the case of employed married women it shall be assumed that one of such women in every ten will be entitled to an additional maternity benefit in respect of her own insurance;

(ix) In the case of women who, having married after their entry into insurance, have ceased to have a normal occupation of employment and are entitled to the benefits mentioned in Section 22 of the Act of 1918 as amended by the Act of 1920, the present value of such benefits shall be the amount obtained by multiplying 50s. by the number of such women who have married and have become so entitled during the year immediately preceding the date of valuation, and by adding to that amount such further sum as may, in the opinion of the valuer, be proper in respect of the liability of the Society for additional benefits to such women;

(x) In the case of voluntary contributors to whom proviso (

b

) to sub-section (4) of Section 22 of the Act of 1918 applies the value of the benefits shall be such sum as the valuer shall consider the circumstances to require.

PART III.

Valuation of Investments.

4. Credits of the Society in the Investment Account of the Commissioners, and mortgages or bonds on real or heritable security or charged on any rates levied by or on the order or precept of any local authority, shall be taken at the amounts at which they sevreally stand in the books of the Society, provided that, in the case of mortgages or bonds on real or heritable security, the Society shall be required to produce such evidence as to the value of the security as the valuer may determine to be satisfactory, and such effect shall be given to any depreciation in that value as the circumstances shall appear to him to require.

5. Investments in stocks, debenture stocks, debentures or other securities of the like nature shall be valued at the middle market price at the date of valuation as shown by the Dublin Stock Exchange Daily Stock and Share List or, where the security is not therein quoted, at the market price at the date of valuation, as otherwise shown to the satisfaction of the valuer.

Provided that the value so determined shall be reduced by the amount of any interest accrued but not due at the date of valuation or at the date of the purchase of the security, as the case may be.

PART IV.

Sundry Liabilities and Assets.

6. There shall be included among the liabilities of the Society

(

a

) any amount due by the Society in respect of claims for benefit which had become payable on or before the date of valuation but had not then been paid;

(

b

) the appropriate part, if any, having regard to the date of valuation, of any sums debited to the Society by the Commissioners after such date;

(

c

) any sums which have accrued but have not become payable in respect of members by reason of their being or having been at or before the date of valuation inmates of hospitals, or other institutions referred to in Section 12 of the principal Act;

(

d

) other sums owing by the Society at the date of valuation.

7.—(1) There shall be included among the assets of the Society

(

a

) the appropriate part, if any, having regard to the date of valuation, of any sums credited to the Society by the Commissioners after such date; and

(

b

) such of the following sums as the circumstances may require:—

(i) any interest on investments which has become due to the Society and is outstanding at the date of valuation, subject to such reduction, if any, as the circumstances may, in the opinion of the valuer, require;

(ii) interest on investments which has accrued up to the date of valuation, but is not then due, subject to the like reduction, if any;

(iii) income tax in respect of interest on investments which has been deducted and is recoverable;

(iv) any balances standing to the debit of the Administration Account, the Benefit Suspense Account, and Additional Benefits Accounts;

(v) such amount as the valuer having regard to the circumstances of each case may deem to be the value of any other sums owing to the Society;

(

c

) any part of the balance in the Administration Account which may be certified by the auditor as having been transferred to the Benefit Fund Account after the date of valuation and before the valuation is completed.

(2) There shall also be included among the assets of a Society, in addition to the outstanding part of the reserve values credited to the Society by the Commissioners, reserve values under sub-section (6) of Section 22 of the Act of 1918, in respect of all insured women members who married within twelve months ending at the date of valuation, and at that date had not ceased to have a normal occupation of employment.

PART V.

Application of Parts III and IV to Societies with Branches.

8. The provisions of Parts III and IV of these Regulations shall have effect in the case of a branch of a Society with such modifications as may be necessary to debit or credit to the branch, as the case may be, its proper proportion of any liabilities, assets or credits of the Society.

PART VI.

Miscellaneous.

9. Where the rules of a Society have been amended since the date of valuation and the Commissioners have consented to the amendment taking effect as from a date not later than the date of valuation, the assets and liabilities of the Society shall be valued as if the amended rules had been in force at the date of valuation.

PART VII.

Payment of Capitalised Values in Cases of Deficiency.

10. Where a deficiency has been shown by a valuation of a Society and under a scheme for making good the deficiency a member is liable to a levy payable at intervals, or to a diminution of benefits, the sum which he is required to pay to the Commissioners in order to relieve himself of the liability to such levy or diminution of benefits, as the case may be, shall be ascertained by reference to Part II of these Regulations and the Tables in the Schedule thereto, with such modifications, if any, as the circumstances may require.

Schedule.

TABLE I.

LIFE TABLE.

Probability that a person of an exact age as shown in the first column will survive one year.

Age

Men

Women

Age

Men

Women

16

·99699

·99738

60

·96834

·97549

17

·99689

·99730

61

·96584

·97334

18

·99678

·99722

62

·96313

·97099

19

·99666

·99713

63

·96018

·96841

64

·95699

·96560

20

·99654

·99703

65

·95352

·96254

21

·99642

·99693

66

·94976

·95922

22

·99629

·99682

67

·94569

·95560

23

·99615

·99670

68

·94129

·95167

24

·99600

·99657

69

·93653

·94742

70

·93138

·94282

25

·99585

·99644

71

·92582

·93783

26

·99568

·99630

72

·91982

·93243

27

·99550

·99615

73

·91335

·92660

28

·99531

·99598

74

·90637

·92030

29

·99510

·99581

75

·89886

·91349

76

·89078

·90614

30

·99489

·99563

77

·88210

·89822

31

·99466

·99544

78

·87276

·88968

32

·99441

·99523

79

·86273

·88047

33

·99414

·99501

34

·99386

·99478

80

·85197

·87054

81

·84043

·85983

82

·82806

·84829

35

·99356

·99454

83

·81480

·83585

36

·99323

·99428

84

·80060

·82245

37

·99287

·99401

38

·99249

·99372

85

·78541

·80800

39

·99208

·99342

86

·76916

·79241

87

·75178

·77559

40

·99163

·99310

88

·73320

·75744

41

·99115

·99277

89

·71336

·73786

42

·99063

·99241

43

·99007

·99203

90

·69219

·71672

44

·98946

·99162

91

·66961

·69388

92

·64554

·66920

45

·98880

·99118

93

·61989

·64253

46

·98809

·99071

94

·59258

·61371

47

·98732

·99019

48

·98648

·98963

95

·56353

·58257

49

·98556

·98901

96

·53266

·54894

97

·49989

·51263

50

·98457

·98833

98

·46515

·47345

51

·98349

·98757

99

·42837

·43122

52

·98231

·98673

53

·98103

·98579

100

·38950

·38579

54

·97964

·98474

101

·34850

·33703

102

·30534

·28491

55

·97813

·98357

103

·26000

·22960

56

·97649

·98227

104

·21246

·17164

57

·97470

·98083

58

·97276

·97923

105

·16270

·11222

59

·970064

·97745

106

·11071

·05363

The above are "central rates,"

i.e

., the ratios of the total number of weeks of sickness or disablement benefit payable during the year of age following the exact age given in the Table to the number of persons alive in the middle of that year of age.

TABLE II.

SICKNESS AND DISABLEMENT BENEFITS.

Average number of weeks Sickness and Disablement Benefits payable to member within one year.

Age

Men

Women

Age

Men

Women

Sick-

ness

Disable-

ment

Sick-

ness

Disable-

ment

Sick-

ness

Disable-

ment

Sick-

ness

Disable-

ment

16

·938

—

1·154

—

45

1·166

·740

1·316

·882

17

·920

—

1·137

—

46

1·202

·799

1·3498

·948

18

·888

·038

1·104

·051

47

1·244

·870

1·388

1·027

19

·849

·054

1·063

·071

48

1·290

·955

1·431

1·120

49

1·340

1·055

1·478

1·229

20

·814

·071

1·025

·094

21

·788

·089

·995

·119

50

1·395

1·172

1·528

1·359

22

·773

·108

·976

·144

51

1·449

1·311

1·579

1·509

23

·769

·127

·968

·170

52

1·507

1·465

1·633

1·676

24

·769

·143

·965

·190

53

1·568

1·639

1·691

1·865

54

1·639

1·828

1·756

2·070

25

·773

·158

·967

·209

26

·776

·170

·968

·225

55

1·716

2·035

1·829

2·292

27

·779

·182

·971

·238

56

1·798

2·264

1·907

2·538

28

·787

·190

·977

·250

57

1·887

2·518

1·992

2·809

29

·797

·201

·985

·263

58

1·979

2·806

2·080

3·117

59

2·074

3·147

2·171

3·480

30

·808

·214

·995

·279

31

·822

·230

1·006

·299

60

2·179

3·553

2·270

3·913

32

·837

·249

1·018

·323

61

2·292

4·044

2·378

4·436

33

·851

·271

1·031

·348

62

2·409

4·633

2·490

5·061

34

·867

·293

1·045

·374

63

2·529

5·316

2·604

5·786

64

2·650

6·087

2·719

6·603

35

·885

·319

1·061

·404

36

·905

·348

1·079

·438

65

2·769

6·646

2·835

7·509

37

·928

·382

1·099

·478

66

2·894

7·899

2·953

8·518

38

·955

·420

1·122

·532

67

3·020

8·971

3·074

9·651

39

·983

·463

1·147

·572

68

3·142

10·183

3·191

10·932

69

3·247

11·543

3·292

12·368

40

1·012

·507

1·174

·621

41

1·043

·551

1·202

·671

42

1·073

·595

1·230

·720

43

1·104

·640

1·258

·772

44

1·134

·687

1·286

·823

The above are "central rates,"

i.e

., the ratios of the total number of weeks of sickness or disablement benefit payable during the year of age following the exact age given in the Table to the number of persons alive in the middle of that year of age.

TABLEIII

MATERNITY BENEFIT.

Probablility of issue to a Member during one year.

Age

Men

Married Woman*

Spinsters and Widows*

Age

Men

Married Woman

16

—

·4000

·0019

45

·0544

·0215

17

—

·6000

·0062

46

·0464

·0119

18

·0015

·6900

·0087

47

·0394

·0056

19

·0089

·6700

·0099

48

·0333

·0021

49

·0279

·0006

20

·0271

·6030

·0105

21

·0533

·5336

·0107

22

·0803

·4759

·0106

50

·0233

·0001

23

·1046

·4291

·0102

51

·0193

24

·1260

·3909

·0095

52

·0159

53

·0130

25

·1440

·3592

·0084

54

·0107

26

·1588

·3327

·0072

27

·1704

·3105

·0057

28

·1791

·2916

·0042

55

·0086

29

·1848

·2753

·0028

56

·0069

57

·0055

30

·1877

·2608

·0015

58

·0045

31

·1882

·2474

·0007

59

·0036

32

·1860

·2344

·0002

33

·1815

·2213

34

·1747

·2080

60

·0029

35

·1661

·1940

61

·0024

36

·1558

·1788

62

·0019

37

·1444

·1622

63

·0015

38

·1323

·1444

64

·0011

39

·1200

·1256

65

·0008

40

·1076

·1062

66

·0006

41

·0956

·0866

67

·0004

42

·0841

·0676

68

·0002

43

·0734

·0499

69

·0001

44

·0635

·0343

The above are "central rates,"

i.e

., the ratios of the total number of weeks of sickness or disablement benefit payable during the year of age following the exact age given in the Table to the number of persons alive in the middle of that year of age.

* Provision for posthumous births is made in the rates applicable to married women and not in the rates applicable to widows.

TABLE IV.

(Applicable to Women only)

Probabilities of Marriage and of becoming a Widow.

Age

Probability of Marriage (Spinsters and Widows)

Probability of becoming a Widow

Age

Probability of Marriage (Spinsters and Widows)

Pobability of becoming a Widow

16

·0071

·0041

45

·0109

·0147

17

·0164

·0041

46

·0098

·0156

18

·0309

·0042

47

·0088

·0166

19

·0494

·0043

48

·0079

·0177

49

·0071

·0190

20

·0689

·0044

21

·0866

·0045

50

·0063

·0205

22

·1005

·0046

51

·0056

·0221

23

·1085

·0047

52

·0049

·0238

24

·1112

·0048

53

·0043

·0255

54

·0037

·0272

25

·1091

·0050

26

·1035

·0052

55

·0033

·0290

27

·0955

·0054

56

·0028

·0309

28

·0862

·0056

57

·0024

·0329

29

·0766

·0058

58

·0021

·0351

59

·0018

·0376

30

·0672

·0061

31

·0586

·0064

60

·0016

·0406

32

·0509

·0067

61

·0014

·0441

33

·0443

·0070

62

·0012

·0479

34

·0386

·0073

63

·0010

·0517

64

·0009

·0555

35

·0338

·0077

36

·0298

·0081

65

·0008

·0594

37

·0264

·0086

66

·0007

·0633

38

·0234

·0091

67

·0006

·0673

39

·0208

·0097

68

·0005

·0715

69

·0004

·0762

40

·0186

·0104

41

·0167

·0112

42

·01580

·0120

43

·0135

·0129

44

·0121

·0138

The above are "central rates,"

e.g

., the probability of marriage of a spinster or a widow is the ratio of the number of marriages in a year of age following the exact age given in the Table to the number of spinsters and widows alive in the middle of that year of age.

TABLE V.

Additional liability in respect of a Married Woman for the year of age following the exact age as shown in the first column.

Age

Amount

Age

Amount

£

£

16

·313

45

·168

17

·390

46

·164

18

·424

47

·162

19

·416

48

·160

49

·160

20

·391

21

·364

50

·160

22

·342

51

·160

23

·324

52

·160

24

·310

53

·160

54

·160

25

·298

26

·287

55

·160

27

·278

56

·160

28

·271

57

·160

29

·265

58

·160

59

·160

30

·259

31

·254

60

·160

32

·250

61

·160

33

·245

62

·160

34

·239

63

·160

64

·160

35

·234

36

·228

65

·160

37

·222

66

·160

38

·215

67

·160

39

·208

68

·160

69

·160

40

·201

41

·193

42

·186

43

·179

44

·173

Given under the Official Seal of the Irish Insurance Commissioners, this 13th day of August, in the year one thousand nine hundred and twenty-five.

PIERCE KENT,

A person authorised by the Irish Insurance Commissioners

to act on behalf of their Secretary.

SAORSTÁT ÉIREANN. STATUTORY RULES AND ORDERS. 1925. No. 33.NATIONAL HEALTH INSURANCE. VALUATION REGULATIONS, 1925.

REGULATIONS (DATED 13TH AUGUST, 1925) MADE BY THE IRISH INSURANCE COMMISSIONERS, WITH THE CONCURRENCE OF THE MINISTER FOR LOCAL GOVERNMENT AND PUBLIC HEALTH, UNDER SECTIONS 36, 38 AND 83 OF THE NATIONAL INSURANCE ACT, 1911 (1 & 2 GEO. 5. c. 55).

The Irish Insurance Commissioners, in exercise of the powers conferred on them by Section 36, sub-section (2) of Section 38, and Section 83 of the National Insurance Act, 1911, and of all other powers enabling them in that behalf, do hereby, with the concurrence of the Minister for Local Government and Public Health, make the following Regulations:—

PART I. I.

Interpretation.