Care not cash - the salvation of health insurance?
Health and care insurances have flourished in the UK since the mid 19th century and precede the NHS, which was introduced in 1948. The NHS Plan (July 2000) sets out to significantly increase public expenditures and modernise the NHS, such that some healthcare insurance products may become antiquated and redundant. It remains to be seen whether this aim will become a reality, or whether a large proportion of the public will continue to regard their health insurance benefits as a necessity, in spite of a modernised NHS. It is likely that health actuaries will have an increasingly important role to play as the NHS Plan is implemented over the next few years.