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   MERCER Study

 

          The Mercer Actuarial Study for the Cyprus National Health Expenditure and the National Health System (NHS)

Mercer has been asked by the Health Insurance Organisation (HIO) of Cyprus to provide an updated actuarial estimation of the Cyprus National Health Expenditure (NHE), the National Health System (NHS) expenditure and the contribution rates required to finance the NHS.

This report has been prepared in accordance with the requirements of the Memorandum of Understanding on Specific Economic Policy Conditionality between the Republic of Cyprus and the European Commission acting on behalf of the European Stability Mechanism.

To reflect the current economic situation, Mercer has developed a composite model of the Cyprus healthcare system, incorporating an economic analysis within an actuarial approach.

The Mercer report was finalised in October 2013 and the key findings were as follows:

1. The financing of the NHS will be achieved with a marginal increase in the contribution rates, as these were set in the 2001 Law for the National Health System,

2. The NHS implementation will result in 292 million savings for the economy, for the period between 2016-2025, due to the best practices and controls that are integrated within the System, and

3. The introduction of the NHS will contribute towards a fairer allocation of the health expenditure financing and a more efficient use of available resources.

Finally, the report indicates that the total State's contribution towards financing the NHS will not be higher than that under the current system and that the contribution rates will not be significantly higher than those initially agreed by social partners.

               

   

 


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