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The Department recently went to tender for the provision of “actuarial and insurance advisory services”, with the expenditure on services covered by the proposed contract expected to amount to €300,000.
The successful firm will be involved in the preparation of papers on the health insurance market, providing advice and analysis of market data.
It will provide intelligence on health insurance trends to help identify implications for the existing market structure and as an aid to inform future sustainability of the health insurance market.
This may include an annual future forecast of the likely structure of the health insurance market (eg, 10-year forecast), taking account of ageing of the population and likely demographic changes, premium inflation and other relevant contributors over that time frame that may influence overall market structure into the future.
The firm will also conduct an annual review of the Health Insurance Authority’s (HIA’s) reports to the Minister for Health on the evaluation and analysis of returns, including advice on risk equalisation credits.
It will be required to provide actuarial and insurance advice on any other regulatory issues that may be required to support the private health insurance market that may arise during the term of this contract, as well as professional opinion where appropriate on: Trends and developments in the domestic and international health insurance market; consideration of insurance issues generally as they impact on health insurance; and health insurance issues that may occur from queries from the EU Commission.
“While it is difficult at the outset to estimate all of the work that will arise in 2017 and 2018, additional work will be required as we embark on a complex project involving the introduction of a refined health status measure using diagnosis-related groups (DRGs) coding,” according to the tender documents.
In carrying out the work, the successful firm’s reporting relationship will be to the Department of Health.
They will also liaise with the HIA and legal advisors or any person the Department considers necessary, which will be established by the Department on an ongoing basis.
The deadline for the tender is 5 September.