The construction of a price index for contributions to South African open medical schemes

Journal Article

2013

Authors
Journal Title

South African Actuarial Journal

Journal ISSN
Volume Title
Publisher

Acturial Society of South Africa

Publisher

University of Cape Town

Series
Abstract
An accurate measure of the change in the price of medical-scheme cover over time is necessary to inform health and social-security policy, and would provide consumers, employers and the regulator with a useful benchmark. A medical-scheme contribution index based on gross contributions to open medical schemes is constructed using the Paasche formula and a sample of schemes for the period 2006 to 2010. The results of the index indicate a 17,48% increase in real contributions over the period.
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