Voluntary Health Insurance Act, 1957

Schemes of voluntary health insurance.

4.—(1) The Board shall make and carry out a scheme of voluntary health insurance for defraying, to such extent as the Minister may from time to time specify, the cost to persons paying subscriptions to the Board in respect thereof, and to dependants of such persons, of such medical, surgical, hospital and other health services as the Minister may from time to time specify.

(2) The Board may make and carry out such other schemes of voluntary health insurance as it may think fit, subject to the consent of the Minister in regard to the scope and extent of the benefits.

(3) A scheme under this section may be amended by a subsequent scheme made by the Board, subject to the consent of the Minister in regard to any amendment relating to the scope or extent of benefits.

(4) The Board shall so fix the subscriptions provided for by schemes under this section that taking one year with another the revenue of the Board from subscriptions together with its other revenues (if any) shall be sufficient, but only sufficient (as nearly as may be), after the Board has made such allowance as it thinks proper for reserves, depreciation and other like purposes, to meet the charges (including repayments of loans to the Minister) properly chargeable to revenue.