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Study on the Capital of Domestic Health Funds in an Environment of Interest Rates Close to Zero

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  • Tóth, Balázs
  • Csiki, Máté
  • Kiss, Gábor Dávid

Abstract

Along with demographic, social and technological changes, the burden on the public health care system will grow with the increase in public health expenditure from the central budget; meanwhile, private expenditures continue to snatch a larger piece. The system of health funds is of paramount importance for health care financing and long-term financial planning. However, in 2010, the reserves behind the membership and increasing contributions and thus the accumulated capital were exhausted. In our study, we will examine the factors influencing the capital reserves of health insurance funds with the help of a vector autoregression (VAR) model, focusing on three specifications: the internal processes, the capital market and the health care system. The sample covers the period between 1998 and 2018, with annual data related to all health funds. According to specific models, used memberships, bond markets’ yields, and life-span expectancy have a positive impact on the accumulation of funds by health insurance funds; nevertheless, the information available on the Internet may depreciate enthusiasm towards investment.

Suggested Citation

  • Tóth, Balázs & Csiki, Máté & Kiss, Gábor Dávid, 2019. "Study on the Capital of Domestic Health Funds in an Environment of Interest Rates Close to Zero," Public Finance Quarterly, Corvinus University of Budapest, vol. 64(4), pages 471-493.
    • Handle: RePEc:pfq:journl:v:64:y:2019:i:4:p:471-493
    DOI: https://doi.org/10.35551/PFQ_2019_4_2
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    References listed on IDEAS

    as
    1. Judit Sági & Csaba Lentner, 2018. "Certain Aspects of Family Policy Incentives for Childbearing—A Hungarian Study with an International Outlook," Sustainability, MDPI, vol. 10(11), pages 1-16, October.
    2. Sági, Judit & Tatay, Tibor & Lentner, Csaba & Neumanné Virág, Ildikó, 2017. "Certain Effects of Family and Home Setup Tax Benefits and Subsidies," Public Finance Quarterly, Corvinus University of Budapest, vol. 62(2), pages 171-187.
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    More about this item

    Keywords

    health insurance funds; investment policy; human capital; state bonds; monetary policy;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private

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