European Parliament Library

The Macroeconomic Impact of Healthcare Financing Alternatives :, Reform Options for Hong Kong SAR

Abstract
With much healthcare publicly funded, Hong Kong's rapidly aging population will significant raise fiscal pressure over coming decades. We ask what the implications are of meeting these costs by public funding, or private funding voluntarily or through mandates. Our simulations suggest that without early reform, these costs quickly become unsustainable. Prefunding is key. Whether this is done through the public system or through mandatory private provision is less important. Voluntary schemes are likely to result in insufficient savings without tax incentives. Even then, voluntary accounts are unlikely to yield better macroeconomic outcomes, while mandates tend to produce more equitable consumption
Table Of Contents
Contents; I. Introduction; II. Hong Kong SAR's Rising Healthcare Cost Challenge; A. Background-Scope of the Challenge; B. Options to Limit Healthcare Costs-Your Health, Your Life; C. How Do We Assess the Impact of the Alternatives?; III. Global Fiscal Model; IV. The Macroeconomic Impact of Financing Reform Options; A. Direct Government Funding and Social Insurance; Figures; 1. Macroeconomic Effects Baseline; 2. Macroeconomic Impact of Prefunding; B. Private Funding of Rising Healthcare Costs; 3. Macroeconomic Effects Mandatory Healthcare Savings: Private Versus Private-Public Funding
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (33 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451994308

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