Health Insurance

Health Insurance aims at filling a gap in actuarial literature, attempting to solve the frequent misunderstanding in regards to both the purpose and the contents of health insurance products (and 'protection products', more generally) on the one hand, and the relevant actuarial structures on the other. In order to cover the basic principles regarding health insurance techniques, the first few chapters in this book are mainly devoted to the need for health insurance and a description of insurance products in this area (sickness insurance, accident insurance, critical illness covers, income protection, long-term care insurance, health-related benefits as riders to life insurance policies). An introduction to general actuarial and risk-management issues follows. Basic actuarial models are presented for sickness insurance and income protection (i.e. disability annuities). Several numerical examples help the reader understand the main features of pricing and reservingin the health insurance area. A short introduction to actuarial models for long-term care insurance products is also provided. Advanced undergraduate and graduate students in actuarial sciences; graduate students in economics, business and finance; and professionals and technicians operating in insurance and pension areas will find this book of benefit.

Ermanno Pitacco is full professor of Actuarial mathematics and Life insurance technique, in the University of Trieste, and academic director of the Master in Insurance and Risk Management at the MIB School of Management of Trieste. He has been visiting professor in various universities (recently: University of New South Wales, Sydney; University of Louvain-La-Neuve; University of Liubljana). Main fields of scientific interest are life and health insurance mathematics and techniques, pension mathematics, longevity risk, portfolio valuations. He is author or coauthor of textbooks and papers in the fields of scientific interest. His papers have been published, among the others, on: Insurance Mathematics & Economics, ASTIN Bulletin, Journal of Pension Economics and Finance, Belgian Actuarial Bulletin, Journal of Actuarial Practice, Applied stochastic models in business and industry, AStA Advances in Statistical Analysis, Giornale dell'Istituto Italiano degli Attuari.

The individual perspective: the need for health insurance.- The insurer's perspective: managing risks.- Health insurance products.- Introduction to actuarial aspects.- Actuarial models for sickness insurance.- Actuarial models for disability annuities.