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Luxembourg’s Ministry of Social Security has reported that the quadripartite committee met on Wednesday 8 November 2023 at the Cité de la Sécurité Sociale in Luxembourg-Gare.
The quadripartite committee, which brings together all stakeholders responsible for the governance and functioning of health and maternity insurance, conducted a review of the financial status of health and maternity insurance, presenting the financial projections for the years 2023 and 2024.
According to the most recent estimates, health and maternity insurance are anticipated to achieve a positive operating result of €24.9 million for the 2023 fiscal year, contrasting with the deficit of €41.6 million recorded in current operations for the 2022 financial year.
Revenues, displaying a more favourable trend than initially projected for 2023, are expected to rise to €4,284.5 million. This increase is deemed sufficient to counterbalance the trajectory of expenses, projected to reach €4,259.7 million in 2023.
Consequently, the overall cumulative balance is set to grow from €861.6 million in 2022 (equivalent to 21.8% of current expenditure) to €886.5 million in 2023 (equivalent to 20.8% of current expenditure).
Despite the more optimistic evolution of revenue in 2023, which surpassed expectations from the previous quadripartite committee meeting, driven by factors such as indexation, lower-than-expected expenditure on various benefits and a decrease in COVID-19-related expenses, the trajectory of expenses remains elevated.
As a result, the latest estimates for the 2024 fiscal year indicated a deficit of approximately €51.9 million for current operations, influenced by a certain shift in expenditure from 2023 to 2024.
The cumulative overall balance is projected to decline to €834.6 million, constituting 18.2% of the estimated current expenditure for the year 2024. Despite this decrease, the balance remains above the legal minimum requirement of 10%.
