Commutation Functions for Individual Policies Providing for Hospital, Surgical, and Medical Care Benefits After Retirement [Discussion]

Mr. Steinhaus’ paper is a very timely one. The much discussed Forand bill and its Republican counter-measure the Javits bill threaten to become a serious election issue. The rising cost of hospital care and the limited financial resources of the vast majority of the aged create a serious challenge to the insurance industry and unless it can come up very shortly with a satisfactory solution, government intervention will become inevitable and we are all well aware of the concomitant danger of socialized medicine.