The Supervisory Board consists of 15 members. The Minister of Social Affairs, The Minister of Finance and the Chairman of the Social Affairs Committee of the Parliament are members of the Board by virtue of office. On the proposal of the Social Affairs Committee the Parliament designates one Member of Parliament as a member of the Supervisory Board. On the proposal of the Minister of Social Affairs the Government designates one official of the Ministry of Social Affairs as a member of the Supervisory Board, and five members of the Board on the proposal of the organisations representing the interests of insured persons and five members of the Board on the proposal of employers’ organisations.

The Minister of Social Affairs is the Chairman of the Board by virtue of office. The members of the Board shall elect a Deputy Chairman from amongst themselves. In the absence of the Chairman of the Board the Deputy Chairman takes over the formers functions.

The Supervisory Board shall:

1) approve the development plan of the Health Insurance Fund;

2) after hearing the opinion of the Management Board, make through the Minister of Social Affairs a proposal to the Government as regards the  improvement of the health of the insured, the prevention of diseases and the establishment of reference prices and limits applicable to the payment for health services and to the distribution of the medicinal products subject to a discount;

3) on the proposal from the Management Board, approve the budget of the Health Insurance Fund in the light of the state budget;

4) on the proposal from the Management Board, approve the structure of the Health Insurance Fund;

5) on the proposal from the Management Board, approve the internal rules of procedure and the administrative procedures and the database maintenance rules;

6) on the proposal from the Management Board, approve the accounting policies and procedures;  

7) on the proposal from the Management Board, decide on the acquisition, transfer and encumbrance of immovable property and the movable property already registered or to be entered in the register, and the taking of loans;

8) designate and remove the Chairman of the Management Board;

9) designate and remove the members of the Management Board on its own initiative or on the proposal from the Chairman of the Management Board;

10) decide on the conclusion of the contract of service with the Chairman of the Management Board and, on the proposal from the Chairman of the Management Board, the conclusion of contracts of service with the members of the Management Board;

11) decide on the filing of financial claims against the members of the Management Board;

12) approve, after hearing the opinion of the Chairman of the Management Board, the remuneration and additional remuneration of the members of the Management Board;

13) approve the reports submitted by the Management Board and the requirements concerning such reports;

14) appoint the auditor of the Health Insurance Fund and determine the amount of  the auditor’s remuneration after hearing the opinion of the Management Board;

15) provide opinions to the Minister of Social Affairs concerning the proposed amendments to the Statutes of the Health Insurance Fund;

16) where appropriate, set up committees and determine their members and functions;

17) examine the documents of the Health Insurance Fund and verify or order relevant third parties to verify the accuracy of the accounts of the Health Insurance Fund, the existence of property, the conformity of the Fund’s activities with the law, the Fund’s Statute and the decisions of the Supervisory Board;

18) where appropriate, require the Management Board to present overviews of the activities and the financial situation of the Health Insurance Fund, information on the considerable deterioration of the financial situation of the Fund and on other  relevant  circumstances concerning the activities of the Fund;

19) immediately inform the Government of the considerable deterioration of the financial situation of the Health Insurance Fund and of other  relevant  circumstances concerning the activities of the Fund;

20) on the proposal from the Management Board, approve the bases of entering into contracts with the providers of health services, the criteria of selecting contracting parties and the conditions relating to the availability of health services;

21) approve the requirements concerning the establishment of the draft budget of the Health Insurance Fund;

22) on the proposal from the Management Board, approve the plan for the monthly breakdown of budgeted expenditure;

23) where appropriate, adopt the supplementary budget of the Health Insurance Fund by either increasing or decreasing the income and expenditure of the Health Insurance Fund in a balanced manner;  

24) on the proposal from the Minister of Finance, designate the external trustee of the legal reserve of the Health Insurance Fund;

25) announce the competition for finding the manager of the budgetary cash reserve of the Health Insurance Fund and designate this manager, taking account of the proposals from the Management Board;

26) establish, as regards the management of the cash reserve, restrictions on currency, credit and liquidity risks and, where necessary, on other investment risks;

27) approve the financing of expenditure which causes the budgetary cash reserve of the Health Insurance Fund to fall below 5 percent;

28) provide an opinion to the Minister of Social Affairs concerning the employment of the legal reserve of the Health Insurance Fund;

29) decide on the effecting of transactions on the account of appropriations for the next year, if such transactions exceed 25 percent of the respective appropriations for the current year;

30) submit to the Government once a year through the Minister of Social Affairs a report on the economic activities of the Health Insurance Fund in accordance with the procedure laid down by the Minister of Finance;

31) approve the annual accounts and the annual report;

32) organise a competition for filling the office of the Chairman of the Management Board in accordance with the terms and conditions laid down in this Regulation and, where necessary, designate the acting Chairman of the Management Board;

33) determine the general terms and conditions of the contracts of service to be made with the Chairman and the members of the Management Board;

34) designate a member of the Management Board to perform the tasks of the Chairman of the Management Board during the period from the removal of the Chairman to the designation of the new Chairman;

35) determine the restrictions on the right of representation of the members of the Management Board;

36) give an opinion on the legality of the decisions of the Management Board or the Chairman of the Management Board in cases where a member of the Management Board has informed the Chairman of the Supervisory Board, or in the absence of the latter, the Deputy Chairman of the Supervisory Board that the relevant decision is in contradiction with the law or provisions of this Regulation;

37) elect the Deputy Chairman of the Supervisory Board;

38) approve the rules of procedure of the Supervisory Board;

39) approve the insurer chosen by the Management Board and the terms and conditions of the liability insurance contract to be concluded in favour of the members of the Supervisory and the Management Board;

40) approve the regulations concerning the insignia of the Health Insurance Fund;

41) approve the annual action plan of the Health Insurance Fund.

 The Supervisory Board supervises the Management Board.