SEOUL, Oct. 4 (Korea Bizwire) — South Korean authorities said Thursday they are pushing to revise relevant laws governing the management of state health insurance schemes amid growing criticism that some foreigners are taking advantage of the system. By law, South Koreans are required to join the system, and foreigners living in South Korea can [...]
SEOUL, Sept. 3 (Korea Bizwire) — Starting this month, the government is expanding a trial run of allowing more medical institutions to join the hospice industry. According to the Ministry of Health and Welfare and the Health Insurance Review and Assessment Service, 14 new hospice institutions providing either home or consultation hospice services were given [...]
SEOUL, Aug. 28 (Korea Bizwire) – South Korea said Tuesday that foreigners should stay at least six months to be eligible for the country’s health insurance program in a move to keep them from taking advantage of a loophole in the system. Currently, foreigners who stay in South Korea for more than three months can [...]
SEOUL, Jun. 7 (Korea Bizwire) — South Korea said Thursday it will strengthen regulations in the country’s health insurance program to prevent foreigners from taking advantage of a loophole in the system. The minimum stay requirement to receive benefits from the national insurance program will be extended from the current three months to six months, [...]
SEOUL, March 2 (Korea Bizwire) – People with monthly salaries exceeding 4.49 million won (US$4,155) will pay more for state health insurance starting in July, the government said Friday. According to the Ministry of Health and Welfare, a total of 2.44 million people, 13.6 percent of company-subscribed state insurance payers, will pay a maximum of [...]
SEOUL, Sept. 15 (Korea Bizwire) — Health care costs for foreigners covered by South Korea’s state health insurance have more than doubled over the past five years as more subscribe to the scheme, data showed Friday. The total medical cost for covered foreigners came to 553 billion won (US$487 million) last year, up 109 percent [...]
SEOUL, May 4 (Korea Bizwire) – The latest data from the National Health Insurance Corporation has revealed that South Korea may have to spend over 90 trillion won ($79.5 billion) annually by 2030 – when the baby boomers (born 1955 to 1963) enter their old age – on health care for seniors. According to the [...]
SEOUL, April 12 (Korea Bizwire) – Obtaining discounts on health insurance premiums will become much easier for South Koreans starting in July. Discounted contracts, which provide up to 20 percent discounts on existing installments, are offered by 14 insurance companies for healthy individuals who meet certain health standards. However, only 3.8 percent of the subscribers [...]
SEOUL, Feb. 20 (Korea Bizwire) – Following criticism of recurrent foot-and-mouth disease outbreaks in South Korea, the Ministry of Agriculture, Food and Rural Affairs announced Sunday that it will introduce a pilot project for a mutual aid system that will function much like a health insurance policy for cattle. The “premiums” will be split fifty-fifty [...]
SEOUL, Jan. 23 (Korea Bizwire) – South Korea is pushing to revise its national health insurance program to halve the fees for low income earners in an effort to make health care more affordable, officials said Monday. The Ministry of Health and Welfare released a revision to the national health insurance system, subject to parliamentary [...]