State insurance to cover more medical costs of people in low-income bracket

SEOUL, June 1 (Yonhap) -- South Korea's national health insurance will provide greater medical coverage for people in the low-income bracket starting in July, health officials said Friday.

A total of 4.51 million households with less than 1 million won (US$950) in annual income will pay a minimum amount of 13,100 won per month for the National Health Insurance system starting July 1, according to the Ministry of Health and Welfare and the National Health Insurance Service.

Workers in the top 1 percent income bracket of 78.1 million won a month are set to pay 3.09 million won as insurance fees per month from 2.44 million won, the ministry said. The insurance fees of the other 99 percent of workers will remain the same.

Under the law, South Koreans are required to join the system, and foreigners living in South Korea can also subscribe to the system. The number of people who are covered by the National Health Insurance system was 52.43 million at the end of 2017.

The change came as the government has vowed to greatly expand medical coverage by the state-run health care program in line with its efforts to reduce the financial burdens of patients.

khj@yna.co.kr
(END)