Understanding the National Health Insurance Fee: What You Need to Know
Have you ever been perplexed by the National Health Insurance fee listed on your hospital bill? You’re not alone! Many individuals are unfamiliar with the specifics of this charge, despite its significance in the healthcare sector. In this article, we’ll delve into the fundamentals of the National Health Insurance fee and explain what you need to know.
What is the National Health Insurance Fee?
The National Health Insurance fee is a mandatory contribution paid by every individual residing in South Korea. The purpose of the fee is to ensure that everyone has access to quality medical care. Despite the fact that the contribution is mandatory, it is modest and linked to your income.
The National Health Insurance fee is divided into two categories: National Health Insurance (NHI) contributions and long-term care insurance (LTCI) contributions. While the National Health Insurance contributions cover general medical expenses, the LTCI contributions are designed to assist those who require long-term medical care.
Who Must Pay the National Health Insurance Fee?
Both Koreans and foreign residents in South Korea are required to contribute to the National Health Insurance system. If you are employed, your employer is required to contribute as well. However, if you are self-employed, you are responsible for paying both the employee and employer contributions.
How are National Health Insurance Contributions Calculated?
As previously stated, the National Health Insurance fee is calculated based on income. The amount of the contribution varies depending on the type of income one receives. Medical insurance premiums are determined by calculating 5.08% of earned income, 7.58% of self-employed income, and 135,000 KRW per month for those who earn income through property rent, annuities, and other sources.
What Services Does National Health Insurance Cover?
National Health Insurance covers a variety of medical services, including hospital stays, prescription medicines, lab tests, and surgeries. However, not all medical services are covered by National Health Insurance. Cosmetic surgeries, dental procedures, and other non-medical expenses are examples of expenses that must be paid for out of pocket.
Conclusion
Understanding the National Health Insurance fee is critical to ensuring that you receive quality medical care. Being informed about the fee will enable you to plan for medical costs and have a better understanding of what services are covered by National Health Insurance. Remember, by contributing to the National Health Insurance system, you are contributing to a healthier society.
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