Corporate subscribers of state health insurance in South Korea will have to pay more than seven percent of their monthly income for the premium next year.
The Ministry of Health and Welfare on Tuesday announced that the percentage of a paycheck that covers state health insurance contributions will rise by one-point-49 percent in 2023.
The state health insurance rate is currently limited to eight percent of a corporate subscriber’s income.
With the hike, an average company worker in South Korea will pay 146-thousand-712 won, or nearly one-hundred-nine U.S. dollars, per month next year, an increase of two-thousand-69 won from this year.
For the local subscribers, those not insured through a company, the payment will rise by one-thousand-598 won to 107-thousand-441 won.
The ministry said the rate increase was inevitable as the average payment by local subscribers is set to decrease under the revised health insurance calculation system, which will take effect from September.
Source: KBS World Radio