Increase in Premium Rates for the National Health Insurance and the Long-Term Care Insurance in 2019
Increase in Premium Rates for the National Health Insurance and the Long-Term Care Insurance in 2019
Effective from January 1, 2019, the premium rate of the National Health Insurance has been increased from 6.24% to 6.46% of monthly salary income (excluding non-taxable income). Employer and employee portion each rise from 3.12% to 3.23%, respectively. Meanwhile, the premium of the Long-Term Care Insurance (surcharge of the national health insurance) has been increased from 7.38% to 8.51% of the National Health Insurance premiums.
As an example, if an employee’s monthly average taxable salary is KRW 5,600,000, the employee portion of the National Health Insurance and the Long-Term Care Insurance premiums are calculated as follows:
|
|
2018 (KRW) |
2019(KRW) |
|
National Health Insurance |
5,600,000 * 3.12% = 174,720 |
5,600,000 * 3.23% = 180,880 |
|
Long-Term Care Insurance |
174,720 * 7.38% = 12,890 |
174,720 * 8.51% = 14,860 |