Are you going to stay in Korea for a long time?
If you have been treated at hospital in Korea and the hospital fee seems expensive, I think you need to talk to 'Reasonable Insurance Services' in Korea.
There is 'National Health Insurance' in Republic of Korea(South Korea, ROK). This service is also available for foreigners. If a foreigner pays insurance premiums while staying in the ROK, he / she is entitled to the benefits of the National Health Insurance as the Korean. #
If you sign up for this, you can reduce your medical expenses a lot. But most Koreans think this is not enough. Rather, Koreans want to be rewarded more than the cost they pay to the hospital.
The following is a receipt that Korean who has a cold went to the hospital for treatment.
- Case : Child, pneumonia, hospitalization for 4 days
- ①+ⓐ+ⓑ+ⓒ = Total hospital cost : KRW 552,066 (≒ $476.54)
- ① = National Health Insurance contribution : KRW 375,165 (≒ $323.84)
- ⓐ+ⓑ+ⓒ = ② = Patient-paid hospital expenses : KRW 176,901 (≒ $152.70)
For this patient, I received a receipt from this patient that paid 32% of the total hospital cost. then I handed this receipt to a private insurance company, resulting in KRW 159,210 insurance money and additional KRW 120,000 for him.
How did he get more money than the hospital fee?
He was in two insurance services :
1. Actual Medical Expenses Insurance (실손의료비보험)
2. Insurance Coverage for Each Day of Hospitalization for Illness (질병입원일당)
The actual medical expenses insurance is a private insurance service that 70% of Koreans have joined. As a result of the national insurance services and the additional private insurance services, Koreans do not feel a large medical burden.
You can sign up the actual medical expenses insurance provided by the private insurance company at a lower cost than the National Health Insurance premium that covers 60% of the medical expenses.
You need to know the difference in advance.
National Health Insurance is a health welfare service that everyone can join, whether they are sick or not. Private insurance services are available only to people who do not currently have a large medical history. So the premiums are cheaper and only 70% of the people were able to join the insurance.
You do not need to join this service if you do not stay in Korea for a long time or if you think you are healthy enough and do not have to go to the hospital. Or if you are employed by a company such as Samsung Electronics, you will already be subscribed to this insurance service.
The actual medical expenses insurance is the insurance that supports the National Health Insurance. If you are enrolled only in the actual medical expenses insurance without enrolling in the National Health Insurance, you can only receive 40% of the total medical expenses.
If a 40-year-old foreigner lives in Korea, he or she will pay a national health insurance premium of about 100,000 won per month. (This may vary depending on income and type of residence) However, the actual health insurance premium is under 30,000 won.
If you want to join these insurance services, you must meet the following conditions.
- Foreigner registration number or Resident registration number is required.
and if you have any questions about insurance services in Korea, please send an e-mail to all_risk@naver.com or text message to +82 10-4399-1028.
※ All of this documentation is thanks to Google Translator.
