If You Rose Last Year, 10M Must Pay 200K Won
- SEOUL, South Korea – South Korea's national health Insurance Corporation (NHIC) is finalizing health insurance premium settlements this month, reflecting adjustments based on earned income.
- A considerably larger portion of the workforce, totaling 16.56 million people, will see an increase in their health insurance contributions.
- The NHIC reports that roughly 10.3 million employees are subject to additional payments, collectively contributing an extra 4,195.3 billion won.This burden is shared equally between employers and employees.
health Insurance Adjustments Impact Millions of South Korean Workers
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SEOUL, South Korea – South Korea’s national health Insurance Corporation (NHIC) is finalizing health insurance premium settlements this month, reflecting adjustments based on earned income. Approximately 3.35 million individuals will receive refunds averaging 110,000 won due to decreased remuneration, the NHIC announced.
A considerably larger portion of the workforce, totaling 16.56 million people, will see an increase in their health insurance contributions. This reflects income growth for many employees during the past year.
The NHIC reports that roughly 10.3 million employees are subject to additional payments, collectively contributing an extra 4,195.3 billion won.This burden is shared equally between employers and employees.
On average, each individual facing increased premiums will pay an additional 20,555 won. Conversely, the 3.53 million people receiving refunds will collectively receive 826.5 billion won.
Refunds average 11,181 won per person, with the employer and worker each receiving half of the returned amount.
Approximately 2.73 million individuals will see no change in their health insurance contributions.Compared to last year’s settlement, the number of people required to make additional payments has increased, while the number receiving refunds has decreased.
To ease the financial strain, a split payment system is in place. Individuals facing additional payments exceeding their monthly premium can divide the amount into up to 10 installments without needing to apply. Furthermore, employees can apply for 12-month installment plans through their workplace.
The NHIC addresses concerns from some workers who feel burdened by health insurance premiums, explaining that the funds are allocated to various essential healthcare services.
Premiums support medical expenses,prescription drug costs,health checkups,pregnancy and childbirth expenses,and medical care for severe illnesses. Subsidies for individuals with disabilities are also funded through these premiums.
The health insurance system also provides resources for patients facing high treatment costs, such as those with cancer or rare diseases, through programs that partially cover co-payments.
Beyond direct medical costs, premiums contribute to health checkups, preventative care initiatives, and long-term care insurance expenditures, supporting overall public health.
Individuals with additional health insurance payments due as an inevitable result of this settlement must remit the amount by May 12. Those wishing to utilize the installment payment option can apply via the Health Insurance Corporation website or mobile submission after receiving their bill.
Failure to meet the payment deadline may result in delinquency charges or administrative penalties, the NHIC cautioned.
Health Insurance Adjustments in South Korea: Your Questions Answered
Updated: April 25,2025
South Korea’s National Health Insurance Corporation (NHIC) is currently finalizing health insurance premium settlements. Here’s what you need to know.
Frequently Asked Questions About South Korean Health Insurance Adjustments
Q: What’s happening with health insurance premiums in South Korea?
A: The NHIC is adjusting health insurance premiums based on earned income. These adjustments impact millions of workers, with some seeing increases in their contributions and others receiving refunds. Such as, approximately 16.56 million people are affected by increases, whereas 3.53 million will receive refunds.
Q: Who is affected by these adjustments?
A: The adjustments impact almost all working individuals in South Korea. about 16.56 million people will see their premiums increase, reflecting income growth.Simultaneously occurring, approximately 3.35 million individuals will receive refunds due to wage decreases.
Q: How many people are facing increased health insurance payments?
A: A substantial portion of the workforce, approximately 16.56 million people, will experience an increase in their health insurance contributions.
Q: How much extra will people pay, on average, if their premiums are increasing?
A: Individuals facing increased premiums will pay an average of 20,555 won extra.
Q: How much are refunds, on average, and who receives them?
A: Refunds average 11,181 won per person. Both employers and employees each receive half of the returned amount. About 3.35 million individuals are set to receive refunds.
Q: Why are these adjustments happening?
A: The adjustments reflect changes in earned income over the past year.The NHIC uses this information to ensure that contributions accurately reflect an individual’s financial situation. The source of these claims is the NHIC’s assessment of income for the period.
Q: Are there any payment options to ease the financial burden?
A: yes, there are options. Individuals facing additional payments exceeding their monthly premium can divide the amount into up to 10 installments without applying. Employees can apply via their workplace for 12-month installment plans.
Q: where do these extra premium payments go?
A: health insurance premiums go toward essential healthcare services. These include:
- Medical expenses
- Prescription drug costs
- Health checkups
- Pregnancy and Chidlbirth expenses
- Medical care for severe illnesses
- Subsidies for individuals with disabilities
Q: What happens if I miss the payment deadline?
A: Failure to meet the payment deadline of May 12 may result in delinquency charges or administrative penalties, as cautioned by the NHIC.
Q: When is the deadline to pay the amount due?
A: The amount due should be remitted by May 12.
Q: How can I apply for the installment payment option?
A: Those wishing to utilize the installment payment option can apply via the Health Insurance Corporation website or mobile submission after receiving their bill.
Q: What is the average refund amount?
A: The average refund amount is 11,181 won per person.
Q: Where can I find more information about these adjustments?
A: For detailed information, visit the Health Insurance Corporation website. You can also find updates on their mobile submission platform.