National health program has been operating in the red, reserve fund will be depleted next year

Taiwan News
Date: 2020/11/192
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News) — Taiwan is poised to raise its National Health Insurance (NHI) rates as the national health program has been operating in the red and its reserve fund will be depleted next year.

It’s estimated that the losses of the NHI program will reach NT$7.71 billion (US$2.57 billion) by the end of next year, which has prompted the National Health Insurance Committee to hold a meeting on Friday (Nov. 20) to discuss the possibility of raising the insurance rate from the current 4.69 percent to over 5 percent, per CNA.

It’s reported that two proposals have been on the table, with the consumer's version recommending a raise of the rate to 5.47 percent, while the medical community’s version recommends hiking it to 5.52 percent.

The consumer's version will raise the monthly premium for people with a monthly salary of NT$42,000 from NT$591 to NT$689, or NT$98 more, while the medical community’s version will cost the same group of people NT$104 more, or a monthly premium of NT$695.
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