2024-06-06 09:35:06
Beginning subsequent month, insurance coverage premiums for 4th technology precise medical insurance coverage subscribers shall be elevated by as much as 300% relying on the quantity of non-covered medical care used.
Subscribers who haven’t obtained non-benefit insurance coverage advantages within the earlier 12 months will obtain a reduction on premiums, however subscribers who’ve obtained non-benefit insurance coverage advantages of 1 million received or extra could have premiums elevated for every part.
On the sixth, the Monetary Providers Fee introduced that ranging from the first of subsequent month, non-benefit protection particular contract subscribers amongst 4th technology precise price insurance coverage subscribers will obtain a reduction or premium on non-benefit insurance coverage premiums in reference to the ‘quantity of non-benefit medical care utilization’ when renewing premiums.
In July 2021, the 4th technology precise loss insurance coverage was newly launched to enhance the equity of insurance coverage premium burden amongst subscribers whereas sustaining the position of a social security internet that enhances medical health insurance.
The variety of subscribers to the 4th technology precise loss insurance coverage has continued to extend because the product was launched, and as of the top of final 12 months, the variety of subscriptions was 3.76 million, which is about 10.5% of all precise loss insurance coverage.
The 4th technology precise loss insurance coverage is assessed into profit and non-benefit and has a construction during which the premium is adjusted yearly in accordance with every loss charge. In contrast to advantages, the place the insurance coverage premiums for all policyholders are adjusted uniformly, within the case of non-benefit plans, premiums are utilized differentially in reference to the non-benefit insurance coverage quantity.
The differential software of non-benefit insurance coverage premiums has been postponed for 3 years because the product was launched to safe adequate statistics, and shall be utilized from the time of insurance coverage premium renewal after the first of the following month.
Subscribers to the 4th technology precise loss insurance coverage are divided into 5 classes (grades 1 to five) in accordance with the non-benefit insurance coverage funds obtained through the 12 months earlier than insurance coverage premium renewal.
If you don’t obtain non-benefit insurance coverage cash, you’re eligible for a reduction. If the quantity of non-benefit insurance coverage cash you obtain is lower than 1 million received, no low cost or surcharge is utilized.
Alternatively, if the non-benefit insurance coverage quantity is greater than 1 million received, the non-benefit insurance coverage premium is elevated by 100, 200, or 300%. Insurance coverage premiums are discounted primarily based on the premium quantity of the particular person eligible for the premium, and the low cost charge is predicted to be round 5%.
As well as, as a way to be certain that the medical accessibility of medically susceptible teams isn’t restricted, medical bills for ailments topic to particular calculation beneath the Nationwide Well being Insurance coverage Act and people decided to be in long-term care stage 1 or 2 beneath the Aged Lengthy-Time period Care Insurance coverage Act are excluded when calculating non-coverage insurance coverage premium low cost/surcharge ranges.
The Monetary Providers Fee mentioned, “Every insurance coverage firm establishes and operates a ‘non-coverage insurance coverage cost inquiry system’ to make sure that customers fairly handle the quantity of non-coverage medical use and don’t expertise inconveniences resulting from premium surcharges.” “4th technology precise price medical insurance coverage subscribers are eligible to make use of particular person insurance coverage firms.” By means of the web site or app, you possibly can test the quantity of non-benefit insurance coverage advantages, insurance coverage premium low cost/surcharge stage (estimated), non-benefit insurance coverage quantity remaining till the following insurance coverage premium surcharge stage, and data on required paperwork to use for low cost/surcharge exclusion (together with doc attachment operate).” revealed.
Reporter Kim Jeong-hyun picture supplied by the Monetary Providers Fee
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2024-06-06 09:35:06