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Wad
Joined: 19 Nov 2007
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 Posted: Thu Apr 23, 2015 12:44 am Post subject: Why do Korean health insurance premiums change? |
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I normally pay about 119,000 won a month in health insurance for both my foreign wife and myself. Two weeks ago she had some (minor) surgery. This month my premium jumped to 219,000 won. Is this because she had the surgery?
There have been years where I've actually got money back, albeit a small amount. I have never, nor my work colleagues for that matter, been able to figure out how premiums are actually applied.
Can anyone tell me if the premiums you pay each month are determined by the amount of health services you claim?
Regards! |
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wooden nickels
Joined: 23 May 2010
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| Posted: Thu Apr 23, 2015 2:38 am Post subject: Re: Why do Korean health insurance premiums change? |
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| Wad wrote: |
I normally pay about 119,000 won a month in health insurance for both my foreign wife and myself. Two weeks ago she had some (minor) surgery. This month my premium jumped to 219,000 won. Is this because she had the surgery?
There have been years where I've actually got money back, albeit a small amount. I have never, nor my work colleagues for that matter, been able to figure out how premiums are actually applied.
Can anyone tell me if the premiums you pay each month are determined by the amount of health services you claim?
Regards! |
My wife and I saw our combined health insurance increase about 100,000 won per month last month. She said it was due to the value of where we live now being higher than the value of where we previously lived. My understanding is that it goes up whether owning or renting.
Sorry, I didn't really answer your question. |
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Bongotruck
Joined: 19 Mar 2015
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| Posted: Thu Apr 23, 2015 3:24 am Post subject: |
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| It is based upon your net worth. Did you recently acquire something pricy? |
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Wad
Joined: 19 Nov 2007
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| Posted: Thu Apr 23, 2015 5:39 am Post subject: |
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| Bongotruck wrote: |
| It is based upon your net worth. Did you recently acquire something pricy? |
If anything my income has dropped considerably (30%) this semester.
I guess what I am wondering is whether or not a trip to the doctor for surgery might up the premium for the month? |
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wooden nickels
Joined: 23 May 2010
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| Posted: Thu Apr 23, 2015 5:45 am Post subject: |
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| Wad wrote: |
| Bongotruck wrote: |
| It is based upon your net worth. Did you recently acquire something pricy? |
If anything my income has dropped considerably (30%) this semester.
I guess what I am wondering is whether or not a trip to the doctor for surgery might up the premium for the month? |
Your income could have dropped but your net worth could have gone up.
I just asked my wife about trips to the doctor upping the premium. She said that doesn't cause the premium to go up as far as she knows. |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Thu Apr 23, 2015 9:11 am Post subject: |
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It is based on your net worth. The Health authority knows property you/spouse own, cars you/spouse own, if a company is registered in your/spouse name.
Also if you have a child it will go up.
I read in the newspaper they were thinking of somehow knowing the deposit of a place you are renting. I am not sure if they do that or not. As some people didn't buy, but had huge Jeonsae deposits. |
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wooden nickels
Joined: 23 May 2010
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| Posted: Thu Apr 23, 2015 7:54 pm Post subject: |
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| Who's Your Daddy? wrote: |
It is based on your net worth. The Health authority knows property you/spouse own, cars you/spouse own, if a company is registered in your/spouse name.
Also if you have a child it will go up.
I read in the newspaper they were thinking of somehow knowing the deposit of a place you are renting. I am not sure if they do that or not. As some people didn't buy, but had huge Jeonsae deposits. |
My spouse and I own a place, and rent a place with a large deposit. Both of these affect our health insurance premium. It's simply another tax, or at least an increased rate on income and net worth. It's sort of like a pre-estate tax. |
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Bongotruck
Joined: 19 Mar 2015
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| Posted: Fri Apr 24, 2015 10:51 pm Post subject: |
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Yes. Communism at its finest.
| wooden nickels wrote: |
| Who's Your Daddy? wrote: |
It is based on your net worth. The Health authority knows property you/spouse own, cars you/spouse own, if a company is registered in your/spouse name.
Also if you have a child it will go up.
I read in the newspaper they were thinking of somehow knowing the deposit of a place you are renting. I am not sure if they do that or not. As some people didn't buy, but had huge Jeonsae deposits. |
My spouse and I own a place, and rent a place with a large deposit. Both of these affect our health insurance premium. It's simply another tax, or at least an increased rate on income and net worth. It's sort of like a pre-estate tax. |
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giraffe
Joined: 07 Apr 2009
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| Posted: Sun Apr 26, 2015 11:34 pm Post subject: |
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yes.. alot of it has to do with net worth. ie: the more you own ( land , cars , apts Etc..) the more you will pay in health insurance....
It also goes with your salary... So if you're making less this year they will Recalculate your health premium for next year... It will change again next year.. |
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