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Korean Job Discussion Forums
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jlaskie
Joined: 19 May 2007
Location: Boston, MA
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 Posted: Sat May 19, 2007 3:21 pm Post subject: health insurance - nhic vs. private |
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so i'm completely new to this whole contract negotation thing, and i currently have an offer i'm very seriously considering. one of the major questions i have concerns the provision for health insurance. the contract states that the employer will pay the entire monthly premium for full private health insurance coverage (from samsung or lg). does anyone know anything about these companies? i know with nhic, employers & teachers split the cost, so i'm wondering if i'm somehow screwing myself over by accepting private insurance fully covered by the school. thoughts?
also...what's the deal with pension? i'm fresh out of college and haven't given much thought to anything of this nature, but i want to get off on the right foot. is paying into the national pension legally REQUIRED? what are the benefits? a general rundown in general would be nice. thanks a bunch in advance! |
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icicle
Joined: 09 Feb 2007
Location: Gyeonggi do Korea
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| Posted: Sat May 19, 2007 3:26 pm Post subject: |
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Both paying into the NHIC and paying into the Pension are compulsory not optional...
Icicle |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat May 19, 2007 3:45 pm Post subject: Re: health insurance - nhic vs. private |
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| jlaskie wrote: |
so i'm completely new to this whole contract negotation thing, and i currently have an offer i'm very seriously considering. one of the major questions i have concerns the provision for health insurance. the contract states that the employer will pay the entire monthly premium for full private health insurance coverage (from samsung or lg). does anyone know anything about these companies? i know with nhic, employers & teachers split the cost, so i'm wondering if i'm somehow screwing myself over by accepting private insurance fully covered by the school. thoughts?
also...what's the deal with pension? i'm fresh out of college and haven't given much thought to anything of this nature, but i want to get off on the right foot. is paying into the national pension legally REQUIRED? what are the benefits? a general rundown in general would be nice. thanks a bunch in advance! |
NHIC medical became required by law for ALL foreign employees on Jan 1 2006.
National pension became MANDITORY and required by law for all foreign staff (regardless of business size) as of Jan 1, 1999.
Most hakwons cheat and avoid both. They use things like the imagined insurance you mention in your post. This is illegal and if you are injured off the job your employer will find an excuse to NOT pay the bills.
BIG RED FLAG and potential deal breaker. |
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cerulean808
Joined: 14 Mar 2006
Location: Seoul
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| Posted: Sat May 19, 2007 6:30 pm Post subject: |
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As of March 2007
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Medical Insurance
The Employer should provide medical insurance for the Employee and agree to cover 50% of the cost. The Employee is responsible for the remaining 50% (as required by Korean Law). The current rate is 2.385% for the Employee and 2.385% for the Employer. This is the Korean Medical Insurance website: Korean: http://www.nhic.or.kr/index.html /English: http://www.nhic.or.kr/wbe/index.html. These are the current rates and monthly payment amounts:
Salary per Month Medical Insurance rate Teacher�s (Employee�s)Medical Insurance Payments per Month School�s (Employer�s)Medical Insurance payments per Month
2,000,000 2.385% 47,700 47,700
2,100,000 2.385% 50,085 50,085
2,200,000 2.385% 52,470 52,470
2,300,000 2.385% 54,855 54,855
2,400,000 2.385% 57,240 57,240
2,500,000 2.385% 59,625 59,265
Pension
Each month, four point five percent (4.5%) should be deducted from the Employee�s monthly salary for the Korean National Pension Program (as required by Korean Law) and an equal payment of four point five percent (4.5%) should be paid into it by the teacher�s Employer as well which can be refunded (9.0%) by the Korean Government once the teacher has left Korea. All teachers, regardless of nationality, are required to make pension payments but only American, Canadian, and British citizens are eligible to receive the pension payment refund at this time. Australians will be eligable for this pension refund, retrospectively, as of July 2008. This is the Korean pension service website: Korean: http://www.nps4u.or.kr /English: http://www.npc.or.kr/eng/g-index.html. These are the current rates and monthly payment amounts:
Salary per Month Pension rate Teacher�s (Employee�s)Pension Payments per Month School�s (Employer�s)Pension Payments per Month
2,000,000 4.5% 90,000 90,000
2,100,000 4.5% 94,500 94,500
2,200,000 4.5% 99,000 99,000
2,300,000 4.5% 103,500 103,500
2,400,000 4.5% 108,000 108,000
2,500,000 4.5% 112,500 112,500
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Just make sure you do your homework.  |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Sat May 19, 2007 7:07 pm Post subject: |
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British people can get a refund now.
When did that happen? |
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Young FRANKenstein
Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
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| Posted: Sat May 19, 2007 9:10 pm Post subject: Re: health insurance - nhic vs. private |
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| jlaskie wrote: |
| the contract states that the employer will pay the entire monthly premium for full private health insurance coverage (from samsung or lg). |
Even if you sign the contract the way it reads now, you and the school are still REQUIRED to pay into the national health insurance as well. You cannot opt out and you cannot substitute it with private insurance (supplemented, yes; replaced altogether, no) |
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Tokki1
Joined: 14 May 2007
Location: The gap between the Korean superiority and inferiority complex
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| Posted: Sun May 20, 2007 1:10 am Post subject: |
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You can go with the flow.
Just get paid and roll the dice. Worst case scenario: you get run over by a drunken cabbie on the sidewalk. Probably won't happen.
Finish your contract and make sure you get it next time, no biggie. |
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babtangee
Joined: 18 Dec 2004
Location: OMG! Charlie has me surrounded!
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| Posted: Sun May 20, 2007 2:11 am Post subject: |
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If you're registered for the National Health Insurance they will report this to the pension office. Your prospective employer wants you to take private insurance because they don't want to pay pension.
I wouldn't take a job that doesn't provide pension or medical. If they're cutting corners there they're apt to cut corners anywhere else they can. If you're already in a contract and you're not getting medical or pension I would suggest you report the matter to the relevant offices. They will force you and your employer to pay. |
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