Korean Job Discussion Forums

[elliemk]

I'm planning on getting this as an adjunct to my Korean National Health Insurance. I don't read Korean, so can anyone give me some particulars on the program - what it covers, what the copays are, etc? I understand it doesn't cover medication. But does it cover operations, x-rays, etc.? What are the maximums, etc.? Finally, maybe the most important question. I am overweight. Will they even insure me? Thanks for your help.

[shifty]

Couldn't tell you in particular, but in general terms.

They are apt to be fairly lenient in their rating of risk for it's spread over a large group and they are reinsured which has the effect of spreading it further.

A requisite of insurance is that you should not be enriched but only placed in the situation that you were before the contingency occured. That is to say that you can't double dip for a given contingency. Therefore you can't make claims from multiple insurers that are covering the same risk and require that they pay out willy nilly.

It is completely different with life assurance where a value can't be placed on a human life with the qualification of his/her status, lifestyle and earnings potential. In that case (life assurance) a claim would precipitate any number of companies having to pay out in full.

[elliemk]

Thanks, big s!

[shifty]

[elliemk]

type a semi-colon like this:
then
type a close parenthesis mark like this )

There's your smiley

[shifty]

Thanks, I'll have to look at it to tomorrow, that last attempt took everything out of me.

[Zaria32]

I don't know why you'd want to spend the money for additional insurance.

I've just spent 8 days in the hospital here in Korea...about 5 hours in the emergency room, followed by hospitalization. Numerous tests, several specialists, so many IVs I turned into a pin cushion...very good care I believe.

My share of the bill? About $320.

[tob55]

I have AIG and it is an okay policy to add, and they will insure you if you are overweight but not if your are obese. There is a difference and it is a fine line between having them say welcome or sorry we cannot help you. My wife worked out all the details for me, because when I first received the insurance I was borderline on the overweight issue. Nowadays it isn't much of a concern, but then it was.

The policy is fairly inexpensive, and it will cover much of your medical when you are in the hospital and covers emergency care if you need it. The thing with Korean insurance companies is that once you pass the magic three day stay in the hospital, each policy you have will pay out benefits to you regardless of what the other companies pay. I actually have three extra policies besides my National health, and my last stay in the hospital from an accident which landed me in for 8 days paid me just over a thousand dollars US after all of my hospital bills were paid. This is why the Koreans stay in hospital for so long even with minor injuries. They understand that they may earn more money in some cases from the hospital stay than they do in their regular jobs.

It is nothing to see some people spend up to 3 - 4 months in hospital care for this very reason. I don't quite agree with the way the system is set up, but I understand it since I have had to use it myself, and not when I was nursing a minor injury.

Anyway, if you have a question and want to visit by phone with my wife who can help you just send me a PM and we'll be glad to talk with you.

[shifty]

Well, I defer to tob55 as to practices within Korea. It's up to them to ask you on the application form a question like: Do you have or are you applying for similar benefits to run concurrently with this or at another institution? Yes/no. If they don't ask that, it's their own lookout.
If the aggregate total is within reason they'll beckon you with open arms.

Seems like in Korea the more the merrier.

[cruisemonkey]

Why are you planning on doing this?

[garykasparov]

The OP is choosing coverage other than the National Health Insruance Program.

[elliemk]

Note to Gary,

No, I have the National Health Insurance. Because of my age, I want to get additional insurance.

[blade]