Korean Job Discussion Forums

[wheredowego]

Has anyone heard of AIG insurance? My boss tells me that it's a good alternative to the national health program. Don't get me wrong--it's not being forced on me, I can go with the regular health plan if I want.

I've been told the following:

1: You have to pay upfront for any healthcare and then submit receipts for a refund.

2: It's much cheaper (less than 300 000 per year?!?!)

3: It doesn't cover skin care or dental, although it covers everything else.

4: It's much easier to set up than the national program.

Does anyone know anything about this? Has anyone been covered under it? Most importantly, has anyone who has been covered under it had to make a claim?

Thanks.

[Ukon]

Since your employer pays 50% of the national plan by LAW, I'd go with that....sounds screwy...bet a million bucks he wouldn't pay 50% of the AIG bill.

[Nester Noodlemon]

Take the National Health Insurance

[losing_touch]

I had a similar offer at one point in time with Samsung Insurance. It was significantly cheaper. My boss was going to pay half. I ended up getting the national insurance because of some paperwork issues at the end of the day. It was my understanding that one can opt out of the national plan if you have other insurance.

[wheredowego]

My employer WILL pay half. I thought I made that clear.

[3MB]

[broken76]

NHIC and private insurance (AIG, Samsung, Met Life, etc.) have pretty much two different ways of doing things. NHIC will subsidize medical costs regardless of amount while the private ones will pretty much cover the big things.
For example if you go in for a flu shot NHIC will subsidize it so instead of paying 10,000 won you pay 4000 (I believe the ratio is 60/40). But if you get in a car accident and are hospitalized for a lengthy period of time again NHIC will only subsidize it.
Private insurance pretty much won't cover the small stuff but will protect you on big payments.
Since medical care is so cheap to begin with on regular things such as checkups and prescriptions private is a safer bet since it will cover pretty much most costs of the heavy duty stuff.
If you're really picky then get both. Have the school set up NHIC and get a private insurer on the side on your own.

[Big Mac]

It's mandatory to get the National Health insurance. Your employer is just trying to save money by getting you to go with a private plan.

Private plans are good for topping up your National Health Insurance. The national plan only covers a percentage of your medical costs and drugs. For minor things, it's great, but if you needed to stay in the hospital for a while or needed surgery, you'd still be paying a lot out of pocket. In that case, you would want private insurance to make up the difference. It's a wise thing to get in addition to your national insurance. I don't have private insurance, but I have thought about getting it.

And by the way, who HASN'T heard of AIG? It's one of the biggest insurance companies in the world. Also made the news a lot this year because it got a major bailout from the US government.

[losing_touch]

I have been told by the national plan that I could have my own private insurance instead of the national plan. It simply required me to sign a waiver.

[Kikomom]

Google AIG (news) and see what shysters you'll be dealing with.

I worked for the Penna. Dept of Transportation in construction contracting and they insured about 1/3 of the construction projects we had. I started following their news when then NY Attorney General Eliot Spitzer had them under indictment back then. (they settled out of court for the largest settlement in NY state history, 1.3billion)

AIG's shady practices are a good part of the global economic crises we are in today.

[broken76]

The foreign insurers in Korea are run differently then the one's back home since they need to comply to the insurance laws of Korea. AIG Korea from what I hear is just as sound as any other major insurer here. I wouldn't trust it back home though

[tob55]

AIG is suitable insurance for many things, but it only covers certain situations. I have the insurance and have not been altogether disappointed with it. You have to understand the insurance situation in Korea. First of all, tell your employer you want NHIC because it is mandatory. Don't let them BS you about taking your own and they will pitch in, whatever. If they are doing this they are probably trying to cheat the government on their taxes or some other thing. OR they just don't know the regulations.

Second, there are some really good policies you can get here in Korea if your are not above 52 years of age. I have three policies in addition to the national health my school provides that are all quite good for what they cover: Dongbu, Meritz and AIG. My total cost per month for the three additional policies is around 15 만원 (150,000 KRW). I have had to use the policies over the past couple of years, and each of the policies pays out on the total hospital bill rather than sharing the cost between themselves. In Korea individuals may have up to 10 different policies for insurance. Taxi drivers do this and occasionally use the system to their advantage when they are looking for time off. Long story, but true.

Anyway, AIG isn't bad, but if you are looking for good policies shop around and you will find some good ones here in Korea.

[vonnegutjr]

My first gig set me up with AIG. I tried to get reimbursed once and they sent a guy to talk with me to to try and find a loop hole out of my claim. He did, and it is an insurance company anyway. Since then having the National plan is a big sigh of relief. I had to go to the doctor to get prescription meds a couple of times last year and it was cheap and easy. Go National.

[Looney]

Go for the National Health Insurance plan, especially if you're staying more than 1 year in Korea, quit and go with another school later.

Reason being is that if you sign with another school year the next time, and they put you on the NHIC plan, YOU will owe 1 years worth of BACKPAY to NHIC or any months that you did not pay during the duration date of your ARC card. It's a backwards idea but I and some others found out the hard way.

[manofwar]

Is there a link or anybody know someone in AIG they talked to who speaks English? I think I would be very interested in getting something.
thanks