Korean Job Discussion Forums

hexagonsun · Joined: 28 Dec 2007 Location: ROK

Can someone please enlighten me about the health insurance that is taken out of our monthly pay? I'm not talking about NHS.

Your employer pays 50% and you pay 50%, I know that much.

But is the actual percentage they take out 4% or so (split between your and your employer would make it about 2% each)?

How much do you pay each month into your health insurance?

Do you have a once a year premium? Does your employer split that cost as well? How much did they take out for that premium?

Can someone direct me towards a website with the literature regarding our compulsory health insurance?

I have some investigating to do.

Thanks.

cincynate · Joined: 07 Jul 2009 Location: Jeju-do, South Korea

hexagonsun · Joined: 28 Dec 2007 Location: ROK

I guess I was talking about NHS!

That's a big help cincynate, thanks.

Do you or anyone know about the premium we pay once a year? Is that 50-50 as well?

Most importantly, how is that premium calculated from the paycheck?[/b]

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

hexagonsun · Joined: 28 Dec 2007 Location: ROK

That's what I was wondering ttompatz! I do have NHS and I have the card at home.

My monthly deductions match up to the proper percentage (50-50). However, we've had this "yearly premium" deduction once a year which I believe is a crock and can't find any documentation on.

Someone, please prove me wrong with my yearly premium theory. This is the second year it has happened at the same hogwon. It's not a little bit of money either. Between myself and other employees, it ranged from 150 to 300k won.

cincynate · Joined: 07 Jul 2009 Location: Jeju-do, South Korea

I am friends with someone from my school's administration office, and he told me that there is no yearly premium for the national health insurance. Some hakwans have private insurers, and there are a great number of them, so it could vary greatly. You should ask your director if you are paying into the national health insurance or some private scheme.

ontheway · Posted: Tue May 11, 2010 9:56 am Post subject:

hexagonsun · Joined: 28 Dec 2007 Location: ROK

Well...I received an explanation about my deduction today that was confusing and didn't make any sense whatsoever, but I figured it out why it happened.

Ontheway, you are right. There is a once a year adjustment for my wages. Basically, my boss reports X amount to the tax office, but I receive "bonuses" on top of my base salary; Hence the yearly adjustment.

I'm not happy about it and I'm not even sure about the legality of misreporting our wages to save a few bucks at the end of the year. The teachers get screwed in the end.

Thanks to everyone for helping me out with this. I really appreciate it. Let this be a lessons to other folks as well. Pay attention to your deductions!