Health insurance agency pays more than income

By Kang Shin-who

The medical costs covered by the national health insurance scheme per household are 1.68 times larger than the insurance premium paid by a household last year.

The National Health Insurance Corp. said it collected an average 925,349 won ($782) per household last year, while its payment for the coverage of their medical costs stood at 1.55 million won, which means it spent 168 percent of its premium income.

The insurance payment for the elderly in their 70s and 80s amounted to 327 percent and 404 percent of their premiums, respectively.

Those aged 30 and younger paid an average 570,000 won per year against 871,000 won in medical costs covered by the health insurance scheme. The payout to premium ratio stood at 207 percent for those in their 60s.