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Long-term care insurance expected to be launched in 2018

Long-term care insurance expected to be launched in 2018

Long-term care insurance expected to be launched in 2018

A long-term care insurance program is tentatively set to be launched in 2018 and is expected to benefit around 820,000 people, a Cabinet official said Thursday.

The long-term care insurance bill cleared the Cabinet earlier that day and will now be submitted to the Legislative Yuan for final approval.

According to the bill, the premium rate for the insurance will be 1.19 percent during the first three years of its launch, with the rate to be re-calculated every three years.

Employers will shoulder 40 percent of the insurance premiums, while the insured individuals will be responsible for 30 percent and the government will cover the remaining 30 percent, the bill stipulates.

Minister without Portfolio Feng Yen said a person earning NT$30,000 (US$971) per month will need to pay NT$108 per month in long-term care insurance premiums, while a person earning NT$50,000 will need to pay NT$180, which is only 20 percent of the premiums for National Health Insurance.

There are four levels of disability that are eligible for between 15 and 93 hours of insurance-covered services per month, Feng said.

Individuals who are diagnosed as severely disabled and who require all-day accommodation care will be able to receive services worth NT$21,300 per month, she said.

She said the insurance program will cost an estimated NT$110 billion per year, which means the government will need to earmark a budget of NT$40 billion per year to cover its share.

Premier Mao Chi-kuo said the Cabinet is planning to raise the tobacco product surcharge to partially fund the insurance program and that he hopes the plan will win the support of the Legislative Yuan.

(By Hsieh Chia-chen and Y.F. Low)

Updated : 2021-09-25 03:48 GMT+08:00