TAIPEI (Taiwan News) — The National Health Insurance premium will rise from 4.69 percent to 5.17 percent starting Friday (Jan. 1), its first hike in five years.
Health and Welfare Minister Chen Shih-chung (陳時中) announced the move Thursday (Dec. 31) to counter fears that the health insurance system might run out of reserve funds by the end of 2022, CNA reported.
The change will mean that someone paid a monthly salary of NT$42,000 (US$1,500) will have to pay NT$60 more per month, while a family of four would see its total monthly premium increase by NT$242.
The previous hike was in Jan. 2016. The system’s losses were expected to reach NT$77.1 billion by the end of 2021, leading to meetings to discuss a way to solve the problem.