The Ministry of Health and Welfare said on July 24 that it would begin a program to support families facing "catastrophic medical expenditure." Designed to protect households from going bankrupt due to excessive spending on medical bills, the program will be available on a limited-time basis until the end of 2015. This year's budget is set at 30 billion won, with the number of beneficiaries estimated at 18,000.

 

The eligible medical conditions are 138 diseases including cancer, heart conditions, cerebrovascular conditions, and rare disorders. At the time of the patient's hospitalization, the family's income must be below 200 percent of the legally-set minimum living expenses. This is equivalent to a household income of 3,092,798 won a month. Those who pay 91,380 won in company-sponsored health insurance plan premium a month (or a 102,210-won plan for individual plans) are eligible for the catastrophic medical expenditure protection program.

 

For the one-time medical spending of 3 million to 5 million won, the government will support 50 percent of the expenditure. For spending between 5 million to 10 million won, the families of the patient will receive 60 percent of the outlay. For those who spent more than 10 million won in medical cost, the government will reimburse 70 percent, with the maximum compensation amount set at 20 million won.