Politics · South Korea · 3 hrs ago

South Korea considers health premiums on more types of income

South Korea considers health premiums on more types of income

South Korea’s National Health Insurance Service is considering premiums on more types of income that are currently left out of health insurance calculations.

The proposal covers some daily-wage earnings, investment income, private pensions and other income that is taxed separately from a person’s main income.

Under separate taxation, tax is generally withheld at source, and the income is not added to the person’s annual comprehensive income tax return.

Some such income already counts toward premiums, but other categories do not, including daily wages and certain smaller pension payments.

The service says including more income could make premium payments fairer, because some people with earnings can remain covered as dependants without paying premiums themselves.

It is reviewing a gradual expansion of the premium system to include separately taxed work and asset income, but no timetable or final decision is stated.

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