Next Year's Industrial Accident Insurance Premium Rate Reduced by 0.03%p from This Year... Set at 1.53%

Asia Economy DB=Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] The average industrial accident insurance premium rate across all industries for next year has been set at 1.53%.

The Ministry of Employment and Labor announced the 2021 industrial accident insurance premium rates and the standards for calculating industrial accident insurance medical benefits on the 28th. The premium rates and medical benefit calculation standards, scheduled to take effect on January 1 next year, were finalized after deliberation by the Industrial Accident Compensation Insurance and Prevention Deliberation Committee, composed of labor, management, and public interest members.

The industrial accident insurance premium rates are determined and announced to secure the necessary funds for projects such as insurance benefit payments, industrial accident prevention, and welfare for injured workers.

The rates consist of industrial accident insurance premium rates by business type, reflecting the frequency of industrial accidents, and commuting accident rates for compensation of accidents occurring during commuting.

The average industrial accident insurance premium rate for all industries next year was decided to be 1.53%, a decrease of 0.03 percentage points from this year. Specifically, the premium rate by business type remains at 1.43%, the same as the previous year, while the commuting accident rate was lowered by 0.03 percentage points to 0.10% compared to last year.

An official from the Ministry of Employment and Labor stated, "The rate was reduced by 0.03 percentage points compared to last year to alleviate the insurance premium burden on companies and special types of workers due to COVID-19."

The standards for recognizing industrial accident insurance medical benefits will be expanded next year. Procedures using 'Versajet' have been approved as a medical benefit item. This procedure uses a high-pressure water jet to clean burn areas, reducing the risk of infection and shortening surgery time.

Additionally, nine new items will be newly applied, including waist belts that connect and fix prosthetic legs to the upper body and temporary teeth used during implant procedures.

Regarding the criteria for recognizing medical benefit fees, the treatment area for 'extracorporeal shock wave therapy' will be expanded from musculoskeletal disorders to spinal disorders, and the medical departments will be extended beyond rehabilitation medicine and orthopedics to include neurosurgery as well.

The cost for replacing hooks used in functional prosthetic hands will also be increased (from 351,000 KRW to 655,000 KRW), with a total of four criteria being expanded and applied.

Park Young-man, Director of the Industrial Accident Prevention and Compensation Policy Bureau, said, "This revision focuses on reducing the burden of industrial accident insurance premiums and enhancing the level of coverage for treatment and rehabilitation of injured workers." He added, "We will continue to discover improvements that workers and companies can feel and strengthen the role of industrial accident insurance as a safety net against accidents."

This content was produced with the assistance of AI translation services.