Sim Sang-jung: "I will create health insurance that limits annual hospital expenses to 1 million won"

Sim Sang-jung, the Justice Party's presidential candidate, is holding a press conference on the 24th at the National Assembly Communication Office regarding the confirmed pardon of former President Park Geun-hye. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Naju-seok] Sim Sang-jung, the presidential candidate of the Justice Party, pledged on the 29th to implement the ‘Health Insurance One-Stop 1 Million Won Cap System,’ which limits hospital expenses to within 1 million won annually even without private medical insurance.

On the same day, Candidate Sim unveiled a healthcare policy named ‘Sim Sang-jung Care’ at the National Assembly. He said, "Moon Jae-in Care was promoted to ensure that no one is unable to receive proper treatment due to lack of money despite being ill, but it ended up being only partial coverage," and promised, "From now on, for any disease and any treatment, the total burden will be limited to 1 million won per year."

He explained, "The 1 million won cap system covers all medically necessary treatments except for plastic surgery and cosmetic procedures, and applies to current preliminary benefits and non-benefits," adding, "Payments will be made at the same rate according to income, and treatment will be received regardless of the amount of insurance premiums paid, thereby increasing ‘social solidarity.’"

Candidate Sim stated, "The required funding for the 1 million won cap system is about 10 trillion won," and argued, "If only one-fifth of private medical insurance premiums are converted to National Health Insurance, the 1 million won cap system is feasible." According to the Justice Party, "Out of every 100 households, 81 are subscribed to private medical insurance," and "Private medical insurance premiums amount to 53.1 trillion won, comparable to the 55 trillion won in National Health Insurance premiums."

He also explained that this system is already in operation in foreign countries. Candidate Sim introduced, "Free medical care in major welfare states is effectively operated as a 1 million won cap system," and said, "In Germany, a 2% cap on annual income is implemented, which results in the same effect as 1 million won for an annual salary of 50 million won."

Additionally, Candidate Sim promised a ‘National Primary Care Physician System,’ stating, "All citizens will receive routine health management from a primary care physician, who will take responsibility for linking to higher-level hospitals if specialized treatment is needed, and also handle post-discharge care." He also pledged a ‘One-Stop Industrial Accident Insurance’ system with an improved payment method of advance payment followed by evaluation.

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