Lee Jae-myung: "Adjust Health Insurance Premium Property Deduction Based on Bottom 60%"

71st 'Sohwakhaeng'... "We will properly reform income-based health insurance"

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced that he will raise the health insurance premium property deduction amount to 70 million KRW, which is the standard for the bottom 60% of property holders among regional subscribers.

On the 13th, through Facebook, Candidate Lee presented this as his 71st 'Small but Certain Happiness (So-hwak-haeng)' pledge to reduce the burden on regional health insurance subscribers.

Candidate Lee explained, "With the rise in real estate prices, the burden on regional health insurance subscribers is also increasing," adding, "The government planned to increase the property deduction amount to 50 million KRW starting July this year to reduce the burden on low-income regional subscribers since 2017, but the effect has been very limited."

To improve this, he pledged to first reflect the rise in real estate prices by adjusting the property deduction amount realistically, thereby lowering the health insurance premium burden on low-income regional subscribers in line with the original intent.

In particular, he plans to raise the 'health insurance premium property deduction amount' to 70 million KRW, which is the standard for the bottom 60% of property holders among regional subscribers. In this case, the property insurance premiums for 5.13 million regional subscriber households will decrease by an average of 42,000 KRW per month, and 2.36 million households will be fully exempted.

Additionally, to reduce the burden on low-income subscribers, he said he will raise the property deduction amount standard to 100 million KRW during his term. Candidate Lee reiterated, "I will properly reform income-centered health insurance so that the side effects of rising real estate prices are not passed on to the people."

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