Health Insurance Medical Expenses Exceed 50 Trillion in First Half of Year... First Time in Health Insurance History

Annual Medical Expenses Expected to Exceed 100 Trillion Won, 50% Increase Compared to Just Before Moon Care

[Image source=Yonhap News]

[Asia Economy Reporter Kwangho Lee] Health insurance medical expenses have surpassed 50 trillion won for the first time in history. Unlike previous years, the rapid increase in medical expenses has raised concerns.

According to the "2022 First Half Health and Long-term Care Insurance Major Statistics" published by the National Health Insurance Service on the 19th, health insurance medical expenses for the first half of this year amounted to 50.0845 trillion won. This represents an 11.6% increase compared to the same period last year.

Health insurance medical expenses for the first half of the year have steadily increased: 31.1255 trillion won in 2016, 33.9858 trillion won in 2017, 36.7803 trillion won in 2018, 41.983 trillion won in 2019, 42.0398 trillion won in 2020, and 44.8823 trillion won in 2021.

In particular, compared to 2017, before the implementation of the health insurance coverage enhancement policy known as "Moon Jae-in Care," medical expenses for the first half of this year surged by 47.4%. The new policy combined with the aging population has caused medical expenses to increase significantly.

If this trend continues, the total medical expenses for this year are expected to exceed 100 trillion won. Last year, the total was 93.5011 trillion won. If a deficit occurs next year, the financial situation is expected to worsen.

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