To taxpayers who have already been pressed by the consequences of the year-end tax revision, the upcoming health insurance adjustment is an additional financial blow.
They will likely have to pay more insurance fees than last year due to recent rate hikes.
Starting April 15, taxpayers have to readjust their health insurance payments, based on the result of the currently ongoing earned income tax readjustment, the National Health Insurance Service and the National Tax Service said Tuesday.
Last year, 7.6 million health insurance subscribers or 61.9 percent of the nation’s total employees had to pay 1.9 trillion won ($1.8 billion) extra, according to the NHIS. Only 19.4 percent of them received refunds totaling 333.2 billion won.
Insurance fees paid ex post facto have been on an uptrend over the past years ― from 804.3 billion won in 2010 to 1.6 trillion won in 2012 and 1.58 trillion won in 2013.
According to the Ministry of Health and Welfare, the amount is expected to rise again this year, due to the increased number of employed workers and the number of those who received a salary increase.
The basic health insurance fee rate was also raised to 6.07 percent, up 0.08 percent from last year. The renewed rate is to take effect from this month and will be reflected in the April readjustment.
For instance, a corporate worker whose yearly salary rose by 1 million won last year is likely to pay some 59,000 won more in health insurance fees this year.
