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KMID : 1138920080070040046
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Health Insurance Forum
2008 Volume.7 No. 4 p.46 ~ p.53
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Policy Issues for Long-term Care Insurance
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Kwon Soon-Man
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Abstract
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Facing rapid aging of population, Korea introduces long-term care (LTC) insurance on July 1 2008, which will be one of major components of the Korean welfare state as the fifth social insurance system. LTC insurance aims to ease the financial burden of the elderly related to long-term care and hopes to reduce the financial pressure that social admissions of the elderly put on health insurance system. This paper discusses policy process and key issues associated with the introduction of LTC insurance in Korea such as financing mix (tax, insurance premium, and out-of-pocket payment), relationship between health insurance and LTC insurance, population coverage, level of benefit coverage, and the role of local governments. Korean LTC insurance will provide benefits (benefits-in-kind rather than cash benefits) to cover long-term care of the elderly and age-related long-term care of the non-elderly.
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KEYWORD
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Aging, Long-term care insurance, health insurance, benefits
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