Sunday,  Jul 22, 2018,05:35 (GMT+7) 0 0
Higher health insurance contribution rate proposed
Hoang Nhung
Wednesday,  Jul 12, 2017,23:01 (GMT+7)

Higher health insurance contribution rate proposed

Hoang Nhung

HCMC – The Ministry of Health has proposed the Government increase the monthly health insurance contribute rate to 6% of wage in the coming years from the current 4.5%.

The ministry has floated two solutions for the health insurance contribution hike. The first solution is to increase the contribution rate by 0.3% a year to 4.8% in 2019, 5.1% in 2020 and 6% by 2024 while the second solution is to raise the contribution rate by 0.5% a year to reach 6% by 2021.

The proposal comes as the health insurance fund might be exhausted after 2018 as healthcare fees have been increased and health insurance coverage has been extended to more people in rural areas.

According to a Vietnam Social Security (VSS) representative, the new contribution rate is expected help balance the budget. In the last five years, VSS has spent VND80 trillion (US$3.52 billion) but collected a combined VND69 trillion.

Experts said a higher heath insurance contribution rate would pile pressure on enterprises and hurt incomes of workers.

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