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News
Only 15% of Korea's New Health Insurance Sign-Ups Are Voluntary Switches
2+ week, 3+ day ago (290+ words) Seoul Economic Daily South Korea's fifth-generation indemnity health insurance, designed with lower premiums, drew more than 183,000 policies in the three months since its launch, but only about 15% of that total came from existing policyholders who chose to switch on their…...
Retirement Planning in Korea Shifts From Leaving Wealth to Spending It
3+ week, 1+ day ago (397+ words) When counseling clients approaching retirement, one question has long recurred: "After I die, or before I die, to whom and how should I leave this money?" That is why retirement asset management has until now focused heavily on gifting and…...
Hospital Chiefs Urge Rethink of Tax Change They Say Threatens Essential Care
3+ week, 4+ day ago (546+ words) Seoul Economic Daily...
Daesang Wellife, Hanwha Life Team Up on Health-Insurance Care Service
3+ week, 4+ day ago (321+ words) Health Status Linked to Coverage Analysis Tailored Services Planned by Life Stage Daesang Wellife has partnered with Hanwha Life Financial Service to develop an integrated life-care service that combines healthcare and insurance. The plan is to link health data with…...
Minor Bumper Scrapes Lead to Oriental Medicine Hospital Bills, One Case Hits 31.75 Million Won
1+ mon, 1+ week ago (383+ words) Treatment costs at oriental medicine hospitals for minor auto insurance patients (grades 12-14) have risen more than 26% over the past five years, according to industry data. The insurance industry pointed to "set billing" by some oriental medicine hospitals and long-term stays…...
Hanwha General Insurance Partners with KFTA to Protect Teachers
3+ mon, 4+ week ago (271+ words) Response to Violence, Liability Claims Legal Consultation via Bar Association Hanwha General Insurance signed a memorandum of understanding (MOU) with the Korean Federation of Teachers' Associations (KFTA) on Wednesday to strengthen teachers' rights protection and the social safety net, marking…...
Oriental Medicine Accounts for 60% of Auto Insurance Claims as '8-Week Rule' Delayed
3+ mon, 4+ week ago (811+ words) Seoul Economic Daily Korean insurers are feeling the pinch as the introduction of the so-called "8-week rule," designed to curb excessive treatment of minor auto accident victims, is expected to face difficulties being implemented within the first half of the…...
Fifth-Generation Health Insurance Cuts Premiums, Coverage on Jan. 6
4+ mon, 1+ week ago (407+ words) Switching to 5th Gen Cuts Premiums by 88% Optional Discount Rider Available While Keeping 1st, 2nd Gen Elderly Policyholders May Benefit From Retaining Existing Plans Consumers who signed up for indemnity health insurance before March 2013 could significantly reduce their premium burden over the next…...
Fifth-Generation Indemnity Health Insurance Launches Next Week
4+ mon, 1+ week ago (535+ words) Seoul Economic Daily With the launch of fifth-generation indemnity health insurance imminent, consumers are weighing their options. The new fifth-generation product offers significantly lower premiums than existing indemnity insurance but imposes higher out-of-pocket rates. Whether the switch pays off depends…...
Annual April Health Insurance Bill Shock Hits 10 Million Korean Workers
4+ mon, 2+ week ago (262+ words) Seoul Economic Daily The annual "health insurance premium settlement" controversy that recurs every April has hit 10 million Korean salaried workers again this year. Experts are increasingly calling for reform of what has been dubbed the "health insurance premium bomb" phenomenon....