Useful Info

1) Application for exclusion from long-term care insurance for foreign workers:
- Foreign workers under the Employment Permit System (E-9, H-2 visa holders) receive short-term work visas, so it is realistically difficult to become beneficiaries of long-term care insurance. Therefore, if you do not want to subscribe to long-term care insurance for the elderly, if you apply for exclusion, it will not apply. Excluded.
- However, if a foreign worker converts from an employer-based subscriber to a local subscriber, the health insurance premium includes the long-term care insurance premium and is not exempted.
2) Application for voluntary continuation of health insurance:
- If a foreign worker becomes a local subscriber, he or she must pay the insurance premium. Since you will be responsible for 100% of the insurance premiums, you will pay more in insurance premiums than at work. In this case, if you use the voluntary continuous subscription system, you can save on insurance premiums because the premium is temporarily calculated based on the premium before retirement.
- Usually, foreign workers are allowed a three-month job search period from the end of their employment relationship with the workplace to re-employment, and this period is the period eligible for local health insurance subscription.
- Because it is difficult for foreigners to determine their income and assets, the average premium of all subscribers to health insurance in the previous year (in the case of 2023) 143,840 won) is applied as local insurance premium. This is more than twice the workplace insurance premium of 71,270 won compared to the monthly wage applied to the minimum wage in 2023.
- However, if you have maintained your qualifications as an employer-based health insurance subscriber for more than one year, you can benefit from voluntary continuation of subscription for up to 36 months even upon retirement (if you apply within two months), which means you can receive a lower workplace subscription insurance premium than the local subscription premium. It is a system.
3) Year-end tax settlement system for health insurance premiums:
- Health insurance premiums for employed subscribers must be charged based on the income of the current year, but since income is not confirmed during the year, it is first charged based on the previous year's income (for those employed in the current year whose income cannot be confirmed in the previous year, the regular monthly wage is charged), and then Based on the income confirmed at the workplace in March of the year, the previous year's insurance premium is recalculated, calculated with the already paid insurance premium, and charged to the April insurance premium (additional collection or refund).
- Like year-end tax settlement, health insurance premiums are also recalculated through year-end tax settlement and the insurance premium is recalculated and charged to the April insurance premium, so the deduction amount among the monthly salary items may be increased or decreased.