South Korea is providing Korean national health insurance for expatriates. This country is enjoying excellent public healthcare. The healthcare system in South Korea is one of the best in the world. The patients of the healthcare system in this country are incredibly healthy.
The OECD is placing South Korea in the first world rank for its healthcare access. Bloomberg also rated the country as the second country with the most effective healthcare system. Some success stories in South Korea are pretty jaw-dropping.
Overview of Health Insurance Korea Foreigners
South Korea becomes highly successful in the healthcare system because of the pioneering project that started in 1953 when the Korean War ends. Together, the Seoul National University and the University of Minnesota launched a project called the Minnesota Project.
This project familiarized health professionals in South Korea with the latest healthcare methodology, increased public health campaigns, especially about sanitation, and reorganized the country’s public hospitals. In the next decades, South Korea started launching legislation on health insurance.
The goal of this South Korean national healthcare legislation is to make sure that big companies are providing coverage for all employees. The program also addressed the needs of residents with low-income and self-employed people.
The Korean National Health Insurance Service
By 2000, South Korea founded the NHIS or National Health Insurance Service. This service is designed to combine some different insurance programs into only one provider of national health insurance. And then by 2004, that new system was large functioning, and in place.
Right now, about 96% of the population in South Korea is already covered by the NHIS. Those who are not covered by the NHIS get coverage through another program called the Medical Aid Program which is designed for citizens with low income. What about insurance plans for foreigners?
1. Cigna International Insurance
Cigna is known as the best comprehensive health insurance coverage South Korea can provide for foreigners. This insurance company is actually a highly reputable worldwide insurer that will serve families and individuals living abroad in over 200 countries worldwide.
The mission of Cigna is to improve and help the sense of security, well-being, and health of the people Cigna serves. Cigna International Health Insurance Korea Plans are not only flexible and comprehensive but are also designed to meet all foreigners’ needs.
Those plans are also customizable so that you can choose and also pay only for the coverage you really need. Three different coverage levels are provided by Cigna: Cigna Platinum, Cigna Gold, and Cigna Silver. Below are some standard benefits that are included in every Cigna insurance plan.
- Deductible options are the first benefit offered by Cigna. Members are allowed to choose a deductible as well as a cost-share option so that they can adjust the premiums’ cost.
- Two coverage areas are provided by Cigna Korean national health insurance. One of them is worldwide coverage and another one is worldwide coverage but doesn’t include the US.
- Inpatient care is another benefit of all Cigna plans. The essential hospital treatments and stays like cancer care will be paid in full.
- Mental healthcare is the next benefit you will get by purchasing one of Cigna’s plans. The plan will cover treatment for mental health disorders, conditions, and also addiction.
- Cigna plans also provide global health assist and full medical support for all members. Moreover, the insurance company is also providing an online customer area that allows you to access an online customer area that is secure to handle your claims and documents.
2. GeoBlue Health Insurance
Another South Korean national health insurance option for foreigners is the Xplorer Essential and Premier from GeoBlue Health Insurance. This insurance plan is the best one for US citizens who live in South Korea.
This insurance plan is providing coverage outside and inside the US for an expatriate, a migrating family, or an international citizen. The policies offered by this Korean national healthcare insurance is giving you access to a premier network of hospitals and doctors.
GeoBlue Health Insurance is providing Xplorer Plan as the best international health plan you can get today. This plan combines comprehensive benefits worldwide with the latest medical assistance services. Some highlights of this plan from GeoBlue Health Insurance are:
- No waiting periods. This insurance company has no waiting periods that are related to preventive services like routine physicals and doctor office visits.
- Blue Cross Blue Shield PPO Network is another highlight of this Korean national health insurance company. It is the most extensive US insurance network. To access this benefit, you should get the Premier Plan.
- Some services provided by the plan don’t have deductibles. GeoBlu is not requiring clients to pay a deductible health insurance rate to get standard services like outpatient prescriptions, preventative care, and office visits.
- GeoBlue Health Insurance company also covers pre-existing conditions. If you owned US health insurance for six months before you start the Xplorer plan, GeoBlue is going to waive the six-month waiting period for pre-existing conditions.
- GeoBlue also offers an unlimited medical maximum. This means GeoBlue is providing unlimited lifetime and annual maximum to all policyholders. Moreover, policyholders can cancel their policy anytime with no cancellation fee.
Pros and Cons of Purchasing Korea Health Insurance
The plus side of using the public healthcare system in South Korea is that you will get a chance to taste the excellent resources provided for patients. With excellent Korean health insurance costs, the healthcare system in the country ranks 6th for CT scanners and 4th for MRI machines.
However, some expatriates prefer using private facilities since those facilities offer a much greater comfort level as well as luxury. Rooms are spacious, modern, and private. Almost all the staff can speak English and will be really helpful. More specialists are available and the waiting list is shorter.
Ready to apply for the NHIS program in South Korea? Before applying, you need to receive your Alien Registration Card, which will be issued by the office of the Korean Immigration Service. With that card, you can start the enrollment process.
If you work for a small company or are self-employed, visit your local hospital with your own passport and registration card to complete the enrollment process. And then you can start enjoying all benefits provided by the Korean national health insurance service program.