Japan’s Health Insurance Associations that is covered by the employer corporations based on contributions made from salaries has taken a hit due to COVID 19 estimates the National Federation of Health Insurance Societies.
78% of the nation’s health-insurance unions composed of employees of large companies are expected to post deficits even as premiums rise to more than 10% of salaries to cover shortfalls. The current account balance shows a deficit of ¥509.8 billion, twice the deficit of ¥230.6 billion incurred the previous year.
An ageing population is already increasing the country’s health expenditure. The increasing deficits in pooling of funds for employee health insurance might result in a lack of health coverage if not checked soon.
(1¥ = 0.009 USD)
To know more read the entire news article originally published in nippon.com here.
Image Credits: Expat.com
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