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Health Insurance Associations of Japanese Corporations face deficit in wake of COVID 19 - P4H Network

Health Insurance Associations of Japanese Corporations face deficit in wake of COVID 19

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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Reference
25 May 2021