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China Accelerates Establishment of Long-term Care Insurance System with Unified Premium Rate at Around 0.3%
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According to a report by Xinhua News Agency, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Opinions on Accelerating the Establishment of a Long-term Care Insurance System," which clearly outlines the establishment of a long-term care insurance system that adapts to basic national conditions, covers the entire population, coordinates urban and rural areas, and is fair, unified, safe, standardized, and sustainable. The opinions make arrangements from aspects such as establishing a policy system that coordinates urban and rural areas, building a stable and sustainable financing mechanism, implementing fair and moderate benefit guarantees, and establishing a scientific and standardized management operation mechanism. According to the opinions, employers, employees, retirees, flexible employment personnel, and unemployed urban and rural residents will participate in long-term care insurance according to the principle of local management, meaning that long-term care insurance will gradually achieve universal coverage. In terms of the financing mechanism, a multi-channel financing approach involving units, individuals, the government, and society will be established and improved, with the long-term care insurance premium rate uniformly controlled at around 0.3%, and the contribution base linked to income levels. In terms of benefit guarantees, long-term care services are mainly divided into home care, community care, and institutional care. The fund is used to pay for expenses incurred from basic long-term care services that meet the regulations, with no deductible line. The opinions also clarify the fund payment ratio and the maximum annual payment limit. In regions where the system has been implemented, insured persons or their families can submit applications and materials at medical insurance service windows or through online processing channels. Insured persons whose disability status generally lasts for more than six months and who are assessed and recognized upon application can enjoy related benefits according to regulations. (ta/j) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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