Next Year's Long-Term Care Insurance Rate 12.27%... Average Insurance Premium per Household Increases by 1,135 Won

The 5th Long-term Care Committee
[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jeong] The long-term care insurance premium rate for next year has been set at 12.27%.

On the 13th, the Ministry of Health and Welfare held the 5th Long-term Care Committee and deliberated and resolved the 2022 long-term care insurance premium rate accordingly.

Accordingly, the average insurance premium per subscriber household increased by 1,135 won from 13,311 won this year to 14,446 won.

The Elderly Long-term Care Insurance is a social insurance system that provides care services such as bathing and nursing to people aged 65 or older, or those under 65 who have difficulty living independently for more than six months due to elderly diseases such as dementia or cerebrovascular disease.

Recipients must be assessed by the Long-term Care Grade Assessment Committee and receive a grade from 1 to 5 or a cognitive support grade (mild dementia), and benefits are paid differentially according to the grade.