"Lotte Insurance Launches Medicare Product Supporting Out-of-Pocket Medical Treatment Costs"

Payment of Fixed Amounts for Injury and Illness, Hospitalization and Outpatient Care Without Distinction
Future Diseases and Treatments Also Guaranteed

Lotte Insurance is launching a product that provides a fixed annual treatment support payment based on the scale of out-of-pocket medical expenses for covered services.

On the 17th, Lotte Insurance announced the release of the 'Let's Smile Comprehensive Health Insurance (Medicare)'.

Generally, medical expenses consist of covered and non-covered items, and among these, covered items are divided into insurer-covered amounts and out-of-pocket amounts. The product launched by Lotte Insurance provides a fixed support payment annually based on the out-of-pocket amount for covered items, regardless of injury or illness, hospitalization or outpatient treatment.

The scope of coverage has also been expanded. It covers treatments related to pregnancy and childbirth, mental and behavioral disorders, COVID-19, traditional Korean medicine, and dental care, which are not covered by indemnity medical expense insurance. Additionally, it covers not only existing covered treatments but also future new diseases and new medical technologies that will generate new covered treatments, allowing policyholders to receive insurance payments every year without the coverage expiring after a payout.

The eligible age for subscription is from 0 to 65 years old. Discount programs such as discounts for national merit recipients and existing policyholders are also available.

A Lotte Insurance official stated, "We will lead the comprehensive medical expense consulting field through services that provide coverage regardless of injury or illness, broader coverage than indemnity insurance, and fixed, repeated payments."