The General Insurance Association Provides 70 Million KRW Medical Expense Support for Patients with Severe and Rare Intractable Diseases

The General Insurance Association of Korea announced on the 8th that it has signed a business agreement with Catholic University Seoul St. Mary's Hospital to support medical expenses for low-income individuals facing difficulties due to severe illnesses.

This medical expense support project is part of the social contribution efforts of the general insurance industry and utilizes the New Hope Healing Fund of the Credit Recovery Committee as its financial resource. This fund is a pan-financial sector social contribution fund created by the Credit Recovery Committee through corporate card points and donations from financial companies to promote social contribution projects.

Recipients of the medical expense support are selected through an application process for patients receiving treatment at Seoul St. Mary's Hospital, followed by a review by the hospital's charity patient review committee. A total of 70 million KRW will be provided, with up to 5 million KRW per individual for medical expenses.

Since 2019, the General Insurance Association of Korea has been continuing its medical expense support project for low-income patients with severe illnesses who face the dual hardships of economic difficulties and battling disease. Over the past five years, a total of 114 individuals have received approximately 400 million KRW in medical expense support.

Lee Byung-rae, Chairman of the General Insurance Association of Korea, stated, “Despite the difficult economic situation, we hope that patients can receive treatment without worrying about hospital bills and return to a healthy life as soon as possible.” He added, “In the future, the general insurance industry will actively continue to support vulnerable groups and fulfill its role in delivering the values of sharing and hope.”